Crypto Artists and Investors Trusts NFTs to Transform the Art Industry

NFT art records broken by Picasso's #Bitcoin Bull.

Cointelegraph spoke to Trevor Jones, the creator of the record-priced NFT, and the artwork's buyer, Pablo Rodriguez-Fraile of Museum of Crypto Art, to find out why they believe cryptographic tokens are the future of art.

Pablo Rodriguez-Fraile: We have been investors in the space for about four years now, having been early to Ethereum and major participants in the 2017 ICO season and beyond Outside of investments related to NFTs, we have participated in early investments in Algorand, Hashgraph, Klaytn or Avalanche, to name just a few.

PRF: Like a fair amount of people, CryptoKitties was our "First encounter." But we did not really begin to see the power of NFTs until we connected the dots on blockchain-based virtual land and crypto art.

SH: When did you begin exploring creating art in the form of NFTs? TJ: It was five or six months after my conversation with David around September when I began noticing a lot more artists appearing on crypto-Twitter and talking about NFTs and the various marketplaces popping up.

Since "EthGirl," I've only created 12 NFTs and I believe this is one of the key reasons why I've hit the ATH sales record on all the major marketplaces - SuperRare, KnownOrigin, MakersPlace and now Nifty Gateway.

SH: What appealed to you about NFTs as an asset class to invest in?

Some of the primary benefits of NFTs are low-cost transferability, ease of storage, display options between physical and virtual worlds, lack of incentive for theft.

SH: What are some of the benefits offered by NFTs that are most appealing to you as an artist?

Fractionalizing is now possible, and I'll soon be offering fractional ownership of my physical paintings through NFTs. Of course, being a painter for the better part of 20 years, I'll always be partial to the experience of standing in front of a physical work of art.