The Art of Seasons NFT: Overview and Analytics
The Art of Seasons is a collection of 6,895 uniquely identifiable illustrated non-fungible tokens (NFTs) created by an artist, Dirty Robot. The purpose of this NFT project is to showcase each of the four seasons as one of the core properties of each non-fungible is which season it is, whether Spring, Summer, Winter, or Autumn.
Dirty Robot has suggested that owning one of The Arts of Seasons NFTs will allow holders of this NFT project in order to obtain access to future collections of his.
Several months ago, the project announced that holders of a non-fungible token with the “RENGA printing press” trait would be eligible for a free print of the NFT the user owns.
Interesting details about Art of Seasons NFT
It is worth noting that the Art of Seasons NFTs were sold more than 330 times, more precisely 336 times in the last seven days. We need to mention that the total sales volume for the project was $117.25k. The average price of one non-fungible token was $349.
What’s interesting, there are several thousand owners of The Arts of Seasons NFTs, more precisely 3,023, owning a total supply of 7,237 tokens.
It is desirable to gather more information about non-fungible tokens. So, let’s start from the beginning.
Non-fungible tokens
People hear about non-fungible tokens from journalists, celebrities, and others regularly. However, it is quite hard to understand what they are talking about without learning about NFTs.
First of all, there is no need to panic! The Art of Seasons NFT is an interesting project, but there are other interesting projects as well. So, in order to better understand them, it is necessary to have at least a general understanding of NFTs.
It is no secret that NFTs have become an integral part of the modern world. People are ready to pay a lot of money to buy them.
Let’s first answer one important question: “What is a non-fungible token?”
As a reminder, a non-fungible token is a digital asset that represents objects. For instance, music, art, videos, as well as in-game items. What’s important is that NFTs are bought and sold online frequently with cryptocurrency, and NFTs are usually encoded with the same underlying software as in the case of the vast majority of cryptocurrencies.
Importantly, even though NFTs have been around for several years, they are gaining popularity now because non-fungible tokens are becoming an increasingly popular way to purchase as well as sell digital artwork. One really interesting fact: In 2021, the market was worth an astonishing $41 billion in one year alone.
It is desirable to remember that NFTs are unique or at least one of a very limited run. They come with unique identifying codes. However, the vast majority of NFTs have been creations that already exist in some form elsewhere. For instance, take a look at video clips from NBA games.
Have you heard about digital artist Mike Winklemann?
Mike Winklemann, better known as “Beeple,” created one of the most famous NFTs in the world, “EVERYDAYS: The First 5000 Days.”
Do you what is the difference between a non-fungible token and cryptocurrency?
You already know what an NFT is, but what about a cryptocurrency? Non-fungible tokens are typically built utilizing the same kind of programming as cryptocurrency. However, that is where the similarity between an NFT and cryptocurrency ends.
You need to remember that physical money, as well as cryptocurrencies, are “fungible.” Cryptocurrencies, as well as physical money, are also equal in value. For example, one dollar is, no matter what, worth another dollar. Moreover, one Bitcoin ( the largest cryptocurrency in terms of market cap in the world) is always equal to another Bitcoin.
Notably, the situation is completely different when it comes to NFTs. Each non-fungible token has a digital signature. As a result, it isn’t possible to exchange one NFT for another. Moreover, one NFT isn’t equal to another NFT.
For instance, one NBA Top Shot clip isn’t equal to another NFT simply because there are both NFTs.
Let’s answer another interesting question “How does an NFT work?”
It is worth noting that non-fungible tokens exist on a blockchain. If you don’t know what a blockchain is, don’t worry! You will find out in a second. All you need to remember is that it is a distributed public ledger that records transactions.
Interestingly, NFTs are usually stored on the Ethereum blockchain, even though other blockchains also support NFTs.
A non-fungible token is made from digital objects that constitute both tangible as well as intangible items. For example, graphic art, music, collectibles, etc.
To put it another way, non-fungible tokens are like physical collector’s items, only in a digital form. Unsurprisingly, NFTs also get exclusive ownership rights. It is noteworthy that one person can own a non-fungible token at a time, and NFTs’ use of blockchain technology makes it convenient to check ownership as well as transfer tokens between owners. What’s interesting is that the creator of an NFT can also store particular information in a non-fungible token’s metadata.
How can you use NFTs?
As a reminder, in the first part of the article, we discussed The Art of Seasons NFT. Many people might ask, “What are NFTs used for?” Let’s find out!
It is important to remember that thanks to blockchain technology as well as NFTs, artists and content creators have an opportunity to make a lot of money. In the past, artists used to rely on galleries and auction houses. However, thanks to new technologies, they can sell their arts without galleries and auction houses. Furthermore, they can program in royalties so artists will receive a percentage of sales whenever their art is sold to a new owner.
What’s important, art isn’t the only way to make some money with non-fungible tokens. Let’s take a look at Nyan Cat, a 2011-era GIF. It was sold for nearly $600,000 this year. Furthermore, NBA Top Shot generated hundreds of millions in sales as of late March. As you can see, people are ready to spend a lot of money in order to buy an NFT.
