The so-called crypto art is not really a new art form at all. This is not a new art direction, nor is it a new art-related cryptocurrency.
In fact, it is the use of blockchain-based tools to support artists and their works. In other words, it is an art with new tools made possible by cryptocurrencies and blockchain technology.
The curious thing is that almost any artist can use these innovative tools to gain certain benefits, but it often turns out that people involved in crypto art are artists who specialize in digital art.
Most importantly, data recorded on a public and secure blockchain like Ethereum is immutable, public, verifiable, and non-falsified.
Any work of art can be represented by a unique code or hash. It can be permanently recorded on the blockchain without the possibility of changing it. If the blockchain is public, anyone can freely verify the uniqueness of the code, as well as verify that this particular person is the owner of the work.
Of course, the public blockchain does not record the names of the owners, but the code of their public address, and only this data can mathematically and without a shadow of doubt prove that these people are the true owners of the creative work.
Ethereum-like blockchains also allow the creation of separate non-fungible tokens called NFTs. Anyone can check their presence, uniqueness and authorship, and the owner can exchange, i.e. send to other public addresses belonging to other owners.
Digital artworks can be released and registered in special decentralized archives in the form of digital files and linked, for example, with one of such NFTs, which makes information about their owner publicly available and allows them to be freely exchanged.
Strictly speaking, cryptoart is precisely about creating digital artworks that are inextricably linked to NFTs, but since NFTs can also be linked to physical works of art, we often refer to cryptoart as non-digital artworks that position themselves accordingly.
In fact, there is another, third definition of crypto art, but now it is used only to a small extent. In other words, crypto art was once defined as any artwork related to cryptocurrencies and blockchain, but now only those works that are presented on the public blockchain through a unique hash or NFT are referred to it.
Finally, it’s worth noting that these NFTs are often freely traded in real markets, where buyers can be assured that they are the sole owners and in possession of the original work, while artists can make money by selling their artwork directly to collectors.
In general, this is a new way of creating, but above all the exchange of works of art, applicable to various types of creative work, in particular digital, that is, to any work that can be saved as a file.