The latest project of contemporary artist and NFT artist Patrick Koster: NFT ART! NFT stands for non-fungible token. “Non-fungible” more or less means that it’s unique and can’t be replaced with something else.
NFTs are part of the Ethereum blockchain. Ethereum is a cryptocurrency, like bitcoin, but its blockchain also keeps track of who’s holding and trading the NFT Artwork. NFT Art is about using the tech to sell digital art, an evolution of fine art collecting.
The basic idea of what blockchains are is a way to store data without having to trust any one company or entity to keep things secure and accurate. There are definitely nuances and exceptions there, but when most people say “blockchain,” that’s the kind of tech they’re talking about.
You can copy a digital file as many times as you want, including the art that’s included with an NFT. But NFTs are designed to give you something that can’t be copied: ownership of the work (though the artist can still retain the copyright and reproduction rights, just like with physical artwork).
There are several marketplaces that have popped up around NFTs, which allow people to buy and sell. These include OpenSea, Rarible, and Grimes’ choice, Nifty Gateway, but there are plenty of others. Patrick Koster’s NFT Artwork can be seen on OpenSea [Come and watch?].