NFTs for artists

If you don’t understand NFTs yet, don’t worry - we have made a detailed guide just for you! 

Simply start here and work your way through it before coming back here.

There are numerous ways in which artists benefit from NFTs. ´

The most obvious and important benefit from NFTs is that whenever your artwork changes hands in the future (on an exchange such as OpenSea for example), you will receive a percentage of the resale value - as long as you’ve attached your artwork to an NFT.  Sedition NFTs recapture 7.5% of the resale value, which is then split between Sedition and the artist.

In addition to that, you’re able to reach larger audiences with NFTs since your work will be traded on marketplaces with hundreds of thousands or even millions of users - putting your work in front of them all.

Last but not least, NFTs significantly lower the barrier for entry. Any artist can start selling NFTs - they don’t need an agent, a gallery or a representative to do so!

There are two distinct mechanisms on Sedition for you as an artist to be aware of. 

First of all, some of the historic works that were sold on Sedition and are in people’s Vaults can be minted as NFTs. When that happens it doesn’t change anything for the artist as the collector already owns their work - the collector is simply listing their ownership of the artwork on a decentralized ledger - the blockchain. However, if that work ever changes hands again in the future, the artist will receive a % of the sale value. 

The second mechanism to be aware of is slightly different and can be applied for new artworks. You as an artist can choose to sell your new collection as NFTs - in which case, collectors can buy your artworks and immediately mint them as NFTs at the very point of purchase. However, they won’t be obliged to do so - they can also buy the works as standard digital limited editions.

Please note that in neither scenario will you as an artist be paying the gas fees - in both cases the gas fees are passed onto the collector of an edition.

No. Not at all.

Minting an artwork as an NFT doesn’t really change anything. Anyone minting a work on Sedition has to use Sedition’s smart contract. 

Sedition's contract forever and always identifies you, the artist, as the author and the originator of the artwork. It will also capture a percentage of future resales and deliver it back to you, the artist. As per our practice since we were founded, Sedition sells the artworks, but not the rights to the artworks.

Copyright and intellectual property resides with you, the artist, and this will always be the case unless you choose to specifically sign them away.

So, to summarize, the collector is buying the work - not the rights to the work, not the ability to use it in advertising or merchandise or any commercialisation of your work other than from reselling it - for a profit (hopefully). The only thing that changes is that whenever the artwork gets resold in the future, a % of that sale will accrue back to you, the artist. 

No, we absolutely disagree!

As with anything in the world - it can be used for good or evil. The NFTs and blockchain are neither good nor bad in and of themselves.  

The ability of NFTs to recapture a fair share of the secondary market resale value is an amazing and an unbelievably overdue development in the art world. Every artist in history should be singing praises to this aspect of the technology. 

However - as previously stated - we intend to offer the ability to engage with NFTs and crypto not an obligation to do so. If you prefer to remain resolutely anti-crypto and just enjoy your Sedition collection in the way you always have - or as an artist launch artworks not as NFTs, you still can.

You are ALWAYS welcome to Sedition! 

As above - we don’t intend to force anyone into anything they’re uncomfortable with - we think there are some wonderful benefits for artists and indeed the wider collecting community with the advent of NFTs, but we’re not fanatical about it - we just love art. 

We are not planning to oblige any artist who is against NFTs to engage with the technology. However, we do believe that there are multiple benefits to it - so consider reaching out to us to talk via - we’d be more than happy to have a discussion!

Not entirely, no.

We do agree that the context in which an artwork appears is essential. This is the entire point of Sedition - a site for the very best contemporary art. Context has always been important - think of the traditional venues of museums and galleries. There is a reason art is usually enjoyed in such venues.

However - whilst we will provide a beautifully curated site, with a wide array of apps and ways in which to view the artworks in a well presented and artistic context, we obviously have no control on what happens outside of our world. In the same way that if you purchased a beautiful oil painting from a gallery you could sell it at a flea market (weird but your choice). So it is that the owner of a digital artwork should be free to sell it where they like.

When a Sedition artwork is minted as an NFT, it can be traded on any compatible NFT marketplace - in the case of the Ethereum network by far the biggest marketplace is OpenSea, but there are several others and each will offer a different user experience and context in which to trade. Not all such sites are devoted only to art, they are literally an open sea.

While OpenSea’s values are certainly different from Sedition’s, which upholds a curated and artistic paradigm, we love that there’s a truly open and transparent marketplace that doesn’t have a narrow focus on a single field such as art, but instead offers a literal open sea in terms of the NFT world. This is why it has become the primary NFT marketplace.

In the long term we envisage all artworks becoming ‘mintable’, but for now you are welcome to launch artworks via our existing digital limited edition route.

Our plan is to eventually allow for every artwork on Sedition to be mintable as an NFT - that is only if the owners choose to do so. However, this is not something that will happen overnight and is a process that will take a considerable amount of time. It also depends upon our satisfaction with the technology and how it delivers for the artists and collectors we work with.

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