Italian artist Valentina Loffredo is among the first to exhibit her creations as NFTs (non-fungible tokens) which have changed the landscape for art distribution and collection in the past year.
Having started her art career just 4 years ago, Loffredo’s debut solo exhibition in Hong Kong in 2017 became an overnight success, leading her to showcase her artworks at exhibitions all over the world in cities including Milan, Venice, London, Madrid and Shanghai.
However, with the phenomenal rise in popularity of NFTs impacting the traditional art world this past year, Loffredo decided to enter the space in March, and exhibited her artworks digitally for the first time as unique pieces for collection. Specializing in photography art work and 3D rendering, Loffredo’s style incorporates a humorous flair with a graphical minimalism.
Following her decision to explore NFTs, in just a few short days the artist was able sell more than 50 individual artworks through the platform OpenSea, which subsequently featured her art in their March Spotlight. This remarkable success led her to became one of the first 100 creators to be invited by Binance to mint their artworks on their new NFT marketplace.
For creators around the world, NFTs have provided a unique opportunity to distribute digital art with a lifetime tokenized value through the Blockchain. This means that buyers can continue to exchange NFTs such as artworks once purchased, and find that their newly acquired art collections can gain value over time. In the second quarter of 2021, NFT sales exceeded $2.5 billion compared with just $13.7 million a year ago.
With the traditional art world colliding head on with NFTs, there have been numerous advantages for up and coming artists to reach new international art buyers through the power of Blockchain technology. With early adopters finding success on NFT platforms, it’s an exciting period for the art community to explore a new form of artistic distribution and expression via digital means.
Working in both the physical art world and in the NFT space, Valentina Loffredo has adapted to this new shift by making limited edition artworks that are either available on or offline. These can be seen in her recent book Reality, Curated which showcases a selection of her first creations, 2 of which were selected by Sotheby’s for the auction “Curated, turn it up”, aimed to reflect the tastes of emerging Asian collectors.
Have you embraced the new opportunities presented by the fast rising popularity of NFTs among art collectors? Share your opinions with us: @DigitalWeekday
Financial disclaimer: Financial trading and investing in cryptocurrencies including NFTs, coins, tokens as well as other leveraged products is highly risky and can result in losses that exceed your initial deposit. Suitable professional financial advice should be obtained before investing in these assets or the financial markets.