Since the onset of the pandemic in 2020, the term “Non-Fungible Tokens” (NFTs) has surged in popularity. This rise coincided with a global shift towards remote work (WFH) as offices shuttered, catalyzing a digital renaissance in the arts and heralding a new age for digital creative careers. NFTs, intricately tied to digital art, have revolutionized how artists share their work, employing blockchain technology to foster a direct connection with collectors. This innovation not only amplifies the visibility of their creations but also enhances their value, enabling a broader audience to appreciate and invest in digital art.
The transition to WFH contributed to a spike in digital art transactions among internet users, who increasingly used cryptocurrencies like Bitcoin and Ethereum to purchase digital assets, including images and animations. Notably, sports memorabilia, such as iconic moments of a celebrated basketball player’s championship-winning dunk, became highly coveted.
Amid this NFT craze, we introduced a novel concept: PRENFT. Coined and registered as PRENFT.com on February 26, 2021, the term draws inspiration from prenatal care, implying preparatory actions taken before the ‘birth’ of an NFT, specifically in the realm of digital art. PRENFT aims to refine how digital art is appraised, incorporating Artificial Intelligence (AI) to evaluate an artwork’s uniqueness and potential value. This approach helps prevent the circulation of easily replicable works, ensuring that only original, value-generating pieces are pursued. Furthermore, PRENFT offers collectors a mechanism to verify the provenance and ownership of digital art, enhancing transparency and trust in the digital art market.
By integrating AI, PRENFT represents a pioneering shift for artists, offering them innovative ways to create digital art that is both valuable and appealing to collectors. This advancement enables artists to generate higher-value artworks and attract more interest from potential buyers, thereby transforming the landscape of digital art trading. In essence, PRENFT, bolstered by AI and blockchain technology, is driving the evolution of the digital art scene. It empowers artists with greater control over their work and copyrights, guiding their creative journeys in the blockchain era and shaping a new trend in digital artistry.