NFTs are a “natural place” for digital artists – Gal Yosef
The hype surrounding non-fungible tokens, or NFTs, may have died down in recent months due to the crypto bear market, but that hasn’t stopped digital artists from experimenting in this exciting new space. Gal Yosef, a world renowned self-taught artist in the field of 3D art and animation, has proven his versatility by launching two successful NFT collections. In an exclusive interview with Cointelegraph, Yosef explained why NFTs are a “natural” transition for digital artists and why the industry is poised to grow despite the current headwinds.
Yosef, who successfully launched his Meta Eagle Club NFT collection in January, told Cointelegraph why non-fungible artwork is so appealing:
“I think the NFT has given massive exposure to all digital artists, mainly because it’s a very natural place for us.”
Approach NFT art compared to other forms of digital art
NFTs are a natural transition for digital artists because vertical is “not a category in and of itself”. On the contrary, as Yosef explained, NFTs are “exactly the same art to me, exactly as I do it all the time and exactly as I always have, just listed in other [platforms]He said the art world is changing with NFTs and “gives us a new platform to express ourselves.”
Yosef’s foray into the NFT market began in 2021 when he launched the Crypto Bulls Society collection. The collection reportedly generated over $50 million through primary sales and auctions. One-of-a-kind NFT created in collaboration with American record producer Steve Aoki Yosef reported $214,000 at Sotheby’s auction.
Did you know …
Gal Yosef (our artist) recently sold his own NFT in collaboration with Steve Aoki for $214,000.
This is the first time we’ve made Gal’s art available to a wider audience. Be sure to get your hands on one of the sickest NFTs of this era! pic.twitter.com/hzjND3ynIG
— Crypto Bull Company (@Crypto_Bull_NFT) November 3, 2021
When asked if there are any learning curves in launching an NFT collection, Yosef said the only unknown is the market dynamics of the new industry. “I didn’t really know what [controlled] the result, then I realized that everything was community based; art can be as beautiful as possible, but without a good community, the work will not be [succeed].”
Metaverse: the future?
Describing his first encounters with the NFT world, Yosef said the blockchain industry at large, and metaverse technology in particular, could be “the next big thing.”
“[I am] I’m looking to put my signature on it and do great things,” he said without giving further details.
Related: An NFT market worth $231 billion by 2030? The report predicts strong growth for the sector
While the existing metaverse industry has been described as “basic and bizarre” due to the burgeoning technology and its adoption, it is expected to have a profound impact on gaming, social interactions, and the art. Some technologists and venture capitalists believe that the marriage between metaverses and NFTs is inevitable – and that Metaverse NFTs will fuel the next growth cycle of digital collectibles.
NFT sales volumes peaked in 2021 at the height of crypto mania, with companies like Bored Ape Yacht Club and CryptoPunks generating billions of dollars in lifetime revenue. Although the market is in a cooling phase, rumors of his death have been exaggerated, according to industry data aggregator DappRadar. NFT’s sales volumes hit $3.7 billion in May. While activity continued to decline during the summer, the arrival of major brands such as Tiffany & Co reveals that many companies are strategically turning to the NFT market.