Collecting NFTs: 5 Considerations from Collectors & Curators
Advice from Experts to Build Your NFT Collection
Six-figure headlines dominated the last NFT bull run, and thousands of speculative degens were converted into art collectors overnight. While some of the biggest projects focused more on community and profile pictures, traditional artists seized an opportunity to reach a larger audience online while building a new revenue stream via royalties.
As a creator-centric chain, we invite collectors to explore their personal tastes while building their NFT collection—highlighting different creator styles and creating more liquidity for collectors on RARI.
Whether your NFT wallet looks like a gallery or you’re just getting started, knowing some fundamentals of collecting NFT art can make collecting more rewarding (and we mean that in all senses of the word). We caught up with top NFT collectors and curators to hear what they consider when collecting NFT art.
Tip 1: Collect What You Love!
“Admire the art, admire the person behind it, let it stop time for you when you admire art” -0xForexus, NFT Collector.
This may seem obvious, but if you’re only buying for speculation, you can be disappointed as the price fluctuates. However, if you’re collecting pieces you love, you’ll be surrounded by art you can enjoy in any market.
Forexus, who is an avid collector and RARI community member, adds:
“As an artist, collector, and a huge fan of 3D art, I tend to look at a couple of things when collecting NFT art. The artist has to participate in the Web3 community, to have a particular style I like, and when I look at their art, it will have to stop time— so you can enjoy the emotions it brings. Maybe the most important thing nowadays for an artist is to have that personal connection with their collectors. Who doesn’t like to collect art from their friends?”
Tip 2: Focus on Community
Lorraine Ye, Head Curator at HUG shared this with us:
"When buying art I tend to do research into the identity of the artist. I love to support artists with similar backgrounds to me or from underserved communities, so doing due diligence in researching the artist can be fruitful in supporting emerging creators!"
In Web3, artists are as strong as their communities. They don’t need to have the biggest following on Twitter, but should have great engagement on their channel of choice (this could be outside of CT btw) and supporters that show up to buy their new collections. This ensures stickiness—returning to the first tip (collect what you love), loyal community signals that people love the art and its meaning, so it will continue to stick around throughout market cycles. A loyal community also means that the art pieces will likely have greater liquidity, even if the artist decides to switch marketplaces or blockchains.
Effectively, when you buy NFT art, you’re joining that artist’s community, and you’ll find more personal value if you resonate with their identity and values.
Tip 3: Quality Beyond Price
Just like with collecting traditional art, the quality of pieces in your collection matters more than the quantity. Even if you’re not an art aficionado, there are some key indicators that the art is of higher grade, ensuring timelessness.
Perspective
Crucial to understanding perspective is grasping the interplay of foreground and background, along with negative and positive spaces, to harmonize aesthetics. Perspective breathes vitality into the canvas, animating the illusion of three-dimensional forms and inviting the viewer to immerse themselves within the artwork's realm.
Details
The artist’s skill level is hidden in the details. Is the proportion of the subject matter balanced? Is the artwork high-resolution? The artist's mastery and the condition of the actual piece help determine its value.
Tip 4: Find Value in the Artist’s Vision
“Make sure to spend time looking and engaging not only with the work, but with the artist, too. How does a singular work reflect a greater creative vision, and how might that vision develop in the future?” -Aniko Berman and Justin Gilanyi of Codex Projects, advisors for on-chain digital art patronage.
Every NFT has a story to tell—make sure it's worth listening to. Before splurging on a digital masterpiece, take a moment to delve into its history and significance. Has the artist made waves in the crypto art scene before, or is this their breakout piece? Does the artwork have cultural or historical significance that adds meaning to your collection? Understanding the context behind each piece will deepen your appreciation for the art and its creator.
Tip 5: Infrastructure Supporting Collection Longevity
While the artist plays the biggest role in the quality of the art, you may also want to consider their choice of blockchain. The artwork’s chain and its surrounding ecosystem impact some key factors in the longevity of your collection.
Security
Does the blockchain prioritize security? Not everyone will have the technical skills (or time) to review code, but you can also look at the history of the blockchain. For example, Layer 2 and Layer 3 blockchains built on Ethereum can ensure the same level of security as their parent blockchain—one of the most trusted in the industry.
Liquidity
Ensure that the blockchain is integrated into one or more major NFT marketplaces, allowing you to trade and exchange your art.
Royalties
Many creators were first drawn to creating digital art because they created a revenue stream via royalties. The royalties mechanism was abandoned by some marketplaces, deterring some high-grade artists from joining (or staying on) the Web3 path. RARI Chain ensures royalties at the node level to attract more creators and innovative use cases. Consider your stance on royalties and review how it impacts the purchase and sale of your collection.
Wrapping it Up
In our conversations with curators and collectors, one thing was clear: NFTs add even more value to art lovers because they allow a direct link to community. When you’re collecting, look for artists that align with your personal identity and values. Community and high-quality art that you love last long beyond any market cycle!
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