DES MOINES, Iowa – When Katie Patterson decided her company, Happy Medium, needed some experience with NFTs, she found a way to help her people learn while picking up some cash, or actually, some Ethereum, for Count The Kicks, a nonprofit working to reduce the rate of still births around the country and world. Patterson partnered with Liz Lidgett Gallery and artist Betsy Enzensberger to set up an auction of three digital art pieces through OpenSea.
And you don’t need to know blockchain from blackberries to join in.
But it wouldn’t hurt to get a little education. What the heck is a NFT? It stands for Non Fungible Token. What that means is a thing, digital art created by Betsy Enzensberger in this case, is a verified unique item. This verification is related to blockchain and cryptocurrency. All of this combines for one of the hottest trends on the digital front.
Patterson says, “We’re a digital agency so we need to be a leader in our industry always. I knew the best way to learn this up-and-coming industry is to go through the process and teach ourselves.” Patterson decided any proceeds from the process would go to Count The Kicks. “They do so much incredible work to increase live birthrates around the world.”
“I always say to my clients you should buy what you love.” says Liz Lidgett, owner of Liz Lidgett Gallery in Des Moines. She’s dealt with NFTs and tells clients they are another way for artists to create and market those creations. And if clients are looking for an investment they need to know the link NFTs have to the world of crypto makes their value volatile as well.
Lidgett points out NFTs, like those up for auction in this case, can be displayed in a number of ways, from a TV to a tablet to a social media post or avatar. She adds, “It’s not like sculpture is going away because of NFTs. It’s just going to be another way for artists to create.” An added bonus for creators is the ability to build into the NFT a provision that will pay the artist a percentage from future sales.
If you’re interested in bidding you’ll need to create an account with OpenSea, much like you would at eBay or Etsy, and fund it with enough money to place a bid. The auction ends at 3:59 a.m. CST on Feb. 18.