Lebanese artist, Kristel Bechara, unveils her first NFT artwork
Mita Srinivasan
10X Technology

Lebanese artist, Kristel Bechara, unveils her first NFT artwork

NFT will enable artists to earn royalties on their work for longer and as assets change hands, creating access to new markets and better revenue for them in the future

Kristel Bechara is launching her first NFT (non-fungible token) digital artwork depicting Satoshi Nakamoto called Beauty in DeFi, the artist’s oeuvre of the transition to decentralised finances through the blockchain technology and the evolution of digital art. Bechara is the first female artist from the UAE and Middle East to launch a unique painting, which will only be available as an NFT.

In addition, the artist will launch a series of limited-edition paintings (25 unique limited editions) that can be bought with a redeemable NFT on OpenSea, a digital marketplace for crypto collectibles and NFTs. The digital art from this collection will also be redeemable for a physical representation mailed directly to the collector. She will also be offering an NFT for each commission or original pairings going forward which collectors can use as proof of ownership and certification of authenticity.

“As someone who has been creating digital art for a number of years, I wanted to participate in this movement as soon as I learned about it. I am delighted to see the recognition that digital art is finally receiving. For years I have had to explain to people that art produced digitally is not any way inferior to artisanal traditional art and both should be appreciated in their own way. As an artist who created both traditional and digital art, I can attest that the authority and creative process to create each piece is the same, yet one is developed and exhibited using modern tools,” Kristel Bechara explained.

NFTs will impact the art world at large and will be the gold standard for verification of authenticity and establishment of provenance not only for digital artwork but also for the radially produced pieces. Moreover, digital artwork created from 2021 onwards will most likely have an NFT, creating a more transparent history linked to the piece. This will offer artists accessibility to new markets and mediums to express artistic ideas as well as enabling artists to finally receive royalties every time their artwork changes hands, creating a substantial impact on the industry. Just like musicians and singers are able to perpetually earn revenue from their productions, artists too can now benefit for a longer period. This will support more artists in the future and create a clearer platform for success.