TUGAS TUTORIAL ONLINE 1

MATA KULIAH :

BAHASA INGGRIS NIAGA

1. Given the rise in popularity of NFTs (Non-Fungible Tokens) and digital art, many creators are
now using auction-based platforms to sell their work. Do you think auctions are an effective
method for selling digital art, considering the unique dynamics of the digital art market and the
behavior of collectors in this space? Explain your reasoning

Answer :

In simple terms, NFT is an online certificate of ownership that can be bought and sold, based on
data units stored in a digital ledger (ledger) which belongs to blockchain technology. NFTs are
created as representations of digital or non-digital assets. For example, digital works of art
(drawings/photos/paintings, animations, unique collections, music, videos/animations),
substitutes for physical documents (manuals, tickets, invoices, important documents, and digital
signatures), and works other creative.

Original works of art (in this case still in physical form) can be processed digitally first (with
devices that do not reduce quality, of course), then marketed in digital form. It is possible that
collectors will hunt for the original work (in physical form). he blockchain technology
underlying NFTs gives them the ability to authenticate digital assets into a unique code that
cannot be duplicated, thereby keeping ownership rights secure.

Access to copies of NTF yield files is not limited to NFT purchasers only. In other words,
anyone, not limited to buyers, can access it. If the buyer feels confident with his "shot" then the
next process will be through the NFT transaction mechanism. NFTs can be tracked on the
blockchain to provide their owners with proof of ownership separate from copyright. Once sold,
artists can still claim their work as copyright and can sell copies of their work as part of the
royalties. So the artist can sell many copies of his work. Each copy will have its own unique
code.

NFTs can be designed according to specific needs, especially those that require a unique code
and if the types offered are diverse. For example, concert tickets (VVIP, VIP, Festival). Each
ticket will have a unique code and will only be owned by one person.
The Effectiveness of Auction Methods for Selling Digital Artworks

Auctions can be an effective method for selling digital artwork for several reasons:

 Price Transparency: Auctions allow the price of digital artwork to be determined by

market demand, creating price transparency that can attract collectors.
 Creates Enthusiasm: The auction process can create enthusiasm and competition among
collectors, which can increase the value and interest in digital artwork.
 Access to Global Markets: Auction platforms can provide access to global markets,
allowing artists to reach collectors from different parts of the world.

However, there are also several considerations that need to be taken into account, such as the risk
of price volatility and the need for a deep understanding of the behavior of the digital art market.
Additionally, it is important to choose a trusted and reputable auction platform to ensure the
successful sale of digital artwork.

Reference ; https://eraspace.com/artikel/post/5-hal-tentang-nft-yang-bikin-karya-seni-digital-
bernilai-jual-tinggi