About

BullishArt is an online NFT art gallery that curates the works of talented contemporary artists around the world.

This platform aims to help collectors and artists on the blockchain and guide them on how to best use these technologies that are usually quite difficult to approach for the standard user who is not familiar with the blockchain.

Artists’ illustrations and collections are supported in order to expose them to this new digital art market, where talent and creativity are securely shared and empowered.

Basic Knowledge

What is blockchain technology and how it works?

Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking tangible or intangible assets in a business network. Each block of the chain contains a number of transactions. Every time a new transaction occurs it is recorded as a block of data and added to every participant’s ledger. Each block is securely connected to another, forming a chain of data every time an asset moves from place to place or ownership changes. These transactions are recorded with an immutable cryptographic signature called hash, which makes it impossible to tamper, hack or cheat the system.

What is a non-fungile token and what are its uses?

A non-fungible token (NFT) is a digital asset that represents a wide range of unique tangible and intangible items, using the blockchain technology. Unlike regular cryptocurrencies, NFTs cannot be directly exchanged with one another but have a distinct value. In addition, they cannot be divisible into smaller units, preventing the creation and circulation of fake collectibles because each item can be traced back to the original issuer. Since data is stored on the blockchain, NFTs are also indestructible, preventing a token to be destroyed, removed or replicated.

NFTs have been mostly associated with the gaming industry and digital collectibles sectors and recently have gained popularity among digital artists because of its potential to securely tokenize their artworks and thus providing a way to transfer ownership of digital assets to holders. An NFT can be described as a certificate of authenticity.

When you buy an NFT using cryptocurrency, you buy the unique token and the work of art linked to that token. That transaction is registered on the blockchain and provides a permanent and transparent record of that purchase and your proof of ownership.

References

https://www.jdsupra.com/legalnews/non-fungible-tokens-and-art-that-lives-5606470/
https://www.coindesk.com/what-are-nfts
https://www.euromoney.com/learning/blockchain-explained/what-is-blockchain) (https://www.ibm.com/blockchain/what-is-blockchain

Learn more about NFT and our work

Join our instructor for a series of virtual classes aimed at helping you starting with NFT with BullishArt!