A step-by-step guide for starting your rare digital art collection on MakersPlace

Artwork by Luis Buenaventura, Risto Kutt and Jarid Scott on digital canvases. (photo by Ngoc Nguyen)

If you are one of many new art collectors crossing over into the world of rare digital art, congratulations and welcome to our ever-expanding community! You are joining thousands of collectors in a new movement that is redefining art in the digital age. 

New to Rare Digital Art? Rare digital art is art with authenticity, scarcity, and proof of ownership guaranteed by blockchain technology. Every artist and artwork featured on MakersPlace is verified through a multi-step identity verification process. Start your collection today!

Why Collect Rare Digital Art?

A common question amongst those unfamiliar with the emerging rare digital art market is, why buy it in the first place? 

Before we get into the reasons why people are collecting rare digital art, let’s take a moment to explore how we got to this point. Until recently, digital art has essentially been deemed valueless in the eyes of collectors and the traditional art world because it was extremely easy to copy, mass distribute, misattribute and/or flat out steal digital artworks. 

The introduction of blockchain technology has transformed digital art creation and collection for the better: Now artists can protect and authenticate their work with indelible digital signatures stored on a blockchain. Collectors can now rest assured that they own an authenticated original or rare edition which can not be copied. In other words, principles of rarity can finally be applied to the digital art world. 

Now that you have a greater understanding of what rare digital art is and how it works, let’s get into why people buy rare digital art. 

  1. Love for the artwork — The overarching reason why most collectors are purchasing rare digital art is that they feel a deep connection with the artwork. Owning the artwork helps them feel even closer to the artist, creation and the story behind it.
  2. An investment — As is the case with traditional physical art markets, the value of rare digital art usually appreciates over time. Many collectors purchase artworks with the possibility of re-selling them in the future for a profit. It’s common to see collectors re-selling their artworks for north of 5x their original investment.
  3. Supporting digital art and creativity — Along with a love for the artwork itself, many collectors invest in rare digital art because they want to support artists in the emerging digital arts economy, in doing so creating a brighter future for digital creativity.
  4. A new way to view and interact with art — Rare digital artpresents creations in a way never seen before. Digital tools and techniques breathe life into previously static artworks, providing another layer of complexity. The immersive experiences provided by these rare digital artworks give collectors and art enthusiasts a new way to engage with the art world. 
  5. The thrill of collecting! — Most of us can recall our early days of collecting baseball cards, stamps, coins, shoes, you know it… Collecting is a part of who we are as humans. Whether it’s to create a collection that captures a particular mood, style or simply knowing that you’re the only one to own a particular artwork, collecting is a fun and rewarding experience.

What Can You Do With Rare Digital Art?

Another common question for those new to collecting rare digital art is what can you do with the art you collect? The possibilities are endless. Learn even more ideas on what you can do with your rare digital art.

  1. Show it off — Rare digital art differs from physical art in the sense that is not a tangible object you can hold or hang on your wall. However, that doesn’t mean you can’t display your rare digital artwork for the world to see. Rare digital art can be displayed and exhibited just like physical art. However, unlike physical art, rare digital art exhibition is not limited by geographical barriers. Artists and owners alike can display their art to viewers around the world through a number of virtual art galleries, including those in the emerging VR metaverse
  2. Enjoy it privately — Many collectors purchase artworks to showcase in their homes and personal spaces for pure enjoyment. Rare digital art can be enjoyed in the same way. Companies like Meural and Canvia have introduced digital frames for this purpose exactly. Now people around the world can fill their homes with dynamic, moving artwork… like something out of a Harry Potter movie. Rare digital art can also be enjoyed on monitors, tablets, or even printed out to be framed and hung.

By now you are probably ready to begin building your beautiful rare digital art collection, so without further adieu, here are the steps for making your first rare digital art purchase on MakersPlace. 

How To Purchase Rare Digital Art on MakersPlace

  1. Create a MakersPlace collector account
  2. Discover new and popular artworks and artists by browsing our Discover site. If you find an artist you love, be sure to follow them to stay up to date with their new releases.
  3. Follow artists and collectors whose style you admire — This will populate your personalized home feed with artworks curated to your taste.
  4. Check out our weekly Drops featuring curated works from world-leading digital artists.
  5. Buy art using your credit card or ETH. For purchases with ETH we support all major digital wallets: MetaMask, Coinbase, TrustWallet and more.

A Note on Collecting

Some things to keep in mind when you begin purchasing rare digital artwork on MakersPlace:

  1. Buying vs Making Offers — When you’re ready to buy an artwork, you can either purchase the artwork (if the artist has set a price), or make an offer. It’s recommended that your offer is at or above the artists’ reserve price (if listed). If you only see the Make an Offer option, it means that the artist is waiting for the highest offer to accept.
  2. Editions (Single vs Multiples)— As you begin to explore the artwork on MakersPlace you will notice differences in the number of editions available. As is the case in the physical art world, rare digital art’s value is largely determined by the rarity of the artwork. This means that the fewer editions that exist of a rare digital artwork, the higher its value. Although this is the case, multi-edition artworks provide collectors the opportunity to own a piece at a more accessible price point.
  3. Gas Fees — MakersPlace and rare digital art is run and managed by a blockchain system. As a result, each transaction made on Ethereum requires a small gas fee, which is paid to the operators of the Ethereum blockchain. If you’re using a digital wallet to purchase artworks, this information will be made available to you through your wallet. If you purchase using your credit card, MakersPlace will handle this for you.

Rare Digital Art: The Future of Art

The rise of rare digital art is changing the way the world interacts with art for the better. The current rapid growth of this new art movement is surely just the beginning. More artists, collectors, and art enthusiasts are being awakened to the endless possibilities rare digital art has to offer. So what are you waiting for? Join the rare digital art movement today. 

Get in Touch

If you’re a digital creator, you can learn more about MakersPlace here.

Ready to start your rare digital art collection? Join here.

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