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ATTENTION ARTISTS: As a long time collector, dealer, curator, and gallerist - I've witnessed the ways in which an artists market can fail. As we enter this new world, I see some of these mistakes happening and have created a list to help you avoid them. #nft #nftart #blockchain
The glass floor: A rising price floor for your artwork should be due to steady accomplishments and a growing collector base. If a steep increase occurs, the size of your base will shrink. If you lose your buyers and need to lower the price, your floor will shatter=market collapse
The pity party: Ever had a would-be collector plead with you, wishing they could afford your work? Maybe you take empathy because you've been in a similar situation - watch out, when the going gets good they're usually the first to flip. Refer here: https://bit.ly/3mQx0tJ
The commission: It's flattering to have a collector want your work, but the buck stops when they start injecting their desires for how it should be. Nothing's worse than someone else's vision interfering with yours -suggestions are fine but its your name on that work not theirs.
The Eager Beaver - Checking every hour if your art has sold? What if I told you not to worry about when but who. The person who is deeply moved with your work is worth 10 that question why they bought it in the first place. So spend your time connecting instead of selling.
The total domination aka the “Stefan Simchowitz.”( https://bit.ly/3mnh55l ): One of the worst things for the longevity of your art career is giving up too much work to one collector. If you aren’t careful they’ll extort you for cheap work, ruin your market, and give you a bad rep.
The middle man: Has someone asked you to sign a contract? What about offer help marketing work for a cut? STOP RIGHT THERE. #NFTs enable you to go directly to your customer, and your social media is probably better than theirs! So ask yourself what their value add really is.
