For thousands of years, tattoos have been an international phenomenon that has endured cultural changes and technological advancements. In an effort to stay relevant in an increasingly digital environment, the art is now making inroads into the nonfungible token (NFT) field as it continues to expand.

Keith McCurdy, better known as Bang Bang in the tattoo industry, is one of the artists attempting to combine the tattoo culture's aesthetic with emerging technologies. He's applying a novel rewriteable tattoo ink that changes appearance depending on the amount of light.

According to Bang Bang, researchers at the University of Colorado have been working on a tattoo ink made of photochromic microcapsules for the past five years. This technology, known as "tech tattoos," leaves a color-changing mark that is activated by UV light, changing the tattooed image as it does so. He envisions technology as a means of bridging the NFTs' undeniable distinctiveness with the tattoo culture's demand for individuality. He sold the first rewritable tattoo as a 1/1 NFT back in June for 100 ether (ETH), which was equivalent to around $100,000 at the time.

McCurdy told Cointelegraph:

"Our digital identity will become very important in the future. It may already be more important than our physical identity today. Individualization in a digital world and defining one’s identity is what we do best, and in that exists endless parallels and opportunities."

Indelible is a company that is working to connect the tattoo community to Web3. It allows owners the opportunity to utilize their intellectual property rights by creating new tattoos and adding I to pre-existing profile image (PFP) NFTs. Indelible's founder, Mike Amoia, stated:

"NFT holders are always looking to monetize or do different things with their IP. And we feel it's a really interesting way to monetize or even have fun with your IP by putting like famous tattoo art on it."

The firm was founded eight months ago with the notion that tattoo artists should be able to market their services outside of their studios and have access to an unlimited number of ways to earn money from their artwork.  "We felt like it's a really fascinating application for tattoo culture, and we wanted to do it in the opposite way, which would be tattooing characters on real people. We wanted to tattoo Web3."

Two years ago, Amoia, who is also an angel investor, opted to start his own firm that would explore the untapped potential of merging tattoos with NFTs. He stated that tattoo artists Mike Rubendall, Matt Skinny, and Bj Betts will sign the project's initial collection of PFP characters. Animoa said:

"All communities should embrace projects like this and then vice versa because we're all helping each other out. The more successful my project is, it helps out all the other ones because it's just getting more people to understand what it is."

NFTs are digital objects with features like uniqueness and non-interchangeability that can have their validity validated on a blockchain. They fall under a number of areas, but blockchain-based video games, music, and art are where they are most frequently seen. NFTs have dominated the art market during the pandemic, with digital tokens fetching tens of millions of dollars at prestigious auction houses.

Verified Market Research (VMR) predicts that the NFT market will reach a value of $231 billion by 2030. The industry is expected to expand by a 33.7% compound annual rate over the following eight years. Among the numerous fields where NFTs are in high demand are the arts, entertainment, and sports.

Nov 5, 2022
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