Is 60 billion art market blockchain-agnostic? A hand-on-guide to Artsted NFT features.
Decentralization has now become the cornerstone of future finance, with WEB3 taking over the processes previously conducted by intermediaries and instead transforming them into peer-to-peer transactions.
In all of that, the art world has found its most evident application: technology-enabled art creation and trading of the original file records: the NFTs — that we first spoke about in early 2020.
2 years later, NFTs are now a household name in the art world: auction houses opening up NFT departments and buying virtual land in the Metaverse and reaching record sale prices for digital artworks, NFTs are exhibited at Art Basel and are widely recognised as a valid artistic medium.
In all of that, we Artsted.com couldn’t ignore this change and instead focused on what could be done to facilitate market entry to those artists — who work in traditional physical mediums: painting, sculpture, drawing or mixed media.
That’s how the idea for Artsted NFTs branch of operation was born — with a mission to build bridges between the physical and the digital, providing NFT market entry opportunities to visual artists of traditional background. The Artsted minting service is geared towards artists of all backgrounds and requires no prior blockchain knowledge to use.
Artsted is now offering the NFT artwork alongside its physical artwork listings, that can be bought and sold using the eco-friendly low-emission Polkadot blockchain.
I am an artist: how do I create an NFT artwork?
- The Artist selects “NFT” in the drop down menu and fills in the necessary information fields and uploads a file or files to be associated with the NFT upon issuance
- The Artist submits their NFT for review, after which the associated information and files are processed and the provided meta-data is reviewed for fraud and veracity
- Once the NFT has been approved, the artist receives an email link to complete the process by verifying their identity, which, effectively creates a digital signature which will be associated with their NFT in perpetuity
- Once the NFT is listed, investors can purchase it normally, using either crypto or fiat currency, and choose to keep their NFT on the Artsted dashboard or self custody in their own wallet.
I am interested in buying an NFT artwork.
- Once an investor has identified an NFT that they wish to buy, they simply go through the purchase flow from their registered user profile.
- Once completed, the investor can choose whether to keep their NFT on the Artsted Dashboard or self custody by sending it to their own wallet. If an investor does not have a crypto wallet, no worries, their NFT is safe on Artsted and they can choose to send the NFT to another wallet at anytime by contacting our Collector Liaison at firstname.lastname@example.org
What sets the Artsted NFT apart
The Artsted approach to NFTs is informed by a deep and comprehensive understanding of the art world and a desire to optimize the way digital art is created and transacted, both from the perspective of the artist and the investor.
- A digital signature is simply the association of the Artist’s identity recorded as a root hash within the metadata of the NFT. This association of identity functions as the artist’s digital signature, which can be verified and authenticated at any time.
Artsted NFT Database
- NFTs minted with Artsted are permanently associated, categorized, and verified within a growing database, wherein investors/ collectors/ exhibitors can verify the authenticity and digital provenance of an NFT
Artsted AI Analytics:
- Artsted is the only marketplace provixing exlusive AI optimized market analytics for investors and collectors, which is an indispensable tool given the opportunity for art asset liquidity provided by the NFT technology.
Roadmap and future buildouts
- Artsted Web3 wallet
- Expanded NFT capabilities: Dynamic NFTs / NFT Certificates
- Metaverse Art Displays, for both NFT Art and Traditional Art
- Proprietary Valuation Algorithm and Valuation Bot
- Artsted Parachain
Artsted is a cutting edge technology enterprise operating in the P2P online art market segment catering to a new generation of art collectors and artrepreneurs.
text by Maryna Rybakova