Direct Purchase [Fund 5] Auction options Fiat gateway integration [Fund 5] Wallet integration for buy/sell [Fund 5] Wallet integration for storage [Fund 5] Stats on platform
Backoffice + Cardano Infrastructure
Integration of Cardano smart contract templates to deploy and mint NFT based on artist/museum requirements [Fund 5] Admin-driven configuration to be able to set up types of NFTs, Revenue parameters etc. Artist/Museum on-boarding, art-work management Workflow to ensure onboard of artists, museums
Fund 5 - Budget Request
$3,500 - Marketing Platform $14,000 - Marketplace $10,300 - Backoffice + Cardano Infrastructure Total request $27,800
ROADMAP
How do we plan on bringing our project to fruition
Month 2: Finalize relationships with seed museums, galleries and art fairs in our initial art source market Miami, FL, USA Month 2: Finalize Exhibition home website Month 3 - Finalize marketplace Month 4: Soft launch Month 5: Network stabilized Month 6: Full launch Month 12: Build relationships with our second art source market Cape Town, South Africa Repeat the process and continue to expand city by city.
CONCLUSION The project is looking to create a niche for itself within the multi-billion dollar art industry that can be extended out to paintings, music, photography etc. We believe that high-end art needs exclusive platforms that cater to the industry's needs rather than generic marketplaces. Additionally, and importantly, artists in underdeveloped or developing nations will have an elevated playing ground in showcasing their talents with access to a global market.
Cardano will be a great technology partner that can aid the project to further our vision for what NFTs can do for artists. Especially through the vibrant community that Cardano has along with the alignment we find ourselves in elevating talent in markets such as the African nations.
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APPENDIX/ ADDITIONAL READING
What does digital art on NFT mean really?
NFTs are non-fungible tokens that run on a blockchain network, a digital ledger that records all transactions of cryptocurrencies like bitcoin. The difference with bitcoin and other tokens, though, is that each NFT is unique and can't be replicated, which makes them sellable. NFTs offer a formalization of digital ownership, cleverly responding to the art world's need for authentication and provenance. Each one accrues value independently, deriving their value from how scarce they are.
Crypto art is the strongest growing subsection of the digital collectibles market. While Digital Art has a long-established history as an artistic medium, it was the introduction of NFTs and blockchain technology that provided the possibility to assign value and provenance to digital works of art. This was previously impossible due to the ease of duplication.
Each NFT-based digital creation now contains a digital signature from the artist and all vital details including time of creation, edition size and a record of any prior sales permanently attached to the artwork. Noah Davis, Specialist, Post-War and Contemporary Art, remarked that "NFT-based art is on the threshold of becoming the next ingeniously disruptive force in the art market." A true exercise in abstraction, the actual NFT-based artwork is just a code, it doesn't exist. Explaining that Christie's has never offered a new media artwork of this scale or importance before, he says this sale places the auction house "in the vanguard of this exhilarating movement." Beeple adds:"The technology is now at a place with the blockchain to be able to prove ownership and have true scarcity with digital artwork so I think we are going to see an explosion of not only new artwork, but also new collectors and I am very honored to be a part of this movement."
As NFTs become ubiquitous, we need a system on Cardano that ensures rapid development of emerging use cases, interoperability between all parties and that supports Cardano to become the de facto choice to launch NFT businesses.