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3Space Art Moves into NFT Digital Art, a Revolutionary Step Ahead in the Field of Blockchain Application

Published On 11 Dec 2021 11:38 AM


Art collection has long been a hobby, and a passion, amongst numerous individuals across the globe. Art collection refers to the accumulation of art works by either an individual or an institution for public display or private viewing. Art collection was mostly done by the royalty and the aristocracy, and many of the art works in public institutions were acquired by government bodies during the transition of power from a monarchy or dictatorship to democracy. Art collection has existed since the earliest of civilizations, predominantly in Egypt, Babylonia, India and China. Interestingly, there was an insatiable hunger for both Greek and Roman art, and counterfeits and second copies of various artefacts were created to meet the growth in demand, especially amongst the royalty. Art collection was seen as a symbol of wealth, and many of the paintings belonging to legendary artists such as Picasso, Vincent Van Gogh and Leonardo da Vince, amongst others, are sold for millions of dollars.

However, in recent times, digitization of art works as a result of the growth in smart devices and the internet is gaining traction, especially amongst emerging artists and designers. The world of blockchain and cryptocurrency is gaining immense popularity in recent times, and the application of blockchain in digital art trading is being greatly emphasized in the last couple of years. The incorporation of blockchain in digital art is possible due to the concept of a non-fungible token, which is commonly referred to as NFT. Non-fungible refers to the uniqueness of the entity, as it cannot be replaced or interchanged with another entity. For instance, a bitcoin is fungible, as it can be replaced by a similar bitcoin with the same value, while a digital art which has the digital signature of the artist is non-fungible. To make the world of NFTs in art design more practical, prominent art company 3Space Art has ventured into the world of digital NFT art by launching an NFT platform. This platform will help in the display of art not only in the digital sphere, but also in physical spaces, which in turn allows the artists and art collectors to display their digital art in live events and public spaces, thus helping in the generation of additional revenue.

New creators are moving into NFT-based digital art at an unprecedented rate. But, many individuals aren't familiar with digital art, and the display of digital art in public spaces will help in enhancing the reach of the art works amongst traditional art enthusiasts as well.

3Space Art co-founder Yoon Kim mentioned that the goal of their NFT platform is to ensure that the digital works of various artists get the required attention, and not become sidelined in the coming years. The three main components of 3Space's NFT platform include - NFT marketplace, offline exhibitions, and art pools.  

NFT marketplace enables artists to sell their digital works using fiat or cryptocurrency. Assistance regarding minting, onboarding and marketing will also be provided to the new creators to help them reach more users. Art pool is a protocol for artists, as well as art collectors, to provide rights to 3Space to display their art in both offline and online events. The collections received during the events will be distributed to the stakeholders. Offline exhibitions, on the other hand, is a partnership between 3Space and galleries, corporate offices, and other departments, for streaming of NFT art to the NFT display equipments at both offices and homes on a subscription basis. Thus, the creators and collectors can generate revenue by tying up with the company, and reach more users in the long run.

About 3Space Art:

3Space Art is a digital art platform which is used by numerous artists and collectors. Through their collections in events and exhibitions they earn recurring revenue by capitalizing their available NFTs in the art pool.

To read more about the company's NFT digital art initiatives, visit https://3space.art/home


Press Release Provided By: Industry Global News24