The headlines for Non-fungible token (NFT) activity have been slowly shifting away from the record-breaking sales towards a more structured coverage of the recent developments, pointing to healthy market stabilization and growth. The underlying technology is here to stay – we take a look at some of the how’s and why’s.
How are brands building on the NFT craze?
For many, the answer is closer than we think. NFT utilization goes beyond enjoying and trading a work of digital art in one’s wallet. Ticketing, membership badges, wearable items, gaming assets, and domain names are some of the many other functionalities that the NFT allows. As with any new digital ecosystem, the naming aspect remains a crucial part of one’s brand. It is the first thing users see when discovering your product, service, or art. Making the name memorable can go a long way.
.ART domain becomes the home for NFTs
The most apparent and valuable aspect of owning a .ART domain is the element of identity. Art is one of the most powerful and memorable words on the planet that requires no explanation. With a .ART domain name marketing your website is simple and allows you to stand out in the sea of noise. It helps with SEO, is a short identifier, creates space for creativity at a fraction of the price, takes the pressure off of making sure people understand what sector you operate – in short, it makes sense.
Want to see it in action? Here is a comprehensive list of businesses in the blockchain and NFT art communities operating under the .ART umbrella:
NFT Marketplace to create, collect, and trade programmable art
On Async Art creators can add layers to their artwork, making ‘master’ and ‘layers’ NFTs. Each master is made up of various layers that exist as NFTs independently from each other and can be altered by whoever owns the layer. Async Art also released Async Music, giving the ability to change music composition and tracks to create unique combinations of sounds.
First Supper, by Shortcut, Josie, Sparrow, mlibty, Vans Design, Alotta Money, Twisted Vacancy, Coldie, Hackatao, XCOPY, Matt Kane, Rutger van der Tas and DIGITAL via Async.art
Creative community with integrated blockchain option
DADA is the first social network for collaborative visual conversations, uniting the art-making process with the dialogue it sparks. The platform integrates the use of blockchain technology which makes it possible for users to monetize their creations.
A token of creation through destruction
Launched by the renowned digital artist Pak, burn.art allows users to burn NFTs to receive ashes ($ASH – Pak’s token) in return. Similar to the physical world, burning a token on the blockchain results in its removal from circulation, i.e., permanently destroying the NFT. Playing with the lack of boundaries and the fluid nature of the virtual space, Pak recreates the cycle of life, inviting people to “Burn art to get ashes to get art to burn art.”
Network to discover, buy and sell digital artworks online
The BC/A platform features a built-in digital artwork management system tailored to the art world. BC/A provides a secure way for artists, gallerists, institutions, and collectors to manage, sell, and buy digital art.
NFT digital assets marketplace
The limited edition platform offers a range of blockchain-focused products and services that correspond to domain names: assets.art, authentic.art, coa.art, codex.art, hodl.art, ledger.art, kyc.art, verify.art, wallet.art and watermark.art.
NFT liquidity pool and licensing rights
The All-Art protocol provides constant liquidity for NFTs by introducing a new type of liquidity pool, AMMs. While also upgrading the current NFT standard with improved functionalities and embedded license rights called NFT-PRO. They won second place in Solana Season, the largest blockchain hackathon in 2021, and are aiming to provide the art market with much-needed solutions, including copyright and licensing of the NFT artworks.