Christie’s is a name and place for extraordinary arts, unparalleled service, expertise, and global reach. Christie’s offers 350 auctions annually in over 80 categories.
At Christie’s, the recent Vincent Van Gogh was sold for $16 Million, the last Picasso for $15.6 Million. Today they sold an NFT art called ‘Everyday’ by an artist called Beeple, who has only sold two more art pieces in 2020 and nothing before that, for $69 Million! Beeple’s previous record was set in late February when a work that someone had purchased just months earlier in October for $66,000 sold for $6.6 million—a 9,900% growth. Before that, his record stood at $777,777.777, which was set in January.
The art world has struggled with the issue of scarcity and ownership surrounding digital assets like photography or videos. It’s very hard to protect an original artwork from piracy when there’s potential to multiply and distribute the original.
Piracy is the key reason for the fall of the art industry at its unique values. NFTs with its significant characteristics manage the uniqueness of your art and other collectibles with increasing demand value in the marketplace. The NFT it’s rife with Beeple’s signature creations which empowers the art industry as well as the spike of NFTs.
Art industry’s empowerment with NFT Marketplace:
Artists
Artists don’t retain any stake in their early works. Tokenization allows artists to gain a percentage of tokens as royalty each time the token makes a sale. The artist’s royalty allows the artist to become an early-stage investor of their own creation, which gains the interests of artists and their collectors.
Gallery Owners
NFT tokenization facilitates gallery owners with a better option for immediate liquidity that doesn’t come with interest rates on loans. The existing feasibility of an art owner seeking immediate liquidity without is to seek an art loan that would acquire the ownership of the artwork itself. Lending platforms offer liquidity with collateral of your tokenized art which offers complete ownership of your art.
Art Dealers
Tokenization of arts empowers collectors, investors, dealers, and artists with the storage of all the data related to the artwork. Tokenization also includes authenticity, history of ownership, exhibitions, and other important information.
Collectors
By tokenizing the art market, The platform offers an ecosystem for investors for transparent access to the fine arts market. collectors can make an offer instantly to buy paintings that an investor owns tokens in.
Investors
Opening this NFT marketplace to new investors will increase capital and growth in the NFT market. Crypto holder investors can now invest in art pieces through Marketplace and get exposure to an asset class.
Marketplaces like Opensea and Rarible offer exclusive art-backed NFTs which also opens a wide range of possibilities for other unique tokenization. Marketplaces like sorare adopted fantasy sports as their niche and travel on a narrow platform which also attracts huge audiences to their marketplace. Recently, v.cent.co, a marketplace for selling tweets as NFTs, set its new trend in the NFT marketplace.
The Marketplace:
An NFT marketplace is a multi-functional platform that allows you to convert your collectibles into NFTs. The marketplace offers feasibility for collectibles like Art, games, virtual assets, video clips, and the categories evolving with the trend of new innovations for tokenization.
What makes NFT Marketplace development a profitable revenue stream?
Ownership: Artists can retain tokens to acquire ownership over their artwork, perfectly aligning their interests with their collectors. Tokenization allows artists to have full control over their creations.
Liquidity: Collectors, galleries, or art owners get a better option for liquidity with collateral. This supports the artists and other creators to have immediate funding options over their NFTs.
Portfolio Diversification: Unique arts as an asset will offer a diverse portfolio for your profile which supports the creation of upcoming NFT assets.
Transparency: Tokenization of your unique asset into NFT provides authenticity, history of ownership, exhibitions, and other important information
Exposure: The marketplace offers the ability to trade, purchase, and sell NFTs across various marketplaces using a decentralized bridge or centralized custodial service. Also, the projects will be automatically listed in the marketplace for investors’ knowledge. NFTs can be sold in English and Dutch auctions and other bidding platforms.
Waiting for the right time? It’s NOW!
NFTs multi-specialty feature brings out tremendous opportunities in NFT marketplace development. The platform keeps evolving with the new trends in NFT. Early adopters of the NFT marketplace like Rarible and Opensea started their fortune hustle in NFT marketplace development.
At Blockchain App Factory, our crypto enthusiasts find it as a better opportunity to offer a profitable business platform with their pioneering skill and experience in blockchain. we offer our marketplace development solution in multiple blockchains like FLOW, RUBIX, ETHEREUM, MATIC, etc.
Our experts will guide you throughout the journey to develop your customizable marketplace for the evolving NFTs in suitable blockchain to build your revenue stream and compete with marketplaces like Rarible, Opensea, sorare, crypto kitties that count in millions.
