Art Blocks Overview
Platform Art Blocks is a new tool on the market non-fungible tokens. With its help, authors of digital paintings with a unique digital code can, using a special algorithm, mint a certain number of works for thematic collections, set a minimum cost on them and start exchange trading on the platform Art Blocks NFT.
When the platform generates the seed of the selected digital artwork using a randomly generated hexadecimal string, the buyer receives an attributed digital artwork, which will differ from the original by the color shade or the shape of the image, which can be:
- volumetric 3D;
The minted instance goes online as a standard non-fungible token that is exchanged for Ethereum. For minting, the platform charges a 10% commission for the first token sale. For subsequent sales, the commission is reduced to 2.5%, and the author of the digital masterpiece receives 5% of the royalties on a regular basis through the platform.
Platform Specific Art Blocks
Art Blocks NFT allows you to turn a non-fungible token into a real digital asset that can be profitably traded on other NFT platforms. Prior to this, analogs allowed users to confirm only their ownership of a specific picture from the collection and receive a certificate of authenticity for it. After that, the new owner could use peer-to-peer networks as a storehouse for their tokens and use the acquired digital picture according to their needs and requirements.
Platform Art Block, integrated with Ethereum cryptocurrency blockchain, transformed digital paintings into a real asset that can be sold on a special exchange. With its help, not only the authors of digital artwork, but also the new owners of the attributed picture will be able to receive significant income.
Another difference is the use of a random algorithm to create a unique attribute of the artwork, which is securely encrypted in a special code that protects such a virtual image from complete destruction.
Ecosystem Opportunities and Perspectives Art Blocks
As conceived by the developers Art Block, reviews which has already been left in network of a huge number of users, the platform plans to offer a new service soon – renting video games, which will bring their authors a stable income. Players will be able to sell their positive results to other users much faster and more profitably using NFT products and technologies. Also, new methods of auctioning digital paintings are already being tested, which should create fairer conditions for real auction participants, excluding the possibility of buying out this or that lot with the help of robots.