Digital art is an artistic work or practice that uses digital technology as an essential part of the creative or presentation process.
Digital art faces a new genre, fueled by the fantastic run crypto has had in 2017, crypto collectibles trading and making. The well-known example of Cryptokitties, reaching peak valuations and mainstream media attention at top economic news outlets, being the most popular dapp on the Ethereum network (accounting for about 11% of transactions at some point) also famously causing the whole Ethereum network to clog the last December. Style-wise, most of the collectibles that came after Cryptokitties had the same cartoon-comics artwork, which made some people skeptical of the real artistic value of these collectibles.
Rare Pepe's, are the first of the non-fungible tokens, built on counterparts and made very popular by using pepe the frog, probably one of the best known internet meme out there, the idea of having a unique and immutable piece of art must have had some appeal on the sometimes cynical bunch that is the crypto-investor community. The soft spot for memes this community has, can’t be denied though, Dogecoin, based on little more than the image of a Shiba-Inu dog and some changed parameters to bitcoin source code, has managed to attract a cult following and a 100 million dollar market valuation.
Marketplaces for crypto collectibles and NFT’s have also been garnering attention from market watchers. Back in April of this year, the group of former Zynga ( a leading mobile game development company, traded on the NASDAQ) employees created Rarebits, a marketplace for eth-based collectibles - investors include spark capital and SV Angels.
Another significant option for trading collectibles on ETH is Opensea.io, a marketplace for collectibles and gaming items, with a wide variety in their offering of ETH based assets, and a market for up and coming releases of collectibles directly to market.
For those who feel this space is going to evolve further and want a piece of the action, an up and coming contender is Portion.io, marketing themselves to the higher-end of collectibles, and team members from Sirin labs-the blockchain phone with safety features custom made for coin storage. Portion seeks to set itself apart by their plans of expansion into the traditional art sector and by offering exclusive access to artists that already have some recognition and market value to their work, with decentralized proofs of originality for artwork, escrow services, insurance, financing, and short-term loans secured by the asset. For the investor, the interesting angle is, of course, the profit sharing, which is what sets this token apart from other.
Talk about crypto killer app being these collectibles, now I can know my trading cards are really one of a kind.
Until the real masters of gaming and teen culture don’t come in, that is the Japanese, I don’t see a real future for gaming related cryptos as far as investments go, a real viral card ICO should include something like a manga or an anime attached to it, this shit could be epic
An ICO idea right here, why don’t you run with it man?
Too late lol! Once you have it online-someone's already take it
Get a load of this thing, it is advertised on cointelegraph like crazy and recently got an article written about it, it can only be sold for a higher price than you bought it for, which means that if the thing tanks, you can’t even walk away with half your money for example:
https://www.mycryptons.com/?utm_source=CT&utm_medium=banner&utm_campaign=bclinton_mp
This is how you sell things, you just create a weird ass bug and use the advertising department to market it as a feature, brilliant TOP class performance.
it is always fun while it lasts though, nothing is more fun than not being the greater fool
As long as it's got a digital signature - it can be stored on the block.... and then it means you cannot double spend the same unique item, whenever smart algorithms involved you can do magic! I would put my money on a piece of art though, instead of on a cat, besides, I am a fox guy anyways...
When people are being told what they CAN and what they CAN'T do - things usually gets broken.
I know it will sound stupid but, MAYBE I do want to sell it for a lower price than it "should" cost by the algo...
When really big and high-cap organizations get into NFTs let me know, I want something like the NFL or the baseball league making crypto assets, until we have this, there is nothing to see here
You do have a point, getting to the normie crowds would require some high caliber orgs like major sports leagues to get involved, this being said, getting in before the normies start piling in is always a good idea
You can’t just rely on “high caliber orgs”, fashion TV has had their ICO going on for some time now, but no one even talks about it, something in the mix is missing
Well, it does help if the coin has some use case or business model, no use just having a big name sponsoring coin. Doesn’t mean anything if one giant’s coin offering doesn’t work
Actual usecases… big names… this is not the crypto I know and love..
I do see the potential of collectible marketplaces for when the next boom comes, the profit sharing of the platform income is the essential bit, everyone has gotten a lot more picky about their investment decisions and rightfully so, no one can expect to just come out with some bullshit and get 20 million in an ICO
Sounds like Portion is the one for you out of the ones mentioned, I agree there isn’t much point of investing in a marketplace otherwise
If there isn’t I don’t see why the token would have any value….it’s not like there would be some use to it otherwise
When is the WP coming out?
portion already got 5.5 million dollar from institutional investors even without A public white paper, check this out https://venturebeat.com/2018/07/25/portion-launches-auction-house-for-crypto-art-and-collectibles/
I for one believe in the collectibles market for the long run, the law is that there’s always one more meme...
After Dogecoin I’m not surprised about anything that happens in crypto, neither should anybody else
Cryptokitties is what did it for me personally, I had some common sense before they happened
Good one, that might actually be true though, the world sure is a weird place
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