Artdeco set to change NFT marketplace game
Artdeco, a platform that links digital content creators with buyers, is set to change the non-fungible tokens marketplace game with the launch of a dais where creators and NFT makers can mint and be sold by curators.
NFT is a digital asset that represents real-world objects like art, music, in-game items and videos.And they can be bought and sold online, frequently with crypto currency, and are generally encoded with the same underlying software as many cryptos like Bitcoin.Now, the NFT boom is in full force as big brands, celebrities, musicians, athletes are minting their own NFTs to capitalize on the latest crypto trend, making millions in the process.
However, to turn their work into a Non-Fungible Tokens (NFT), creators must first “mint” a token using Artdeco’s Dapps.Similar to other tokens on Binance, the NFT can be transferred between wallets using Artdeco’s software.
Artdeco’s spokesman, Paul Trend, explains further thatthe platformleverages the Binance block chain to embed within a NFT’s code the full history of its owners and transactions.
“When a transaction goes through, both the buyer and seller have to pay transaction fees that go to the Artdeco network.One interesting feature of NFTs is the ability to programme royalties, or the rights to future cash flows, within these assets. This means that creators on Artdeco can set a percentage of future sales and collect them automatically by issuing a token. This is a major feature drawing creators to this technology, because unlike the traditional content platforms, NFTs can be designed to pay out royalties immediately.
“For instance, if a piece of digital art listed a 10% royalty, the creator would receive 10% of any consequent sale of that art. Artdeco is an Elon Musk-inspired market solution. It’s a valuable digital token inform of digital currency, much like Bitcoin or Ethereum.But unlike a standard coin in the block chain, a NFT is unique and cannot be exchanged; this is why it is referred to as non-fungible,” he states.