From supply-chain tracking to encrypted documents distribution and smart-contracts, blockchain technology has been powering corporate-houses of the likes of IBM, JP Morgan, and Volkswagen for the past years, and the use-cases utilizing some sort of a DLT, whether for financial-related purposes or not are growing with an exponential rate.
One of the areas with the most heat right now would be that of digital art, or basically, audiovisual material, usually with aesthetic-purposes and stored on a blockchain , that can be mined, stored and redistributed among internet users.
Sure, digital artists, whether musicians or graphic designers where always a thing of the internet, but what blockchain offers to the table is scarcity, history, and value otherwise impossible to determine when browsing gifs on 4chan.
Top Floor of The Rose Nexus 1 Quadro Expressway Gangnam Neon District, Origin City 2520 https://t.co/Rn3Cwkq5bL pic.twitter.com/uIKMferjDo — danky.art (@ConnieDigital) November 20, 2019
Core differences between crypto-art and traditional digital art
Practically, it is one thing to own a digital image someone created with his cracked-version of photoshop that was later uploaded on a digital art broker website only to sell an infinite amount of the same image to art consumers who won’t care how many people have already purchased the same piece, and it is a totally new scenario when digital art can be registered on an immutable distributed ledger, timestamped, and attributed to a single crypto-wallet.
In a nutshell, owning a getty image is equal to owning a fake Mona Liza that has an infinite amount of supply, while owning a blockchain-based collectible is equal to owning the original Mona Liza, which is registered to a specific user and can be traded only if agreed between the owner and the potential buyer(s).
Due to the DLT architecture, examining the authenticity and integrity of a digital art piece should be a piece of cake, and it wouldn’t require shipping, chemical analysis, and all that physical stuff a supposed Mona Liza would require, not to mention that in some cases, a piece can be extremely unique from an aesthetic point of view, making it even more valuable for some collectors.
Besides the popular crypto-games such as CryptoKitties , Gods Unchained etc, there are unaccountable digital lobbies and even entire virtual worlds set on blockchain environments where netizens can practically purchase or acquire by means of trade anything from land parcels and buildings, all the way to crypto-collectibles such as MarbleCards , and virtual clothing and accessories designed by digital artists all over the globe.
Ethereum’s ERC-71 protocol makes the issuing, possession, and trade of such unique digital assets possible, and there are many enterprises that focus solely on the creation, custody, and distribution of crypto-collectibles attracting digital collectors and virtual gamers who are looking for that unique AI-generated painting or a brand new shirt in CryptoVoxels (an Ethereum based virtual world).
Shout out to @n0shot1 ! These Crypto Kicks are