(MENAFN – BreezyScroll)
Given that the COVID-19 pandemic has been responsible for major closures of physical and physical locations, it’s no surprise that the transition to virtual and online sub-reality has grown in demand. Along these lines, the same can be said about digital products. This is precisely where the concept of non-fungible tokens comes in. While non-fungible tokens have been around for a long time, the 2020s and 2021s have been particularly notable for buying and trading NFTs or non-fungible tokens.
What exactly are they? NFTs or non-fungible tokens are basically contracts that denote ownership of a particular digital asset and can be backed up through a blockchain transaction. This applies to videos, gifs, memes, photos, digital art, sports readings and much more. The possibilities are literally endless. However, there is one particular ‘possibility’ that has never been digitized before as an asset to own nor introduced to the world of non-fungible tokens: street art.
No one can dispute the fact that street art is a fairly common form of artistic expression in universal reality. It can be spotted in just about any exit in town. So how exactly did it get into the digital world or the NFT metaverse? The answer lies in Streeth, a burgeoning NFT Blockchain company that is revolutionizing street art as we know it. Before Streeth, street art was for the most part strictly limited to the streets: along the walls of buildings, under bridges, plastered with billboards, etc., but never quite crossing the realms in the Metaverse. However, Streeth decided to change that. Using the Ethereum blockchain, for the very first time, Streeth is making street art available for purchase as a non-fungible token. In other words, this means that a digital form of the artwork is now available to be owned only through Streeth’s meticulous curation, minting, and auction process.
Once purchased, the complete information of the new owner is recorded in the Ethereum blockchain, thus legitimizing their ownership. The owner is then able to freely access the NFT illustration with a few simple touches on the phone screen. And to view its ownership status, just scan the corresponding Streeth QR code which will then lead to the dashboard that represents proof of ownership. Talk about digital bragging rights!
Not only does Streeth bring street art to the NFT metaverse, but he also brings another experience of the physical universe and brings it to the metaverse: museums.
That’s right – Streeth is also launching the “Museum” in conjunction with her curation and street art auction. Hence its name, the “Museum” is as the name suggests: a museum-like platform for viewing digital art. To make it all the more realistic, it will be offered in virtual reality. Owners of street art will be able to lend their own pieces for display in museum exhibitions.
Streeth co-founders Marco Calamassi and Danilo De Rosa have been in Fintech, Blockchain and Startup investments and management for over a decade and this company has been in R&D for 6 months before its launch is planned. in the second half of September. .
Streeth’s digitization of street art and its facilitation as a non-fungible token is a boon to both the art collector and the street artist himself. Previously, street art was not eligible for private ownership and sale, and the street artist was not able to monetize and profit from his street works. The street art work also had no rights of protection. However, this is all a thing of the past, because with Streeth’s recent and promising innovation, street art is now able to encompass all of these concepts, making it useful to both art collectors and street artists alike. .
In this sense, not only can art collectors take their art collections to a whole new level given that street art has never been privately owned, but it is also a promising prospect for artists from around the world. street who are now able to get a more remarkable image and profitable mention. And it’s all happening on the NFT metaverse!
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