NFT: Putting art back at the center of the token

What if NFTs were also art? It’s a simple question in an ecosystem that quickly wanted to declassify NFTs as art because it was too speculative. Today all NFT is utilitarian and always more inventive, NectArt wants to refocus on the artistic side.

Putting the artist back at the heart of the project

To better understand the project NectArtCointribune was able to discuss with Paul Llagonnestudent at HEC and co-founder of the project.

The observation of Paul and his 2 business school classmates is simple: current specialized marketplaces mainly offer artists from the digital world and NFT culture. NectArt wants to be the bridge between NFT technology and traditional artists.

The future NectArt platform, the beta being planned in the next 3-4 weeks, will fully integrate the notion of community, feed like on Instagram, and interaction between the artist and the investors.

For this, NectArt has already signed more than 150 partnerships and plans 5 unique collections for the beta release. These collections will be unique in their creations, like a live vernissage or a live construction of the arts. In addition, one of the artists is in partnership with an association that fights for women’s rights and all the commission of NectArt will go to this association.

The process facilitated by NectArt

One thing that may be surprising with the future NectArt platform is the complete absence of cryptocurrency. Here we are talking fiat, the artist integrates thanks to the platform a JPEG document which will then be automatically transformed into NFT by the NectArt software. The client will be able to buy the NFT in fiat, these same fiats will be sent directly to the artist (minus NectArt’s commission of course). The buyer will need to have a light account, like Metamask to receive the NFT for free. Learn all about Metamask here.

Here, therefore, there are no transactions in cryptocurrency, which allows pure art investors not to complicate their lives. However, it is a model that may be misunderstood by NFT investors, followers of cryptocurrency and preferring this system to traditional currency.

Another surprising point is the impossibility of trading directly on NectArt, the buyer can obviously list the NFT on another platform. But here no speculation, it’s a bias, but which breaks directly with current models.

NectArt and NFT
NectArt’s partners (Cointribune is neither a partner nor a sponsor)

NectArt aims to raise funds pre seed after the beta, in order to fully immerse yourself in the metaverse. We do not yet know if a platform has been decided or if several will be selected.

“Our long-term objective is to have each collection opening in the metaverse, and to give the possibility to our important customers to exhibit their works” explains Paul.

Paul also explains to us that the NFTs will be works of art first, but will also have a utility. This one will not be like other financial projects, but more artistic. Invitation to IRL openings, meeting with the artist, etc.

It’s all about community, connecting fans and the artist. Currently, a large part of the artists are French, but Paul and his collaborators have the ambition to quickly expand internationally.

NFT and art

NectArt is one of his projects that sees the future of art as an NFT and the NFT as art. This is not at all the case for everyone.

No one knows the future of NFT, however many companies and investors are now turning to forms of NFT where the image has almost disappeared.

For some, NFTs are financial instruments. They facilitate the sale of digital files by creating scarcity.

But you can also do other things with NFTs. For example, you can split an NFT into fractions and sell it as shares. If the value of the file increases, so will the shares.

Others see NFTs as simple passes, replacing for example VIP passes for these concerts, they can be won easily and securely online.

They are also used to invest in an artist that we like, but having a use in the metaverse, as for Gal Yosef, with the creation of an entirely dedicated metaverse.

The uses of NFTs are endless and every day new project emerges with more innovative use and using other blockchains, other ways of thinking.

However, art remains art and in the digital era, it is quite possible that the NFT will retain its importance in the field of art.

Finally, NFTs remain an extremely important part of the crypto ecosystem, and it is important that many projects diversify their use..

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Alexis Patin

Observer of the social, economic and financial revolution driven by cryptocurrencies, defi and metaverses.

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NFT: Putting art back at the center of the token

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