These NFT platforms dream of being a digital art gallery

After hitting highs in 2021, the NFT market is starting to show signs of weakness. Nothing to worry about platforms specializing in the sale of non-fungible tokens…

When it comes to NFTs, there’s something for everyone. “collectibles”, these digital tokens based on a generative model such as the famous (and highly coveted) Bored Ape Yacht Club and CryptoPunks; and “crypto-art”, these digital works authenticated as unique objects thanks to blockchain technology.

This second category is not the easiest to find on specialized sales platforms such as OpenSea, Rarible or even Nifty Gateway. Collectors must be patient to find a digital work by a reputable artist among all the NFTs on sale. A problem that the start-up Verse hopes to remedy.

The latter relies on artists, curators and art specialists to offer museum-quality non-fungible tokens to crypto-art collectors. “We want to provide security for our users. All artwork listed on Verse is by credible and established artists,” the Verse website reads.

A first crypto-art exhibition, entitled “This is Tomorrow”, will be organized from June 16. It was assembled by 12 artists and 12 curators including Simon Denny, Tyler Hobbs, Noah Davis and Elena Soboleva, according to The Art Newspaper. For Jaime Gourlay, general manager of Verse, this initiative allows potential buyers to take the plunge with confidence. “A big part of the current problem is that anonymous people with no reputation to lose can get away with doing anything in the NFT market,” he told the trade publication. “What we want to do is create a platform where these curators can have something almost like an Amazon store. Collectors can buy NFTs there directly from people with good reputations in the art world. “.

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Curate to better convince

Verse isn’t the only initiative wanting to help collectors make the leap into crypto-art. Gallery owner Vito Schnabel has given himself the same mission with Art Official. This platform seeks to “broaden the experience of digital art and make the mechanisms of its acquisition more accessible and transparent for the general public”. It works like an art gallery: collectors can discover a selection of NFTs chosen by Vito Schnabel. There are notably creations by Francesco Clemente, Gus Van Sant and Jordan Kerwick.

The Pace gallery has also launched its own platform specializing in the sale of NFT. Her name ? Pace Verso. Crypto-collectors can try to acquire digital creations by John Gerrard, Zhang Huan, Lucas Samaras and even the NFTs attached to the sculptures that Jeff Koons will soon send to the Moon. So many projects that attest to the enthusiasm of artists for this technology, which has turned the art world upside down for more than a year.

But is it the same on the buyer side? Difficult to answer as the NFT market is fluctuating. Interest in these blockchain-enrolled digital property certificates waned in the first quarter of 2022, according to a report by monitoring platform Chainalysis. Spending volume fell from $3.9 billion to $964 million between February and March 2022. This volatility, however, does not worry NFT market participants. The proof: the SuperRare platform opened an ephemeral gallery in New York on May 19 to convince the last recalcitrants of the potential of non-fungible tokens.

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These NFT platforms dream of being a digital art gallery


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