Posted on Leave a comment

Globally, the United States lead in total annual art sales, with global auction sales reaching 5.55 billion U.S. dollars in the first half of 2019 and Europe at second place. More than likely, this upward momentum will increase over time as more auction houses, and art galleries embrace digital assets or NFTs.

As NFTs gain popularity, we will see more people investing in digital artworks with a built-in artist’s provenance, and some cases, the NFT has a built-in creator’s royalty fee. During the creation of the NFT, this royalty fee was added by its creator, which will be automatically distributed to the original creator of the NFT upon the sale of a particular NFT. This royalty fee is a fixed percentage, which remains static over time. It’s a great way to continuously reward the NFT creator and/or artist, while the incentivizing creation of more NFTs for the marketplace to buy and/or invest.

Within this trustless and permission-less art blockchain ecosystem, counterparty risks are greatly reduced, and so, the value of said NFT will likely increase over time. Pus, this NFT artwork has a built-in historical sale, which make it easy for anyone to verify its authenticity and sales history. This feature will be integrated into our marketplace to help eliminate any concerns that potential buyer may have if they decide to buy NFTs.

At Exhibition.gallery (EG), we aim to foster those creations for all artists, while connecting artists with art lovers, art collectors, and art investors. Moreover, we will help turn your artworks and/or illiquid assets into a sustainable revenue source by leveraging the Ethereum blockchain.

The world has dramatically changed. It is no longer business as usual, and so, we must also adapt and embrace the new normal. With this new normal, new behaviors must be introduced to prevent damages to our health and the well-being of others. A digital artworks marketplace such as Exhibition.gallery embraces the new normal, while encouraging the creation of new artworks.

Going forward, a new breed of art collectors and/or investors will likely buy and/or sell art collectibles from the comfort of their smart phones or computers. Those transactions will take place on the Ethereum protocol. To achieve this, we will create a platform that turns illiquid artwork assets into NFT (non-fungible token). Those NFTs will soon be uploaded to our marketplace for all to see and buy via their smartphones or computers.

Leave a Reply