if 2020 was the year of DeFi (Decentralized Finance), 2021 should be the year of the NFT. If ever there were two entities made for each other, it is the crypto world and the art world. Both are very similar in the sense that art has a long and documented history of disruption and pushing boundaries, traits that very familiar with the blockchain and crypto spheres.
Now, with the advent of NFTs (non-fungible tokens) the art world and the crypto world have found cause to unite. And what a unification! So far, the highest-value NFT sale to date is a piece by crypto-artist Beeple put on auction at Christie’s. It was the first NFT to be sold at the historic auction house and sold for an astonishing $69.3 million. Since then, the NFT craze has gathered momentum to the point where Sotherby’s, the esteemed auction house, is now involved with NFTs.
The rapid evolution of the art and crypto collaboration has been taken further by the likes of Crowd Strength. Recently launched, Crowd Strength offers artists the unique opportunity to collaborate with other artists from all over the world.
How CrowdStrength Works
Its simplicity is CrowdStrength’s beauty. After registering The artwork will then be used, along with artworks from other artists, to create “patchworks” Each artwork will be used one time only and all created artworks will be minted as NFT and dropped from on FouNDation.
Once the artwork is auctioned (all artworks are auctioned), the profits generated from the sale, minus marketplace commissions, are distributed equally 50-50 amongst all the artists who participated in that particular work and CrowdStrength.
The CrowdStrength collection includes just 15 artworks: 5 Uncommon (10 artists), 4 Rare (100 artists), 3 Epic (500 artists), 2 Legendary (1000 artists), 1 Artifact (4400 artists).
With rewards paid to an ETH wallet within just of a sale, the collaborative crypto art scene, spearheaded by the likes of CrowdStrength, offers a viable, expansive, and transparent future for artists and the art world. And in a time of a global pandemic where face-to-face collaboration is almost impossible, the timing could not be better.
Check out https://crowdstrength.io/ for more info. Take note, whilst Crowdstrenth is in early access mode, they only onboarding a small number of selected artists each month. An opportunity you won’t want to miss!
Anthony Young
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