Introducing ART DECO: A Community Driven NFT Marketplace For Creators
The Crypto NFT space is in its infancy. Since July 2020 volume on most NFT platforms like OceanSea and Rarible was quite flat as there was little or no adoption.
Fast forward to January 2021, the total transaction volume on Rarible exploded to around roughly $25m. NFT related projects like NFTX hit historical highs as well.
Dapps like OceanSea have reported a huge influx of new NFT creators and artists looking to capitalize on public market crypto appreciation and liquidity.
The NFT space has unlocked a huge amount of capital for artists and creatives.
That being said, global digital art sales is yet to start as we have barely scratched the surface. 😰
The global art market is a marketplace of buyers and sellers trading in the services, articles, and works-of-art and culture commonly associated with the various arts. While the market remains predominantly offline, online sales have seen increasing growth in recent years.
The NFT market is on pace to disrupt digital art, physical art, and the broader collectibles market. Exchanges like OpenSea have had nearly $30 million transaction volume over the past month, with over 500% user growth, and this number is increasing rapidly.
PROBLEM:
Digital creation is the ability to design and/or create new digital artifacts and materials
For many people in crypto, the past year has marked a rapid growth of applications and innovation at a pace the likes of which we have never seen. With the dawn of DeFi applications, the idea of decentralized applications and digital ownership has moved to the forefront of our collective consciousness.
The problem with the current NFT marketplace majorly on the ETH network is two fold — high fees and lack of liquidity. NFTs launched on the Ethereum blockchain are subject to high fees, long wait times and unpredictable network fluctuations. This problem will grow exponentially as artists and creators around the world begin to learn the value of NFTs, and attempt to create them on Ethereum.
Currently there is also a lack of liquidity for NFT projects making price discovery and oracle solutions unpredictable.
The high fees also discourage newer artists and creatives who aren’t able to pay $100 USD in gas fees just to add their artwork to the network. This disincentives a large number of artists from developing countries who do not have the capital required to list on platforms like Rarible.
Most Talented Creators are left out of the NFT rush because of the lack of knowledge and Technical Know how about Crypto NFTs.
SOLUTION:
We are on a mission to Bridge the Gap by educating and sensitizing art creators on the need to adopt this new Rave of the Moment.
We are currently witnessing a historical moment in crypto history. As of Feb 18th, 2021 BSC network usage hit nearly 2X that of Ethereum’s. A large migration of network value is now moving to the BSC ecosystem as well as thousands of users.
We believe a large percentage of NFT creators and buyers will quickly follow suit. Binance Smart Chain provides the necessary infrastructure to build a large scale NFT platform like ARTDECO.
Our 100% community owned platform will allow creators to reap more rewards both in the form of NFT appreciation as well as generous early ARTDECO token rewards via our ARTDECO Foundation.
Future plans for the ARTDECO platform include cross chain swaps for NFTs as well as oracle and price discovery instruments to allow for LP mining with binded NFT tokens. ARTDECO will allow NFT holders to bind NFTs to benefit from liquidity.
In short — more liquidity, more capital for ARTDECO NFT holders, faster ecosystem, lower fees and support of the BSC ecosystem.
ARTDECO VISION
We are working on several partnerships with ART Creators and Influential NFT Artists who are entrenched in the NFT space and who share our vision.
We will also be conducting an airdrop to incentivize early network growth. Please see the bottom of this post for more information.
Our Team 💪
The ARTDECO team brings developers together from different continents Our leadership team is based in the United Kingdom with strong ties to the blockchain industry
Our development team has more than 5 years of combined experience building Web 3.0 frameworks for enterprise clients.
We plan on remaining anonymous as some of the early developers and contributors cannot be public due to employment complications.
ARTDECO Token Explanation
The ARTDECO token functions as a governance token. With this Token, users can participate in the network.
Here are some of the ways ARTDECO token will be used:
governance voting ✅
Receive ARTDECO tokens as part of rewards system ✅
Ambassador and Creator Fund ✅
Airdrop for early BSC NFT holders ✅
Tokens can be staked/Used to Give Liquidity to receive part of the 2.5% network fee ✅
Held tokens can be used to offset fees for listing/buying NFTs ✅
Staking mechanisms for API usage of ARTDECO data ✅
Additionally ARTDECO will be implementing a burn/Lock mechanism for our tokens to increase trust and transparency across our ecosystem. More info to follow in a later blog update.
ARTDECO Foundation 🎨
Our platform is built around a community principle with creators and early investors being the backbone of our platform. We have 3% allocation for contributors to the platform with early NFT contributors receiving a larger percentage of that fund.
Warning ⚠️
The ARTDECO project is in beta and should not be considered an investment under any circumstances. This is an experiment in the NFT space. We hold no liability or responsibility for funds lost. Please only interact with the platform and protocol if you fully understand the risks involved.
Conclusion
The goal of ARTDECO is to become the leading NFT minting Dapp and marketplace on the BSC ecosystem. We believe by aligning incentive of the community, creators and token holders we can grow a healthy and vibrant marketplace for NFTs to challenge the traditional dominance of art marketplaces.
Contract Address: 0x6515A41578BB7Ad5486b96384E4148E7844F3D70
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