When fax machines and typewriters were the norm, you had to use scissors to divide a work of art. Today, tokens and blockchain are replacing superglue and scissors, with clear efficiency advantages. Direct Peer-to-Peer Trading, Dismantling Sales, Naming: NFTs democratize access to new forms of investment, link fans with artists, and are game-changers in the art and music market for all players. Also for Cro: The rapper, who became famous with hits like “Easy”, has traded Mic for brushes and now brings his oil painting “Michelle” (see image) to the blockchain under his artist alias Carlito via of the Timeless platform. The auction starts today, March 31.
Nothing is impossible: what the portfolio of pop culture artifacts produces reaches the blockchain through the Timeless platform. A red Michael Jackson leather jacket, the first X-Men comic, Pokemon trading cards, a few drops of wine, and now, in the middle, a painting of Cro. Blockchain technology is becoming a fire accelerator for decentralized trade in collectibles. It opens up new forms of collective investment, replaces classic distribution structures, and creates new forms of interaction between artist and audience.
With far-reaching implications for the entire market, as Cro tells BTC-ECHO: “NFTs across the board are creating new ways to challenge outdated structures and create opportunities that many would not have thought possible just a few years ago.” The possibility of dividing works and representing the individual parts through the blockchain. No bureaucratic superstructure, no labels or distributors, and not much capital. The minimum amount for a Michelle piece is 50 euros.
Anti-aging for the music industry
The music market has “changed incredibly in the last 10 years,” continues Cro. “However, many structures in the music or art market are very old-fashioned and conventional because that is how they are learned.” NFTs serve as a new cellular cure for aging structures, giving artists greater personal responsibility, and thus promoting a new understanding of the artist-fan relationship. “The synergy of being a fan and being involved, that is, being involved in the success, makes sense to me, also to grow together with my audience,” says Cro.
The sum of all the parts
According to Cro, there are “incredible advantages” in the property area in particular: “I can use NFT and the associated smart contract to make my fans share my art very easily and thus allow them to share in the success.” . NFTs turn fans from mere consumers into investors, allowing “an entirely new interaction between artist and audience.”
A win-win situation, as Cro says: “I can easily turn my fans into shareholders of my art through NFT and the associated smart contract and thus allow them to share in the success.” An interaction that is increasingly important for artists in the age of social networks. “Artists need fans, a market, or an audience,” says Cro. “With NFTs, these areas can be thought of differently and a balance between creators and consumers can also be created.” If one is “monetarily invested in the artist or individual works”, this results in a closer bond between fan and artist.
the stone is rolling
“We are still in the early stages and we have a very big gap in understanding because a lot of NFTs are just digital images, which are expensive and have no real purpose,” admits Cro. But he is “confident that the topic will come more and more into society and that the almost endless possibilities offered by the NFT space will become more and more popular through meaningful use cases.”
“Collectibles belong in the portfolio of the 21st century”
Jan Karnath, who places the impact of blockchain in particular in the area of collectibles, is also convinced of this. According to the CEO of Timeless, collectibles represent an investment trend that involves new buyers -for whom investing in sneakers offers more identification than investing in stocks- and, therefore, is increasingly relevant to society. “In the medium term, collectibles will establish themselves as the third relevant asset class alongside cryptocurrencies and stocks,” Karnath predicts to BTC-ECHO.
This proves to be true, if only with an eye to value development of collectibles. For example, with rare wines, “whose prices have increased by 127 percent in the last ten years.” With low-threshold barriers to entry and decentralized tradability, blockchain technology becomes a “catalyst for democratization.” The CEO of Timeless is equally enthusiastic: “Collectibles belong in the 21st century portfolio.”
The MICHELLE Stock Sale begins today, March 31. The total value of the work of art is 55,555 euros. Fractional parts are assigned as utility tokens on the blockchain. The work will also be exhibited at the Janine Bean Gallery in Berlin from May 5-9 as part of Timeless Pop-Up.
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