Place/Date: United Kingdom, London - May 11th, 2021 at 10:53 pm UTC · 3 min read
Contact: ZEXPRWIRE, Source: ZEXPRWIRE
ARTDECO is launching an NFT Minting platform where Creators and NFT makers can mint and and also a marketplace where BSC NFT tokens can be sold.
It is a digital asset that represents real-world objects like art, music, in-game items and videos. They can be bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos like Bitcoin.
The NFT boom is in full force as big brands, celebrities, musician’s athletes are minting their own NFTs to capitalize on the latest crypto trend, making millions in the process. While as an art lover you may not be able to afford some of the NFTs they are selling.
ARTDECO is looking to (as highlighted on their whitepaper) to make it easy for anyone to mint their own NFTs that represent ownership in their digital work. On their Web 3.0 Dapp platform that utilizes the Binance Smart Chain.
It is worthy to note that the Elon Musk inspired ARTDECO NFT project will be a marketplace for those assets, as well as a distributed network built on Binance Network that enables NFT creators mint and trade NFTs without a middleman.
The tokens that creators generate on ARTDECO are known as non-fungible tokens (NFTs).
Each NFT is unique, and unlike bitcoin they are not interchangeable. This unique property is known as Non-fungibility, which is why tokens on ARTDECO are called non-fungible.
Central to the platform is ARTDECO, the platform’s cryptocurrency. By owning ARTDECO tokens (ARTDECO Contract Address) users can vote on proposals that affect the platform, moderate creators and curate featured artwork.
ARTDECO is a marketplace aiming to link sellers (typically content creators such as digital artists, model creators or meme makers) with buyers who can select pieces they wish to purchase. To turn their work into an NFT, creators must first “mint” a token using ARTDECO’s Dapps. Similar to other tokens on Binance, the NFT can be transferred between wallets using ARTDECO’s software.
ARTDECO leverages the Binance blockchain to embed within an NFT’s code the full history of its owners and transactions. Of note, when a transaction goes through, both the buyer and the seller have to pay transaction fees that go to the ARTDECO network.
One interesting feature of NFTs is the ability to program royalties, or the rights to future cash flows, within these assets. This means that creators on ARTDECO can set a percentage of future sales and collect them automatically by issuing a token. This is a major feature drawing creators to this technology, because unlike with traditional content platforms, NFTs can be designed to pay out royalties immediately. For instance, if a piece of digital art listed a 10% royalty, the creator would receive 10% of any consequent sale of that art.