July 23, 2019 at 11:51 am #13999TenbloParticipant
‘Connecting Blockchain To The Art World’ by my friend Zenith Thomas.
Looking into the future of art and the new wave of digital creative content, it would seem that a new revolution of decentralised art is on the horizon.
Blockchain technology is beginning to turn heads in just about every industry you could think of, including creative industries. This technology breakthrough can allow a much more honest system in the way we look at contracts and management, virtual assets, data distribution and much more.
In the creative industry we are used to seeing the glitz and the glamour that has paid it’s way to be at the forefront of our social media, radio, TV, and internet streams.
Music, dance, poetry, photography, visual arts, film and other artistic mediums all face a problem –
All of these industries rely on central points of governance.
This is bad why?
Centralised authorities require our trust to operate in the way the law says they should. Obviously, humans are flawed and sometimes cannot be trusted! Take the world of bank finance, where fraud, manipulation, corruption, and greed all contribute to dishonest business practices. And all this behind closed doors, where the users are unable to see what is truly happening.
Blockchain networks are decentralised, and are maintained by the users of the network as a collective, and no centralised authority. Usually this means that the system is open, honest, transparent, and immutable, as opposed to opaque, trust-based, and controlled by the greedy few.
Decentralizing the art world using blockchain means artists and customers can connect and make transactions without the requirement of a middleman (such as payment providers or an art dealer). Smart contracts are created on the blockchain to prove authenticity and information is shared to everyone on the network, reaching consensus within the system and allowing peer-to-peer transactions.
This brings me to the TrooArt platform…
So here we have, for the first time in history, a chance for artists to self-manage inside an interactive marketplace and forum, powered by blockchain technology.
Imagine being able to create a piece of creative content in any medium, then indelibly record that on a publicly accessible platform that will exist online and possibly forever. This gives longevity, recognition and authenticity in ways never seen before.
HOW DOES BLOCKCHAIN GIVE AUTHENTICITY TO ARTWORKS?
1. Information about the tokens is stored on the blockchain, which cannot be changed
2. Unique encrypted signatures allow artists to unmistakeably prove their authorship of a work and identify counterfeits/fakes
3. Open and transparent systems that allows one to view all the transactions broadcast to the blockchain network (Enjin’s blockchain explorer EnjinX allows users to view and track digital art assets as they are created and transferred)
4. Creating art assets using Enjincoin backs each artwork with an amount of cryptocurrency which can be retrieved through “melting” the asset, giving each work an intrinsic value which is lasting and rising.
Any artist who has tried to copyright and authenticate their artworks knows that depending on the medium can be quite costly or hard to access (again, another example of central point of control. Only if you know the right people or have ample money can you authenticate your artwork).
TrooArt wants to give opportunity to the individual, giving creative content ownership and a chance to manage their own art portfolios with pathways to generating their own royalties without a middle man.
Looking further into the future we here at TrooArt are hopeful that we are making steps for a positive change to break through an old way of thinking, and help give back independence within creative communities.
By Zenith Thomas
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