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NFT Showroom

NFT Showroom is a digital art marketplace built on , a fast and free that makes creating and collecting rare digital art simple and accessible. [1]

Overview

NFT Showroom is a digital art marketplace (active since 2020) based on Hive, a swift and free  that makes creating and collecting rare digital art simple. They claim to be simple to use and an inexpensive option for artists and enthusiasts. They are open to everyone and welcome all art forms and levels of expertise. [2]

The platform is modeled after other  (ETH)-based tokenized art ventures such as , MakersPlace, and others. Since Hive offers free transfers and 3 second block periods, many artists have demanded those facilities. As a result, it's a ideal for launching a new platform that allows artists and collectors to extend their purchasing and selling choices. Hive also has a built-in blogging site (peakd.com), which allows artists to write workflow posts or share the tale behind their work, which is a strong mix. NFT Showroom generates provably rare, collectible, tokenized assets using Hive-layer Engine's 2 NFT platform. [3]

They began by putting the site's UI and accessibility to the test with a small group of checked musicians. Admissions were extended to the general public after it was confirmed that it was running properly. The alpha release included features that allowed artists to build and sell  (NFT). With each piece, artists can choose the amount of scarcity they want (ie. One edition only, or multiple editions).

To start making and collecting, all you need is a Hive account and Hive Keychain. The network uses a pegged token called SWAP.HIVE to tokenize and buy art. Creators have two choices for creating tokens on the platform: Private and Exclusive Reproduction Rights.

Because the startup costs are smaller, a broader range of talent is available. This is the place to go if you're hunting for up-and-coming, newbie musicians with a promising future ahead of them. This is obviously not the right forum for you if you're looking for a well-known developer who is still making money elsewhere and has a large following.

Low costs mean there's more space for expansion if an artist succeeds. That also guarantees you'll get more art that doesn't depreciate in value over time (from an investor perspective).

Unlike the regular revolving top 20 on the major pages, you can even buy one-of-a-kind works by artists you've never heard of before.

When you sell your work for the first time, NFT Showroom will charge you a 10% fee, while secondary purchases will be charged a 5% commission with 5% going to the original maker. [4]

NFT Showroom is much smaller than , Nifty Gateway, SuperRare, and other similar marketplaces. On its website (13/05/2021), NFT Showroom announced that it had sold 7768 NFTs from 1153 different artists for a total of 362,255 HIVE (then corresponding to more than USD 300,138)

SWAP.HIVE

The HIVE cryptocurrency is used as a means of trade on the Hive . To perform all of the smart contract, Hive-Engine uses an HIVE-backed token called "SWAP.HIVE." Users must convert Hive to SWAP.HIVE in order to communicate with NFT Showroom. You can do this on nftshowroom.com by going to your wallet and pressing the deposit button, then inserting the requested number. Simply use keychain to sign the deal, and your Hive will be deposited as SWAP.HIVE.

When transitioning between HIVE and SWAP.HIVE, there is a 1% charge. [5]

NFT Marketplace

A platform for NFTs is known as an NFT Marketplace. The term "NFT" is an acronym for  (NFT). Anything that is fungible may be replaced. One kilo of 24 karat gold, for example, would theoretically be replaced by every other kilo of 24 karat gold. When something is non-fungible, it means it is one-of-a-kind and cannot be replaced with another object.[6]

Attaching art to a token (NFT) has many advantages, the most significant of which is that it provides a provenance record. Since it is cryptographically signed by the artist, a token may be likened to a certificate of authenticity. Ownership and trading history can be documented on a publicly verifiable ledger from the moment it is created ().[7]  This aids in the prevention of plagiarism which can be used to validate image copyright. Tokenization also makes it possible to exchange art in an open and safe manner. Secondary market royalties enable the original artist to be compensated for future purchases, which is a significant advancement in the art world. [8]

Although NFTs and cryptocurrencies are conceptually identical, these digital objects could reflect antiques and artworks, collectibles such as trading cards, and other products with specific characteristics. [9] For authentication and confirmation, these tokens are placed cryptographically in a  network. Unlike (BTC), which are divisible into smaller units, each token is sold as a whole except while transacting. When NFTs are divided into smaller pieces, their worth decreases; however, the artist may repeat them and sell each additional copy separately (but the total number of duplicates will then always be known). [10]

Creating and Collecting Art on NFT Showroom

A Hive account and Hive Keychain are required to begin generating and gathering data. Hive Keychain is a plugin extension that encrypts the keys and helps you to enable transactions on the platform safely and conveniently. [11]

Here's where you can sign up for a free account: Hiveonboard.com is a website that provides information about hives.

Install the Hive Keychain browser extension by going to this link: Chrome/Violet Firefox is a web browser developed by Mozilla. Hive offers quick checkout times and no gas costs! It helps to have a minimum of 5 HIVE staked to your account in order to transact smoothly. Giftgiver, for example, would provide you with a small delegation for a week to assist you with getting started. [12]

Creators & Artists

Artists are the lifeblood of NFT Showroom, and NFT showroom welcomes artists of all mediums and levels of experience. Hive also offers a number of common features that can be used for the new account, including the ability to create a personal blog and join artists who are assembling and sharing their work in a variety of lively art communities. There is a vacancy for passionate artists to join the team, and the platform will double-check each application.[13]

During the alpha, only verified artists were able to tokenize. The platform will be available in the future until a validated badge scheme is in operation. Wait times are currently about 1-2 days, although they can vary depending on the number of pending applicants. NFT Showroom is ecstatic to be expanding at such a rapid pace. [14]

To apply as an artist, log in to nftshowroom.com, click your name in the upper right menu > then click profile. [15]

The submission procedure is straightforward:

  • Go to your profile page on your personal page.
  • Fill out the questionnaire and tell the team as much as you can about yourself and your art.

For authentication, an administrator can contact the applicant via one of the social media links provided. The current processing time is 1 to 2 days, although this can vary based on the amount of applications received. Please pay attention to your posts on all social media sites.

As the token's maker, the artist has digital control over the work he has made. When making a token, the platform provides two options: Private and Exclusive Reproduction Rights:

The author holds complete rights to the work as it is sold privately. The art may be shown in the buyer's collection or resold on the secondary market. [16]

The artist is selling the full commercial rights to the art's reproducibility under Exclusive Reproduction Rights. This means that the painting can be used for commercial purposes, such as printing, t-shirt designs, website/blog graphics, and so on. This does not imply that the customer may sell their own secondary licenses for the piece or retokenize it. [17]

Accepted File Formats and Specs

Currently supported formats: JPEG, PNG, GIF, and MP4

JPEG, PNG, GIF: Max 30 MB

MP4: Max 100 MB

All images uploaded to NFT Showroom are stored on IPFS (InterPlanetary File System) and also backed up on an image server with gifting a possibility as NFT can be sent to anyone with a HIVE account. [18]

Tokenizing

Artists will ensure the scarcity of their art for customers by producing an NFT with a set number of versions. If art has been tokenized, it is important that you should not tokenize the same development again, as this would have a negative impact on the artwork's popularity and the artist's integrity.[19]

If an artist is found plagiarizing or fraudulently issuing several tokens of the same creation, the team reserves the right to deny entry to the NFT Showroom.

Unique and Multiple Editions

Editions are similar to prints or versions of the same piece of art. Since you can't make any later, it's important that you settle on the number of editions when you're minting the item. This will be tantamount to violating the first token's bond.

When it comes to tokenizing art, rarity is crucial. When making a decision, buyers will take this into account, as it will be a factor in deciding worth. When you tokenize a work of art, you're permanently limiting the number of editions, so it is needful for the editor to pick carefully.

This is true for other outlets, as well as other chains. If you mint art, you can never mint the same piece of art somewhere else.

Single or several editions are possible in NFT Showroom. A single version costs 5 swap.hive to mint. Every extra version will be a swap.hive.

Many buyers choose limited runs or single editions, but this is debatable, and how artwork is tokenized is depending on the artist's preference. [20]

Finalizing Your Token

After completing all of the fields, check the boxes committing to the TOS and press ISSUE TOKEN. Sign the transaction, and a popup will appear, prompting the user to go to the collection, where the token will be handled and sold.

It's a good idea to double-check anything because the details on the token can't be updated until it's been released. If an error is made, the artist would be required to burn the token and reissue it, which is non-refundable. [21]

Managing Your Art

The work will be added to your collection after tokenization, but it will not be for sale. To do so, go to the art, then > handle under the art.

This adds the artwork to the user's cart, where it can be handled. Burn, sell, and move are the possible alternatives.
Burn can do just as it says and burn the token; this can be useful if the token knowledge is incorrect and you want to mint it again. We suggest that you double-check the information on the tokenize page to ensure that you don't have to do this.It's important to remember that if you tokenize after burning, you won't be able to use the same title.

Sell: You can set a selling price with this option. You can do this as a batch if you have several editions and want to make them all the same amount. If you want to make different rates, put them all in the cart and list them one by one.

Transfer: you may now pass or donate the artwork to another account. Simply type in the username and memo you want to send.

Rights

When the NFT showroom was launched in 2020, there were only two options available on the tokenize form: private and limited reproduction license*.* In an update in September 2022, the team added the CC0—No Rights Reserved option.[22]

  1. Private - It means the creator retains full copyrights to the image. The buyer can display the art as part of their collection or resell it on the secondary market.
  2. Limited Reproduction License - It means the creator is selling a licence to reproduce your work for commercial purposes. It can additionally incorporate rights to use it on a commercial website, printed merchandise, etc.
  3. CC0 - No Rights Reserved (aka CC Zero) :It is a public dedication tool, which permits creators to give up their copyright and display their works in the public domain. CC0 enables re-users to recreate, distribute, remix, adapt, and build upon the material in any medium or format, with no conditions.[23]

Art Creators on the Platform

If a user wants to give this network a shot, here are some of our favorite choices. Since the NFT Showroom lacks bio pages, the most that can be achieved is to post the best finds based solely on ability and collections. It's also worth noting that this isn't in any specific order.

feoluwart

Only three items from her so far, but we can't wait to see more. These black-and-white photographs are stunning. I do wish that more of the work on this marketplace had more description. Is this a screenshot that has been altered? Is it a fully interactive design? We'll never find out (unless feoluwart chimes in).

despero-narciso

This is one of the marketplace's most reliably talented musicians, as well as one of the most successful. When viewing this gallery, make sure to choose "all made art" (most of the pieces have already sold, so you'll need to include previous works).

ignash

It's unusual to see inanimate objects come to life in such a quirky, endearing manner but ignash has done this beauty severally with art.

anafae

This artist posts delightful, colorful illustrations that are testament to the affordability of this platform. “In The Back-Room” (which we love for its whimsy) sold for 55 hive, which is about $20 as of the time of writing.

glogurl

This artist is really aware of who she is and what she is producing. This sounds more like a single, unified collection she produced than a detailed gallery of all her art. Each of these visual portraits is rich in African scenery and earthy hues.

nemosun

These animations, which were originally created with sharpies on cardboard, are incredibly rewarding to watch. The images below are insufficient to do them justice.

thisnewgirl

Going through her work, it is seen that this artist is still developing her own style. From comic book characters and art and more conventional multimedia artwork, she has a little bit of everything. It's well worth a look if you're looking for an artist with the ability to become a truly great producer.

Featured Artworks

The platform hosts more than a thousand artists, who have brought to table many high-quality works of art on display on the platform, some of which are outlined below;

Self-Portrait (BruceTheGoose)

The only known self-portrait of crypto artist BruceTheGoose. Owners of any of the 5 editions (2 issued on ETH, 1 each on HIVE, WAX, ZIL) will receive random airdrops of Feathers [$FTHR] to their  compatible wallet.

Crypto Al Capone

Criminals who might have been interested in investing their money in crypto

Jick Rames #1/1

He's super feline freak! Limited and exclusive 1/1 - Jick James Collect All 6 1. Jick Rames 2. Sargent Sage 3. Whisk Lavishe 4. Liger 5. Auxana Luv 6. Figaro Spirit Cats - Series 1 www.TravNasty.com

Collection: Spirit Cats

Creator: @travnastyart

Total Edition (s): 1

Aje-Olokun.

Aje the daughter of Olokun is the goddess of wealth and prosperity. She blesses in any kind of currency and turn the house of whoever she enters into a wealthy one. She is associated with cowries which is found in her eyes and the symbol of wealth and of course some which is found on her forehead.

Collection: Ankara scribble art.

Creator: @glogurl

Total Edition (s): 1

Icon of the Inquisition

The artist had the idea for the artwork for two years, but he just got the opportunity to start working on it four months ago. This painting is a continuation of "Prince," which was his first attempt with such aesthetics. A face devoid of expression, with hollow eyes that represent only light but are dark and cold. In a pitch-black bed, my body resembles the golden frame of a mirror. Halo was forged out of grief. I'm seated on a chair made of secrets.

Collection: Demise

Creator: @svdsdragunov

AKPAN INUEN

He was born on the planet Earth, but now he lives in space. He had forgotten all knowledge of a location he had once considered home. He now claims to have had an epiphany, which he described as a trip to Saturn. The journey allegedly transformed his body into "something new" and caused him to see right through himself. He's the man of the future. He's a black guy.

Collection: AFROFUTURISM

Creator: @yanga

Total Edition (s): 5

Fees

When a user buys an NFT anywhere, the related NFT Marketplace will usually charge a fee for facilitating the transaction. The customer usually pays this fee, which is usually a percentage of the NFT's selling price. When an auction is completed, regular art galleries usually take a percentage of the sale of all artwork or other items hanging in the exhibition.

In the initial selling at NFT Showroom, a user would be required to pay a commission of 10%. The commission remains the same on all secondary purchases, but the marketplace just keeps 5.00 percent of the 10.00 percent paid in a secondary transaction, with the remaining 5.00 percent going to the original artist as royalty.

Although a 10% commission does not seem to be a bargain, it may be helpful to equate it to typical gallery rates. Typical exhibition fees in a physical art gallery range from 30 to 50 percent.

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NFT Showroom

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