Few days ago I discovered through a post, that we have a new project on the Hive Blockchain, a place similar to MakersPlace, SuperRare, Known Origin and OpenSea, all of them running on the Ethereum Blockchain.
This new kid on the block is https://nftshowroom.com and its running on the Hive Blockchain using the Hive-Engine tokens.
NFTs have been around for some time but mostly hosted on Ethereum and very few on blockchains with less traction. One of the challenges artists have, is how their art is brought to the masses in a more cheap and fast way using the technology, crypto is still in its infancy but fortunatelly growing steadily year after year.
Art minted as NFT is a good way to allow artists to sell their work in a decentralized way, and not going through high fees such as 50% comission usually going to the art houses.
In the case of Ethereum they have been using the ERC-721 Protocol, designed specifically to give ownership to buyers with unique pieces of art, and later to be sold, expecting an increase of their value on the market.
Yes we all have dreamed that one day all art can be sold in an agnostic way, I mean that can be minted on Ehtereum, but bought on Hive paying in Hive and viceversa. That will happen for sure in a couple of years.
And now since Hive is going after other areas not only being a nice plaftorm for blogging, but adding new features such as online games, finantial services and now this new concept of NFT Art among others, are going to offer new options and of course compete against other projects for better, fast and cheap services.
NFT Art Platforms and their fees for Artists
SuperRare
There is a 3% transaction fee for all purchases, paid by the buyer.
Artists Comission
For primary sales, there is a 15% commission (creators receive 85%). For secondary sales, creators receive a 10% commission (aka royalty), providing passive revenue from an artwork if it continues to trade on the secondary market.
Known Origin
Commission of 15% of the total value of that transaction and 3% for all proceeding secondary sales on the KnownOrigin marketplace
OPenSea
2.5% comission from the price of a successful sale. The original creator of the item (such as the developer of the game) can opt to take a fee on the final transaction as well.
There's no fee to list items or buy items. But when you list an item, if OpenSea takes 2.5% and the creator takes 4%, the total fee will be 6.5% of the final sale price.
NFTShowroom
Transaction Fees on NFTShowroom for Artists are 10% and 5 SWAP.HIVE for the first edition plus 1 SWAP.HIVE for any consecutive edition and later once added the secondary market, sales on NFT Showroom will collects a 10% commission and will give half of that as a royalty to the original artist.
Comission it's ok, but I would like to see a 5% comission down the road, once they have setup all their infrastructure.
This project will attract more people to Hive, and that is something to be appreciated.
NFTShowroom has stated that they are still under develompent, so you might see some bugs here and there, but the site is up and running.
Here is the Discord Channel https://discord.gg/PuEeYuK
I already stated offering Art on this platform, here my first entry https://nftshowroom.com/nachofigx/on-market/nachofigx_finite-shapes_hitron
If you are an artist willing to sell your art, you first need to be whitelisted and then you are ready to share your love!
File size have a max of 10 MB and thumbnails 1 MB, at the moment only images and GIFS are allowed, later they will introduce a way to upload videos in the MP4 format.
I wish the best to the people involved in this wonderful project which will let many people access and own art in an easy and fast way.
Great post, I love that you even included the various fees for each, so happy to have you aboard I can't wait to see more of your art!
Awesome news for Hive.
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I don't know how these things work, so perhaps this is a silly question.. but what's stopping someone copying an artwork and selling the copy?
Well, that is a good question.
First, the image that appears on the website (NFTShowroom) it's a low resolution at most 600 x 800 pixels, all the original art is hight resolution (1K, 2K, 4K and up) basically for printing purposes.
If someone buys an original art, they will get the high resolution version, they can sell it of course (Since they have the big file) but since the art has been registered on the blockchain, a date and author has been stamped on. If they want to sell it later as their own, it must be in a different market, for example on Makersplace, if they claim to be the author, Makersplace checks all over the internet to verify that the art has not being published previously. If they find that the art has been created by other author, they simply ban the person from the platform.
One of the advantages of using NFTs is that anyone can buy art and re-sale it later on the market. So there is no point of copying and trying to re-sell as their own. It can happen, yes. But buyers can make a quick search on the internet to verify, also it is good to know what the author has been creating previously.
So know your artist first!
I love the piece you submitted. Right up my math loving alley.
Thanks Ruben, glad you like it.
I also just discovered that via someone selling dragon heads. That is such a cool platform and feature. I just wonder how to really give value to these NFTs. For example, how can a painter incorporate that? I have a friend who does amazing paintings but has problems selling them. He stacks most of his paintings in his house and only occasionally gets a gallery to showcase a few of them. Would people who buy his NFTs then own the original as well and would he have to ship them? I guess it is up to each seller how to handle that. Any suggestions?
Well NFTs are digital only, so no phyisical art is covered at the moment in NFTShowroom, unless in the future they can place a chip on every art (On the frame).
But that would be nice to help those artists that still use oil paint to distribute their arts.