Art.army: Creating a Network of Creative Artists
It’s no brainer that blockchain technology has transformed a myriad of sectors, including the expansive art sector. Despite being quite lucrative, the art industry has had its fair share of challenges, notable opaqueness in pricing, lack of regulation, non-standardization, and the problem of fakes.
Art.army is an NFTs art marketplace built on the Binance Smart Chain. The platform creates an innovative, transparent, and environment-friendly means of trading and enjoying art using blockchain technology.
The project brings together key players in the art sector, including artists, gallery owners, investors, and art enthusiasts, to experience art in the new Digital Economy. Here are key pointers to the project.
Art.army is an innovative project that looks to revolutionize the art sector by integrating blockchain technology. The platform encompasses a broad community of users linked to the world of art and digital culture. Art.army creates a new and unique art shopping experience where the community of users can buy, sell, exchange or auction NFTs with an artistic forecast.
Besides functioning as an NFT marketplace, Art.army also offers a framework that facilitates the promotion of particular art events giving a unique opportunity for artists, even those who are yet to venture into crypto-art, to protect their work. The project takes a collaborative approach in the art sector to resolve some of the challenges facing the digital art industry thoughtfully and inclusively.
Art.army creates a meeting platform for art curators and experts, including authors, art investors, artists, and creators from multiple disciplines, allowing them to share ideas, trade NFTs and overly benefit mutually.
On the Art.army marketplace, artists and creators can create their digital artworks through a completely secure and transparent minting process backed by blockchain technology. The platform essentially enables artists to thrive in their fields by providing security, trust, and an overly efficient environment.
Art.army is built on the Binance Smart Chain (BNC) created by Binance. The Art.army team opted for Binance rather than Ethereum, which hosts almost all NFT marketplace considering non-fungible tokens(NFTs) were first developed by its ERC721 token. BNC confers plenty of benefits to the platform, including low transactions.
The congestion on NFT marketplaces on Ethereum and other platforms, including Dapps, has seen it had a myriad of challenges, including unnecessary transaction costs, intense volatility, and scalability issues due to congestion. BSC offers Art.army an operational and competitive edge over other NFT marketplaces built on different blockchain networks.
What’s more, the platform’s smart contracts are created using the ERC 721 token standard, allowing it some flexibility in the future, including the possibility of shifting to another blockchain network if need be.
How does Art.army work? Well, it functions by allowing selected artists to mine NFTs tokens on the platform via a simple dialogue box. The tokenizable items can be either audio, video, or image made available in the different formats supported by the platform. Artists are then required to pay Binance Smart Chain mining fees to complete the NFTs token mining.
Once an NFT is mined, artists can put it up for auction on the platform setting a price (quoted in BNB token) they deem suitable. NFTS mined in BSC can also be auctioned on the platform. Art.army offers artists an opportunity to choose how they want their NFT creation to be displayed either in 3D or 2D presentations. The platform also allows artists and collectors to re-sale art pieces later and earn value from their components.
In trading the mined NFTs, the platform employs a unique bidding system where users can bid over the last maximum bid by paying a BSC bidding fee. The last bid is usually the winner. The proceeds from the winning bid is distributed as:
- 90% -To the artist(s) behind the artwork
- 4%- Sent to the creator of the NFT
- 3%- Distributed to ART Holders
The platform is open to any artists looking to earn from their works.
The Art.army team comprises a technical and human team from different fields, including blockchain development, computer engineering, audiovisual communication, production, and art direction. The team is well known, having vast experience with more than 20 years of experience, mainly in the communication and brand strategy field.
Carlos Yanes- the CEO, leads the Art.army team, with other heads involved including Alex García — Creative Director, Lorenzo San- Communication Manager, Pepa Catalá-Creative Content, and Lars Neubert-Head of PR & Artist Liaison. The team’s goal is to maximize the potential and development of the digital economy by creating value in artistic creations rather than just accumulating valuable content.
Key Features of the Art.army NFT Marketplace
As mentioned earlier, the Art.army marketplace facilitates the auctioning, exchanging, buying, and selling of art pieces in the form of NFT tokens mined on the platform. The marketplace takes an open approach employing an inclusion model where both experts and developing artists are offered similar opportunities with a possibility of discovering and mentoring new talents. Below are key features of the platform.
- NFT Mining/ Minting- On the marketplace, selected artists can create NFTs via mining or minting. Once mined, artists set the selling price of their artistic creation with the market determining the final buying price of each art piece.
- Artwork Selection- The marketplace consists of art professionals who help in the selection of outstanding artworks.
- Multilingual Support- The marketplace integrates several languages, including English and Spanish, supporting a global audience.
- Personalized Spaces- Art.army users are offered their personalized space to develop their gallery of favorite works and artists.
- Interoperability- The Art.army marketplace is technically integrated with other platforms within the Binance Smart Chain ecosystem, ensuring maximum compatibility with other technologies.
- Unique Means of Consuming Digital Content- The Art.army marketplace creates a different means of consuming digital content via unique experiences, 3D tours, and special releases for artists looking to enhance their projection and promotion of artistic projects in art channels and the public. The marketplace essentially creates value prepositions in artistic creations to benefit artists, creators, and professionals greatly.
The Art Token
Art.army is powered by the ART Token, which serves different use cases in the Art.army ecosystem, including:
- Governance- ART token holders are offered a green light to participate in decision-making within the Art.army project via a community co-governance system.
- Value- ART tokens can be used in investments to attract value plus be exchanged with other cryptocurrencies on supported crypto exchanges. Besides, ART token holders receive a percentage of the transaction value of artistic work sold via the Art.army marketplace.
- Staking- The platform looks to implement staking where users can hold Art tokens on the platform for a particular period and earn passive income in the form of staking returns.
Tokenomics and Supply
Name: ART Token
Ticker Symbol: ART
Total Supply: 100,000 ARTs
Burned: 58,000 ARTs
Circulating Supply: 42,000 ARTs
Art.army has a total supply of 100 000 ART tokens and has ruled out the possibility of mining new tokens with the smart contract. So far, the platform has burned 58,000 ART reducing the total circulating supply to 42 000 ARTs. The token distribution is as below:
- 60%- Burned periodically to enhance the value of the token
- 32%-Traded among the community of artists, art traders, and collectors.
- 8%- Transferred to a team wallet for use in the maintenance and work of Art Army
Art.army creates an innovative, fairer, and environment-friendly means of experiencing art in a new dimension using blockchain technology. The platform integrates a marketplace that gives equal opportunities to the extensive artist community encompassing gallery owners, artists, enthusiasts, and investors, allowing them to mutually benefit from the artistic creations. The platform is yet to launch its marketplace, but it’s working hard to finish the developments before 2022. Once fully established, Art.army marketplace will surely provide value to artistic works ensuring artists benefit fully from their creative works.
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