The advent of the Covid-19 pandemic has forced many sectors of the economy to close in 2020. The art world is also suffering, with many galleries forced to close. As a result, artists are unable to present their works. According to Statistics, the art market is worth $ 50 billion, down $ 14 billion from last year. In addition, global art sales transactions grew from 40 million in 2019 to 31 million in 2020. Artists needed an alternative to survive, and NFTs emerged.
Blockchain technology has proven useful in this time of crisis. Thanks to NFTs, new digital artists have emerged, and artists familiar with the web3 space have been able to tokenize their works and sell them in an NFT marketplace. But what happens to the unique works of art by traditional artists who are not digitally savvy?
Bringing art galleries and artists to the metaverse
Metaverse is a vast virtual world that transforms social interactions, shopping, gaming, and other activities. By emphasizing NFTs, the metaverse creates a digital economy in which businesses, influencers, brands and users participate. Undoubtedly, the driving factors behind the hype in the metaverse are NFTs and the fact that they are decentralized.
The pandemic has made many artists aware of the power of blockchain technology and the urgency of establishing their presence in the digital world. However, many lack the basic knowledge to get started. Traditional art galleries have also disappeared from the increasingly fast-paced digital landscape and need help adapting to NFT’s multi-billion dollar market.
ArtMeta has emerged as a platform for mainstream artists and galleries, with a mission to bring them into the metaverse. As a digital signage solution and transaction platform, artists and galleries can use the tools to enter the market. Galleries create their unique metaverse spaces with their artists, showcasing art in a new way, beyond the limits of standard gallery walls.
CEO Roger Haas said he and his team seek to bring galleries and artists into the digital space by providing the tools they need to tokenize and sell their works as NFTs, transfer of ownership rights and digitization of works to prove originality. In addition, he envisions ArtMeta as a platform that will provide the crypto community with the highest quality proven digital and physical art.
Haas said ArtMeta will partner with leading galleries and artists who attend world-class art fairs to deliver the most exciting digital experiences for viewers looking to purchase artwork. According to him, ArtMeta is a place to hang out, learn about culture and art, and experience new things.
ArtMeta held IDOs for its $ MART tokens on Trustswap and Polkastarter, in December 2021 and January 2022, respectively. This sign serves as a medium of exchange in the metaverse, especially for land leases, and opens up exclusive access within the metaverse as well as live events and NFT drops.
The launch of $ MART will be followed by token listing on centralized and decentralized exchanges. These events are scheduled for the second quarter of 2022.
The team is currently working on developing the alpha version of the metaverse, integrating galleries and level 1 artists, and hosting NFT events and exclusive releases. Finally, the metaverse beta will launch in 2023.