KnownOrigin, an art venture plans to work with OxCert, an open-source permissionless protocol that authenticates digital assets on the blockchain. The aim is to promote artists on the blockchain. This collaboration will also promote the potential of non-fungible assets at the NIFTY conference and hackathon, which will take place in Hong Kong.
Nonfungible tokens are a special type of cryptographic token, which represents something unique. The best examples of these tokens are CryptoKitties. Each item is unique from the other. Other identical items can replace fungible items. A good example of fungible assets is Ethereum, Bitcoin, and other major crypto projects.
What Will The Partnership Entail?
When OxCert reached out to KnownOrigin, they wanted to set a challenge for artists to come up with a unique design for the t-shirt giveaway. According to KnownOrigin, which utilizes the Ethereum to bring art ownership to the digital era, this partnership elicited a major response from the community.
The deadline for submissions was tight. However, artists managed to submit entries and by the deadline, KnownOrgin had gotten 10 ultrarare pieces from five artists. The artists include CoinJournal, Hackatao, Massimo, Aktiv Protesk, and Oficinas TK. Since the challenge is a contra deal, which means money is not involved, OxCert will promote knownOrgin and the artists. Besides that, they will have the designs printed on t-shirts, which will be given away during the NIFTY conference.
In March, CoinJournal reported that the art venture was aiming to bring people closer to art using the blockchain. They are doing this by offering people a chance to purchase original artwork and rare digital assets. Using the blockchain technology, artists, and people who purchase art pieces can see how many pieces exist, which will help to drive up the price.
About The NIFTY Conference
The NIFTY conference will take place from 24 to 26 July 2018. At the conference and hackathon, it will be the first blockchain games and NFTs hackathon. Some of the notable attendees are Benny Giang, who is a co-founder of cryptokitties, Yiyi He, the cofounders of Mix Marvel, Pete Kim the head of engineering at Coinbase, Jure Zih, the CEO of OxCert, Jehan Chu, the co-founder and managing partner of Kenetic, Esteban Ordano, the founder and CTO of Decentraland, and Lili Feyerabend the co-founder of CryptoDecks.
The team at KnownOrgin has welcomed the collaboration opportunity. They said being able to work with OxCert and have a presence at the NIFTY conference was a huge thing for them. The team said they would closely monitor how the giveaway of the t-shirts goes down. In the future, they would be looking at other areas where they could work with OxCert.
Being able to secure art via the blockchain would be a great idea. Right now, upcoming artists have few ways of protecting their intellectual property. However, with the blockchain, both huge and small artists will be secured. Thus, they will only have to think about creating great pieces of art.