The following post was written by community contributor @laserbach
seen.haus is an auction house that brings the physical and digital worlds together. Seen.haus establishes itself as a trustworthy platform for creators and investors offering limited-edition high-quality pieces of digital and physical artworks.
By leveraging blockchain technology, seen.haus provides immutable and publicly verifiable proof of authenticity for its listed artworks that permanently links each physical art piece with its digital representation.
Welcome to seen.haus! Chances are that this brief introduction leaves you with more questions than answers, but fear not! This article aims to provide you with an overview of digital art, Non-Fungible Tokens (NFTs) and their application in the art space!
NFTs and Digital Ownership
Blockchain technology is truly revolutionizing our world right now. By harnessing the power of a public and immutable ledger of data, we are watching the international banking system be disrupted in real-time.
The use cases for a transparent, verifiable registry of transaction data are endless, as there is no central supervision which allows for fraud-resistant systems. Decentralized messaging apps,cloud storage, cloud computing and novel voting systems have rapidly emerged, just to name a few examples.
In this wave of innovation, we want to specifically focus on the digital ownership aspect — the blockchain-powered digital economy. Non-fungible tokens (NFTs), often referred to as collectibles, are the key building blocks underlying this concept.
An NFT is a type of cryptographic token on a blockchain that represents a unique asset. These can either be (1) entirely digital assets or (2) tokenized versions of real-world assets. Every NFT token is unique and has variable properties, which are not interchangeable and may function as a proof of authenticity, providing ownership within the digital realm — similarly to a certificate of authenticity provided with a purchase of a rare painting.
Each NFT comes with its unique ID, a fingerprint, and is linked to a specific owner. The NFT ownership is at any time verifiable and transferable which provides for an immutable publicly verifiable track record of the digital asset.
The demand and use cases for this newly enabled digital ownership is rapidly expanding as blockchain provides for a decentralised, yet secure system for recording virtual property rights.
While items, currencies and avatars have been traded in the gaming industry for years, adoption of NFTs provides gamers true ownership for their in-game assets and a marketplace to monetize their skills.
Starting with collectibles and gaming assets, NFTs are gaining traction across many industries. We see NFTs being used for insurances, real estate and fine art. Regardless of the specific sector, NFTs are fundamentally changing how we perceive digital ownership and it is clear that its more than a trend.
Digital Art Movement
The art scene is one that benefits of this new technology the most. Digital artists in particular experience a lot of difficulties when it comes to protecting their copyright online.
Up until now it was essentially impossible to monetize digital art. A gif, a digital image or a video can easily be copied or downloaded. This diminishes the value of digital art when traded commercially.
The introduction of NFTs finally solves this problem. If a digital artwork is tokenized, the artist can easily and safely sell his or her artwork on NFT marketplaces and buyers are able to verify the and track record of this art piece.
Therefore, together with the art piece the buyer also gets a unique NFT representing ownership rights recorded on the blockchain. This ongoing trend of tokenizing assets allows for creators, collectors and holders to track and validate digital art.
Merging Digital with Physical Art
At seen.haus, we are taking it one step further to fashion an entirely new form of art, combining traditional and digital art. It brings digital and conventional artists into a new realm where an art piece exists both in digital and physical worlds and provides for a platform where the audience is introduced to modern art.
Each physical art piece contains a specifically generated QR code that is tied to an NFT. The NFT in turn contains the digital representation of the art piece together with tamper- proof history of ownership. The collector then owns both the tangible and intangible assets and has blockchain-stored proof of its authenticity and his ownership.
By providing this unique service and facilitating collaboration between renown and raising artists, art-lovers, collectors and investors, seen.hause aims to be the platform displaying finest tangible and digital art where artists meet their audience and investors find true value and can rely on authenticity.
The safety and transparency of tokenized art and the selection of exceptional art pieces makes seen.haus an easy entry point for both artists and potential collectors into the digital art space.