AvatarArt helps to bring order to the chaotic world of NFT. “The task of art today is to bring chaos into order” – Theodor W. Adorno. Be that as it may, NFT remains confusing to the artists community. There must be an answer to whether or not a million worth NFT does have a true value.
An Omni NFT Marketplace
AvatarArt, the chosen spearhead project on ByteNext ecosystem, aims to lead “real” NFTs into the Metaverse. They pick a different approach to bridge Technology & Art by collaborating with CHỌN de l’art, a contemporary art Auction house that applies strict curation process approved by world class auction giants like Soltheby’s or Christie’s. This is where NFTs listed on AvatarArt can assure their long-term return as the next Mona Lisa or Starry Night.
AvatarArt offers a seamless experience for creators & collectors to monetize graphics and physical arts, at ease. Besides helping artists mint their physical artworks into NFTs, AvatarArt is fully supported by featureful ByteNext systems, ranging from Launchpad, DEX, VR Exhibition to Yield Guild. It also offers the function of fractionalizing valuable NFTs and listing them on the order book exchange for real-time transactions. Now the high barrier of expensive initial investment to collect artworks is eliminated, allowing more individuals to co-own one valuable piece they all love and help diversifying personal portfolios
A dreamland for Metaverse citizens
According to Chainalysis, global crypto adoption rose some 881% in the past 12 months. Vietnam topped the world in terms of high crypto adoption rate, followed by India, Pakistan, and Ukraine.
Pic1: Global cryptocurrency adoption among ranking
Besides Defi, Vietnam’s NFT market has become more exciting, especially after the blooming success of Axie Infinity – the P2E NFT Game. Blockchain games are also the most bullish NFTs in the latest report in the area.
NFT investment trends in Vietnam
NFT Game: Vietnam’s hidden gems that capture global attention
Besides Axie Infinity (AXS), many Vietnamese blockchain game projects also aim to be the next Asia Unicorns such as Heroverse, Elpis Battle, Sipher. Some of them even hailed “Axie Infinity killer”. Recently, a brand new NFT game – Elemon (backed by Faraland, Certik, x21) is taking great attention from the community. Currently, Elemon’s market cap after listing on Pancakeswap and Coingecko is over $70 million, 3 days after listing.
NFT Art: How NFTs serve their ultimate purpose
NFT art accounts for a significant proportion with more than 21% of the entire Vietnamese cryptocurrency market
Annual return rate of contemporary arts is 14% , versus a 9.5% ROI from S&P 500, as reported by Citi Global. NFT has been considered as “the new gold rush” that tempts a huge number of individual asset managers. Be that as it may, most exchanges are done through international marketplace.
Moreover, artists are also struggling to sell their works. The break of COVID 19 made it even harder for artworks to enter liquidation. A drop up to 22% in 2020 Sales, equivalent to $50 Billion, seriously affected the art industry worldwide – Art Basel Global Market Report unveiled. Although these works contain high verifiable, cultural and creative worth.
Shedding light on Viet NFT Arts
Many Vietnamese art pieces are highly appreciated during top-tier auctions.
The painting “Portrait of Madam Phuong” by artist Mai Trung Thu (1906 – 1980) was sold by Hong Kong Sotheby’s auction house on April 18, reaching the price of $24,375,000
After years of outsourcing international projects, Vietnam’s resources of software engineers and artists have high potential in innovative collaborations, fueling the NFT art market there. As DeFi keeps on building the future financial track, NFT will periodically enter the social zeitgeist, authoritatively turning into the key identification to make the Metaverse Economy a reality. In 10 years, Vietnam is expected to catch up with world class Blockchain developers and even surpass many major players.
The Innovation of Blockchain technology has transformed the world of art, offering a new monetizing mechanism that allows contemporary arts to enter mainstream. AvatarArt steps in to remove the geographical limit and grant accessibility to the art market, granting greenlight and profit for all. Not only digital assets, now physical paintings can be minted into NFTs. This is a breakthrough solution that brings illiquid art back into the hands of collectors from all over the world and also serves the utmost goal of NFTs – protecting artists & creators in the digital economy.
The soft launch of AvatarArt is scheduled to be Q4 2o21, long awaited among NFT fans & supporters