All over the world, the international action “Month of Women’s History” is coming to an end, the purpose of which is to highlight the contribution of women to world history and the development of modern society. Under the auspices of the action, blockchain enthusiast and artist Evgenia Egorkina contributed to the development of the emerging market for digital art on the blockchain.
The canvas of her painting “Women” was bought for 1 BTC by an entrepreneur at the RuTalks club evening “Digital 2021”. This transaction constitutes the acquisition of an asset. Soon, the hash of a digital canvas copy with unique visuals will become a non-fungible token (NFT) and will take place on the blockchain using one of the NFT platforms.
With her work, Eugene drew attention to the issue of the position of women in society. The duality of the picture is that the viewer asks the question – what the women depicted on the canvas think about: about fullness and emptiness, about the right and lack of rights of women in different periods of history, about love and disappointment, about strength and weakness. The viewer reflects on the mystery and mystery of female nature.
NFT is the only element of the blockchain ecosystem that can be uniquely tied to a specific digital object, that is, any graphic, video or audio file. Its hash will always be stored on a decentralized network and will indicate the true authorship of the work. When a token is sold (the right to manage it is transferred), data about the owner is recorded, who can dispose of his rights to further resell the work.
Evgeniya Egorkina has acted as a speaker and organizer of events on blockchain topics many times. Back in 2018, she spoke at the first Russian meetup dedicated to women in the blockchain field, about the future of technologies in economics, art, medicine and information security, participated in plenary sessions of the International Telecommunications Academy, was a TV journalist and founder of the Blockchain TV YouTube channel.
As a market insider, Evgenia outlined the issues that NFT platforms must solve in order to prove their viability in front of the established institutions of the art market.
“For NFT marketplaces, art value segmentation is required. There are platforms that allow any user to register as an author and sell their art. CGI artworks hosted on these platforms are shaping a new digital art market, in which the largest auction houses are showing interest.
To sell digital copies of canvases on the NFT marketplace, you need to add several actions to confirm the legitimacy of transactions. It should not be forgotten that the value of canvases by contemporary artists in the sale is confirmed by the classical institutions for the evaluation of art objects. The emerging art tokenization market is not yet capable of completely replacing the activities of these institutions.
Digital copies of those paintings that have passed the assessment procedure must be presented on the marketplace as a separate block, for which a special KUS procedure (client identity verification) needs to be developed and implemented. This procedure will confirm the identity of the author and owner of the canvas and his right to publish digital copies. The competitive advantage and viability of NFT marketplaces in the future will depend on the ability to ensure the security of the storage of personal data of its users. ”
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