International blockchain platform Tezos expands support for digital art industry participants and invests €100,000 in the projects of the Estonian startup Kanvas.
Kanvas became the first art startup in the Baltic States, the development of which was supported by the Tezos Foundation. In a joint call, the partners announced that as artists’ interest in digital art expands, so too will the number of artists choosing Tezos to create non-fungible tokens (NFTs):
“One of the biggest problems with the art market is that art is very local and it’s hard for an artist to go international. Technology opens up many new possibilities. In partnership with Tezos, our platform offers them to artists and gallery owners. In this way, works of art can be touched by a much wider audience.”
According to the startup team, with the support of the Tezos blockchain platform, various technical solutions will be offered to artists, collectors and galleries: a virtual environment for buying and selling, a secondary market for collectors, online exhibitions, NFT opportunities and augmented reality technologies. So far, 75 professional artists from Estonia have joined the Kanvas platform, as well as 20 collectors. In May, the non-profit organization Tezos Foundation announced that it had raised approximately $1.23 million to support the creation of non-fungible tokens based on the work of emerging artists from Asia and Africa. Tezos Ecosystem Communications Director Reid Yager said that in the coming years, artists around the world will be able to freely create and sell their NFTs.
Source: Bits
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