Today, Bluchip introduced its unique platform. This new platform enables the purchase of non-fungible tokens, or NFTs, tethered to an original work of art, painting, or sculpture. With this new initiative, the artwork is now of greater value as it is lifted into a global space. This new BluChip enables art collectors, cryptocurrency investors, and other people to access NFT assets. Then, these assets can be traded for real works of art that are represented by NFT. This will happen through a smart contract on the blockchain.
From Monday, May 23rd, the auctions will be on Bluchip’s website. Also, if a digital token is tied to a piece of art, NFT can be used to buy or sell the art itself.
In particular, the BluChip NFT Marketplace has some of the most incredible artists in its features. Unfortunately, their artwork is hard to come by for purchase. Names like Andy Warhol, Keith Haring, and Banksy are sure to get the attention of art lovers, and it is expected that many of them will be buying NFT for the first time.
Bridging the Blockchain Industry
The artwork market of NFT has moved exponentially in the industry as the newest investment-grade digital asset. With time, all forms of intellectual property have moved to the blockchain, and the benefits are numerous. It is also impressive that the platform comes with substantial security for artwork, as the blockchain eliminates malicious users. Direct to market ownership also allows marketplaces to flourish without middlemen.
With so many aspects of the industry, the NFT niche has increasingly been more exciting and filled with loads of opportunities. So far, the biggest challenge has been connecting digital blockchain assets with physical assets. But unfortunately, there has just been no way of putting the blockchain on a physical painting.
Moving forward in the new technology, a two-way entry accounting concept is used, where both digital and physical assets can hold unique value to the market. These assets are linked together by Solana, a decentralised technology that monitors digital assets using smart contract. Interestingly, the buyer and BluChip NFT owners hold rights that do not clash.