Introducing ArsMuse, the revolution in NFTs and Art Dealing
ArsMuse is an NFT marketplace “with a twist.”
Although it is primarily aimed at musicians in the first phase of the project, we plan to include all types of artists, from performing arts to static collectible art.
The main difference between ArsMuse and any other NFT marketplace out there is: Smart Contracts. ArsMuse has a unique, patent-pending technology to create a new type of Smart Contracts that allows artwork (both digital and physical) to be managed seamlessly.
How does ArsMuse do it? Read on!
ArsMuse is based on three pillars:
- ARS Token
- Social Media
Both the marketplace and the ARS token are built on a main blockchain. In this case, we chose Solana ($SOL) for several reasons. However, we have plans for bridges for multiple blockchains and currencies, including Polygon/Matic, Cardano, Near, and Algorand. Please read on for more details.
- Lazy minting
- “Artist-first” approach
- Exclusive cryptocurrency token
- Automatic 1-click NFT creation
- Low fees (even free)
- Virtual/Physical bridge
- Purpose driven smart contracts
- Social Media Outlet
- Metaverse API
- Non Fungible Tokens (NFT)
- Audio, video and digital images
Cross-dimensional (virtual/physical) Monetization
Note: when we speak about cross-dimensional, we use them in the sense of digital, virtual, and physical dimensions, as defined in Quantum UX.
Here is a small sample of possible applications:
- Tangible objects (collateral)
- Concert tickets
- IP rights
- Non-digital artwork
- Artist and venues deals
Initially, ArsMuse will be primarily a music and performing arts marketplace, with visual digital art as a byproduct. The reason for this decision is twofold:
- To avoid the current saturation in digital NFT (collectible) art.
- To stand out as a completely different solution with significant technological improvements
The above two definitions are central to all parts of the ArsMuse project.
The first definition is an acknowledgement of the “state of the art” of NFT (no pun intended) and the limitations it imposes.
The second definition guides the project to overcome these limitations through a superior instance.
We have identified a set of problems that affect artists of all disciplines and all levels of experience. From new, undiscovered artists to famous superstars, there are common problems for both despite the difference in audience reach.
Some of these problems are:
For all artists
- Lack of control over their work
- Poor monetization opportunities
- Middlemen taking a large cut
- Ephemerality of art
- Extreme dependence on streaming services
- In most cases NFT tokenization is not a realistic option
For new artists
- Lack of access to economic support
- Lack of audience reach
- Inability to make a living from their art
- “Giving up” on art to satisfy the market
Towards a Solution
ArsMuse has developed a set of solutions that solve each of these problems while creating new, disruptive ways to further expand the presentation, distribution and monetization of artists’ work.
At the core of ArsMuse is its own concept as a purpose-driven NFT.
A purpose-driven NFT is a non-fungible token that has one or more purposes beyond collecting and/or holding.
Unlike collectible NFTs, which are used only as speculative assets, purpose-driven NFTs (PDNFTs) can have a variety of uses.
To better explain this, let us start with the big question: What is an NFT?
And the answer is simple: NFTs are essentially a digital contract.
As such, they allow users to enter into any type of transaction, just like a physical contract, only with an overall value: they are incredibly cheap, they have no physical limits or requirements, they have value beyond their own purpose, and because they are part of a blockchain, they are much more secure than any physical contract.
With these concepts in mind, ArsMuse has created a system that allows artists to create complex contracts with a simple click of a button and earn a profit many times greater than most other revenue streams. All without losing (or affecting) their current income.
ArsMuse Solutions Explained
ArsMuse does not have just one solution. Instead, ArsMuse itself is a constantly evolving set of solutions based on an inner protocol. This protocol provides a framework that dictates a set of rules.
- On the one hand, these rules can create different scenarios in which different types of smart contracts are created.
- On the other hand, these rules define the type of NFT to be created and the associated smart contract.
- Finally, there is a third set of rules that acts as a bridge between physical and virtual environments and allows artists to create NFT crossovers.
Let us look at a simple example: Let us say an artist creates a song and decides to sell it as an NFT without selling licensing rights. But she also decides to include a manuscript copy of the song and a ticket that the buyer can redeem at any concert.
This is unusual (since it did not exist until ArsMuse), but the situation seems quite trivial: she does not give up her royalties, she makes some (quite a lot of) extra money, and she gives some extras to attract buyers. Nothing out of the ordinary.
However, if you think about it, there are a lot of issues: there are legal issues, a lot of technical development issues, communication considerations, there are logistical issues, there is control tracking and so on.
And that’s without considering a fairly simple question: Will this NFT be exclusive, or will there be multiple copies of it?
So as you can see, ArsMuse goes far beyond collectible NFTs (or any kind of NFTs as we know them).
Instead, ArsMuse is able to take advantage of nearly infinite possibilities, adapt to whatever scenario is needed, create a smart contract for that scenario, and then tokenize the whole thing as an NFT.
And the best part? Artists pay NOTHING, they just need to upload their art, add some basic information and press a button.
And yes, collect money.
How it Works
ArsMuse consists of several different layers, each of which has its own specific features.
However, a common case could be described as follows:
An artist registers with the ArsMuse platform. Once in the administration area, she can upload any type of digital artwork (music, video, images).
Once the artwork is uploaded, the artist is offered several options based on the different monetization methods available on ArsMuse. These options generate the appropriate contract for the chosen method.
Once this is done, the artwork will be featured on the NFT marketplace. However, it is NOT an NFT yet. One of the many interesting features of ArsMuse is “Lazy Minting”. This means that a work of art does not become an NFT until someone pays for it. In other words: Unlike most NFT marketplaces, minting NFTs on ArsMuse is completely free.
Now let us assume that someone wants to buy the artwork. Depending on the options chosen by the artist, the buyer can buy different options, all tokenized as NFTs.
So the buyer clicks on the “Purchase” button and gets a detailed description of what she’s buying.
In the most common case, she’ll probably buy a digital medium that is tokenized as an NFT, just like any other NFT you know. Kind of.
Keyword: Kind of…
As you can see, this looks more or less like any other marketplace. Even in the simplest case there are noticeable differences, but all in all it looks pretty much like any other NFT transaction.
However, in our simplest case above, it’s easy to see that there are a few concepts that are not “quite like…”.
Let us start with the core or ArsMuse.
At the core… the artist
Despite the incredible amount of groundbreaking technology that went into the development of the ArsMuse concept, we never forgot why we built it.
And the answer is simple: we built ArsMuse from the perspective of an artist, for artists.
Our technology is stunning, granted. But without artists, it would have no meaning. And without their art, neither would it.
So let us see how ArsMuse helps artists.
Direct Artwork NFT or DANFT
A Direct Artwork NFT (or DANFT for short) is exactly what the name implies: the conversion of any kind of artwork into a digital file and its subsequent tokenization as an NFT. In other words, Jane uploads a picture she just took. She does not need a special contract, she just wants to monetize her artwork. So the whole process is as simple as upload, sell, get money*.
This is the simplest use case you’ll find in any other NFT marketplace, so it’s pointless to dwell on it.
*Remember: On ArsMuse NFTs only exist if someone buys them, otherwise they are just a normal digital file.
Indirect Artwork NFT or IANFT
In contrast to the case above, an Indirect Artwork NFT (or IANFT) is a type of NFT that we at ArsMuse have developed with the intention of solving most scenarios that artists face on a daily basis.
It is not as simple as a DANFT. On the contrary, it can range from “some thought required” to “extremely complicated”.
The main use cases that IANFT considers are the following:
- Legal issues
- Financial issues
- Dimensional issues (physical, digital or combined)
- Distribution issues
- Marketing issues
- Other miscellaneous issues
Moreover, each of these cases can coexist with another. Therefore, the problems to be solved can become extremely complicated.
The good news is that ArsMuse can solve most of these problems (even ones you did not even know existed!).
In a future article, we will introduce some of our most exciting features. Not only that, but we will reveal who our first backers are! Stay tuned, because it’s as big as our project!
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