Most of us probably noticed the booming NFT market. Many NFT marketplaces appear, the NFT market already became a multi-billion industry with over $2.5 billion in NFT sales, but the revolution behind the NFT is still catching up with the global NFT evolution.
The emerging problem of the NFT is clear. Where the NFT content media is actually saved and what happens if it’s altered or lost? Some people are even calling it ‘NFT404’.
Foil Network deployed the solution by developing the Pure NFT blockchain platform. On FOIL blockchain a non-fungible token contains the immutable data stored forever on-chain. The NFT media content is not moved somewhere or stored on third-party unknown servers. This protects the NFT token from altering in any way or a damage made to NFT, as it’s stored directly on-chain. NFT can’t be replicated, stolen or copied because of the authorship verification via blockchain identity. Pure NFTs are stored on-chain forever and can’t be lost.
Foil introduced the Pure NFT technology as a blockchain-as-a-Service platform and sharing this information via presenting NFT marketplace and NFT platform was the primary goal of the private auction event in Moscow, Russia.
Foil Network held an offline auction on July 15, 2021, in cooperation with Prometheus Crypto community, gathering NFT artists and collectors into a private event downtown Moscow of uncensored NFT art. The NFT auction was held in “Looking Rooms” space, located right next to the Kremlin.
The event involved multiple NFT artists and media bloggers, representing their NFT works for the first time. The Russia’s and world-famous top caricature artist, Sergey Elkin, a famous blogger, Ruslan Sokolovskiy, musicians like Outkast band and “Hohlov Sabatovskiy”, an online education platform. Hohlov Sabatovskiy created the documentary movie about NFT artists and influencers from Russia, unveiling the most important know-how from the top NFT communities and artists of Russian NFT scene.
The NFT lots in the offline auction combined different digital art such as comics illustrations, paintings, digital icons, vip tickets and collectibles from famous social media bloggers. A dedicated collaboration involved NFT256, a group NFT art masterpiece built by 256 artists, who brought a third NFT dedicated to the portrait series, called “Pangea”. This NFT involved all NFT256 artists who created a portrait made out of 256 combined digital paintings.
The “Golden VIP Ticket” of Outkast band, was sold as NFT for more than $13,500 US and included a collectible all-inclusive VIP ticket with special extra digital content from world-famous miniature sculptor Salavat Fidai, who had past cooperation with US top artists like Justin Bieber. The NFT ticket also included a signed CD by the Outkast band and Salavat Fidai himself and 4 VIP passes to all future concerts and events of the Outkast.
A unique NFT art called “Catching up with Malevich” was created by Sergey Elkin, a Russian caricaturist and architect, recognized and works of whom are regularly seen by millions of top newspaper and magazine readers. The genius and simple representation of Malevich in terms of seeing the NFT art, has impressed the collectors as well as the crowd, making everyone feel like Malevich created the first NFT many years before the computer technologies, just by making his genius “Square”.
An impressive documentary called “NFT – The Art of Selling Art” was the first ever NFT-produced film. This documentary, made by an education platform, is about innovative NFT art and explains how it is possible to sell any art over the NFT marketplaces. The exploding NFT market, described by NFT artists and activists, such as Brickspacer, ARK and other emerging digital artists groups from Russia.
The documentary was sold for over $13,500 US along with the verified authenticity and broadcasting license right in the crypto asset, a non-fungible token.
NFT tokens as an emerging digital form of art and real representation of physical value and includes a lot of use cases, such as finance instruments, collectibles, property and real-estate transfers. NFTs are now a solid part of the crypto community. Just like digital art impacts the evolution of society and development of any civilization, NFT changes the way we look at digital art and physical values in the 21st century. The NFT market cap is expanding non-stop and as the year 2021 has shown, the 2021 annual sales are making all time high records, exceeding the initial growth of Bitcoin or Ethereum cryptos, for example. And this is happening in just 3 years since the NFT being introduced as a technology, with Cryptopunks and Cryptokitties minted on-chain as 8-bit pictures.
The pandemia and the lockdowns have caused a more understanding of the art value, just by looking onto it. Digital representation of physical art is the way to enjoy masterpieces and collect art without leaving home. NFTs are having their highest demand and interest, as art collectors and speculators spent over $200 million on NFT-based art just in July 2021.
Foil Network offers Blockchain-as-a-Service with integrated NFT Marketplace with NFT crypto wallet and on-chain NFT storage in a rapid and elastic blockchain. FOIL will continue integrating the unique and solid Pure NFT standard, compared to regular hash-linked NFT assets. The elastic blockchain plan on integration of NFT standard and storage over the blockchain into various NFT Marketplaces. In order to support NFT artists, to help them mint on-chain NFTs, with NFT media content stored in a single crypto asset, FOIL plans to hold and participate in more such events in the future.
Foil Web Wallet is not just a simple crypto wallet. It is a fully cross-chain capable application with integrated DeFi, DEX and Pure NFT services. FOIL Web Wallet users can mint non-fungible tokens, trade on the NFT marketplace and enjoy the NFT staking over defi. Centralized NFT marketplaces are wrong for distributed ledger technology in both terms of ideology and the structure. A decentralized space, being forced into centralized entities like most NFT marketplaces and crypto exchanges are.
FOIL run unique cross-chain technology with full support of the integrated cryptos including Bitcoin, Litecoin, Dogecoin and Dash. Dogecoin can be used to buy and sell NFTs over the Marketplace, and FOIL extends the range of defi services for Dogecoin community, including earning $FOIL in Dogecoin and NFT staking.
Foil Network continues to introduce their services and offer the Pure NFT integration into NFT Marketplaces and full support of the NFT storage and on-chain KYC and verified blockchain identity services. After an initial private seed round completed overnight, the FOIL blockchain is ready to be integrated into third-party platforms. FOIL crypto attract a lot of crowd due to the unique solution and technologies behind the elastic blockchain.
Find out more about NFT Offline Auction and how it could solve NFT-related problem of the storage and verified authenticity of the artworks in terms of growing NFT market. Read the dedicated NFT auction article about the auction event:
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