Arties, a Swiss start-up in the NFT space has partnered with the Austrian artist Voka to launch an innovative NFT project. Leveraging artificial intelligence, the NFTs are generated based on Voka’s physical artworks, showcasing the artist’s unique style known as Spontaneous Realism. Notably, five of these NFTs are asset-backed, meaning there exists a physical double alongside the digital counterpart. This is also called phygital art. Arties’ vision is to tokenize physical objects on the blockchain, enabling decentralized transfer of ownership, particularly within the realm of art.
Unlocking Opportunities for Traditional Artists
Arties aims to open doors to the NFT market for traditional artists through its vision of “bridging the gap between fine art and web3.” Under this premise, the company plans to develop a platform that tokenizes physical art from traditional artists, allowing them to reap the benefits of NFTs. By embracing blockchain technology, Arties seeks to provide a means for decentralized transfer of ownership and empower artists in the digital space.
The Arties x Voka NFT Collection
The launch of the project introduces the Arties x Voka NFT collection, offering 750 mint passes for sale. These mint passes symbolize membership, granting buyers the ability to mint an NFT from the Arties x Voka collection (the NFT is already paid for through the mint pass purchase). Additionally, mint pass holders have a pre-emptive right to purchase NFTs from future collections. The majority of Arties x Voka NFTs will be exclusively available through mint pass memberships, with only a limited quantity of 250 NFTs being sold individually.
Asset-Backed and Non-Asset Backed NFTs
The entire Arties x Voka NFT collection consists of five distinct themes. Each theme features an asset-backed NFT representing
a physical artwork on canvas created by the artist using conventional methods. The remaining images within each theme are generated as digital artworks using artificial intelligence trained by Arties on Voka’s existing art pieces. This allows the AI to replicate Voka’s style within specific themes. For instance, the AI can create a digital representation of an astronaut in Voka’s distinct style.
Smart Contracts and Ownership
Ownership of the NFTs is represented through smart contracts, functioning similarly to a real estate registry. In the Arties x Voka collection, there are 1000 tokens, with each token representing an individual NFT. Token number 0-4 are associated with physical paintings through legally binding contracts, as they represent the asset-backed NFTs. This project serves as the pilot for Arties’ asset-backed NFTs and lays the foundation for a platform dedicated exclusively to marketing such NFTs.
Phygital Art: Blending the Physical and Digital
Beyond tokenization, Arties aims to provide artists with the opportunity to digitally represent physical artworks with modifications. Buyers can choose
not to claim the physical painting, allowing Arties to manage it on their behalf. Alternatively, the buyer may opt to display the digital version of the artwork on a screen instead of the physical painting. In this scenario, trading can occur without physically moving the artwork, as the value of the physical and digital versions remains equivalent. This concept is known as Phygital Art.
Arties’ collaboration with Voka and the launch of the Arties x Voka NFT collection signify a significant step towards bridging the gap between traditional art and the Web3 era. By leveraging AI-generated NFTs and asset-backed tokens, Arties aims to empower traditional artists in the digital space and facilitate decentralized ownership transfer, with plans to create a platform dedicated to asset-backed NFTs.
This is the fifth article in a series of eight posts about the impact of tokenization and NFT on the art world. Find below more blogposts and stay tuned to learn more.
- What are Phygital NFTs and how do they work?
- The Benefits of NFT Artwork
- Phygital NFTs: The Fusion of Physical and Digital Ownership
- Unlocking the Future of Art: The Rise of Digital Art and NFTs in the Art World
- Talking about NFTs and Digital Art
- Talking about NFTs and Digital Art Part II
- Arties: Pioneering the Phygital Art Revolution through Digital Art and NFTs
