Different artists exhibit their work on a monthly basis in CoCasa
The Art needs a method to sell the art. Create the Art Auction Application
The Artist creates and registers their NFT on mintbase for each piece of Art they sell in the SPACE
The SPACE places money into an Insurance Contract guaranteeing that the Auction is legitimate and all pieces are authenticated
The NFT is then placed on Auction with each auction closing on a specified day
The Art hangs in the SPACE during the time of the Auction for public viewing
Members can register for the Auction by either being alerted by the Auction Application, where they can receive notification of all auctions or specific art or genres etc. A member can also register for the auction via the Artwork QR Code, which allows the Member onboard process to complete.
The auction is done by the member staking 10% of the bid in a contract which will return the funds if the auction bid is not successful
The Artist can elect that for every Artists Community token (unique for each artist) they may allow any arbitrary bonus e.g. 2 Euros for every token redeemed.
So a bidder can bid 10 Tokens = 20 Euro Bid. This allows the Artist to sell tokens to commission the art and this can be bought by the artists network.
Artists on boarding involves creating their own DAO coin (see IDEA: Artist Fundraising DAO)
Once the Auction concludes the NFT holder can either claim the art piece or rent the piece to people and earn a monthly dividend.
The NFT Rental contracts are a method available to NFTs purchased in the Auction.
Groups of people can collectively bid on an NFT also allowing for art investment funds to be created
The artist can embed additional value in the NFT such as video footage of the creation or documentary of the piece etc. potentially making them more valuable to the bidder.
NFT holders can vote for re-auctioning an NFT on the platform after purchase
Enhancing the Mint base marketplace by:
- Creating a easy gateway for artists to create NFTs and improve the marketplace of NFTs
- Increase the use cases for NFTs on mintbase
- Allow for multiple ownerships to be embedded in an NFT
**Leveraging the NEAR ecosystem by: **
- Create case for NEAR DAOs for Artists seeking funding
- Use Near to store ownership data
- Use Near to store membership data