BTC Wires: Blockchain technology, despite its many advantages in terms
BTC Wires: Blockchain technology, despite its many advantages in terms of security, transparency, reliability and cost-effectiveness; still remains far from mainstream adoption. However, baby steps are now being taken with blockchain-based projects seeking to make forays into the art and social entertainment ecosystems. It may be worthwhile to take a look at our top 5 art and entertainment related blockchain projects that have really set the bar with their content and services.
- Cryptokitties- When it managed to raise a $12 million funding, from investors including the well-known Andreessen Horowitz and Union Square Ventures, in December 2017, Cryptokitties caused quite a stir in the blockchain and entertainment industries. The platform basically generated collectible cartoon cats that can be bought, sold and bred over a Ethereum network. For a while at least, they became all the rage and ended up clogging up the Ethereum network so badly that some ICOs had to be postponed due to it. Cryptokitties are unique collectibles priced according to their rarity with their minimum prices remaining below $25 but the highest going all the way up to $100,000 dollars. Fun and entertaining, the Cryptokitties inspired many spinoffs such as Cryptopuppies and Cryptocelebrities.
- Scarab Experiment- The Scarab Experiment serves as a decentralized collective of artists with an emphasis on combined artwork. The platform is a multi-purpose persona that makes use of AI or artificial intelligence to process thousands of image submissions and generate one piece of combined artwork which incorporates the essence of all submitted pieces. Members are given a token and they can vote the best pieces of art that would remain a part of the final piece. The users can also trade their tokens over Counterparty DEX. The tokens, the maximum number of which can never exceed 100,000 determine the valuation of the project through circulation.
- Uplive App- This live streaming mobile application already had a user base of 20 million in last year and that number has only increased since 2018 began, especially after the app was used to stream behind the scenes content in this year’s KCONLA, the largest K-Pop event there is. They have also launched the Gifto token, which allows fans of content creators and influencers to send them virtual gifts of substantial real value. For example, Amber Liu, a massively popular K-Pop star, has received numerous gifts over the platform after she streamed some content and went live on the app. Monetizing gifts in a way that is both entertaining and useful, Uplive is a fun app to have for laymen and blockchain enthusiasts alike.
- Maecenas Decentralized Art Gallery- This gallery, touted to be the pioneering platform on open blockchain that makes access to great art democratic, allows anyone and everyone to invest in good quality art. Users can invest in portions of the artworks exhibited in the gallery paying a nominal 2% fee as opposed to the high rates charged by usual art auctioneers. User need not buy entire pieces and spend all their money and just buy a share in a particular artwork. The process of selling is as simple as that of buying artwork on this platform and users can transact using the platform’s native ART token or other digital currencies to invest however little or much they please. Fiat currencies can also be used but they come with hefty amounts of minimum investment.
- Rare Pepe Trading Cards- This is an example of how blockchain adapted to mainstream rather than vice versa. Rare Pepes started with people on 4chan making memes with Pepe the frog’s head being photoshopped with the picture of a parodied celebrity. They came to be known as Rare Pepe and gained great traction during the presidential campaign of 2016 as many users parodied the now-POTUS. This has now become a full-fledged trading network with some Rare Pepe cards being bought for over $10000. Pepecash is used exclusively for this platform and users have to pay a fee in Pepecash to join and add their artwork. Most artists too take payment in Pepecash.
Clearly, blockchain is spewing a host of interesting new art and entertainment projects that could well be the catalyst for a mainstream adoption of the technology.