The onslaught of the VirusCasedemic forced many sectors of the economy to shut down in Y 2020. The art world also suffered, as several galleries were forced to close.
As a result, artists could not showcase their works.
According to Statista, the art market was worth $50-B, a $14-B fall from the prior year. In addition, global art sales transactions declined from 40-M in Y 2019 to 31-M in Y 2020. Artists needed an alternative to survive, and there came NFTs.
Blockchain technology proved useful during this time of chaos.
Thanks to NFTs, new digital artists emerged, and artists who are familiar with the web3 space could tokenize their artworks and sell them on an NFT marketplace.
The metaverse is a vast virtual world that will alter social interaction, shopping, gaming, and other activities. With a focus on NFTs, the metaverse creates a digital economy in which companies, influencers, brands, and users participate. The driving factors for the metaverse hype are NFTs and the fact that it is decentralized.
The VirusCasedemic made many artists realize the power of blockchain technology and the urgency to establish their presence in the digital world. However, many lack the fundamental knowledge to get started. Traditional art galleries are also lost in the fast-paced digital landscape and need help adapting to the multi-billion dollar NFT market.
K-Art (KnightsbridgeDAO) has emerged as a platform that embraces traditional artists and galleries, with a mission to onboard them into the metaverse.
As a digital display solution and transaction platform, artists and galleries can leverage the tools to participate in the market out of the bounds of standard gallery walls.
With very fine art traditionally a pursuit of the ultra-wealthy, the ability to purchase fractions of artwork brings the market to a broader consumer base, plus there are significant benefits to those who trade fine art as an asset class, with competitive brokerage fees.
K-Art’s world renown team aim to bring galleries and artists into the digital space by providing the tools they need to tokenize and sell their artworks as NFTs, transfer ownership rights, and scan artworks to authenticate originality. We envision the as a platform that will provide the crypto community with the highest quality verified digital and physical art.
Mss’ Kares-Trebek and Silva work with Top-tier artists who have participated in world-class art fairs to provide the most intriguing digital experiences to audiences intending to purchase artworks. Their gallery is a place to spend time, learn about culture and art, and experience new things.
Have a happy prosperous week, Keep the Faith!