NFTs and digital art pieces are flying off shelves at the moment.
A glance at non-fungible reveals that Bored Art and Crypto Punks have cumulatively grossed over $3.2 billion in all-time sales.
And this is just less than four years after the first truly “wild” NFT project, CryptoKitties, blasted to the valuation stratosphere.
The Problem with Avatar NFTs
Holding a high-value crypto artwork, most of which auto-generated CGI replicated copies with artificial scarcity, is more prestigious.
Early crypto adopters and whales hold these pieces to show to the masses their pocket depth. The result has been a frenzy where modern-day, gifted digital art hit their workstations to mint “art”.
Admittedly, they might get lucky to mint thousands of art pieces. The problem, however, is this; these pieces lack the artist’s soul. Even though there is an element of rarity, they technically lack scarcity due to their abundance and ease of minting.
This is why there must be an intervention to not only tap the benefits of the blockchain and NFTs but to force innovation into a space that’s increasingly becoming a bubble.
Once the bubble pops, Charlie Lee—one of the first crypto adopters behind Litecoin warns, most auto-generated avatars passing for art would be worthless. Since crypto and NFTs award trend-setters and brave hearts, Vincent Peters is creating a new project called the inheritance Art.
Introducing inheritance Art
Their objective is to make holographic recreations of famous fine art masterpieces, like those found in museums like the Louvre. Holograms are created from Holography, an advanced technique of photography used in precisely re-creating digital copies of 3D objects using laser, literally duplicating its features.
The lead creator reasons that certain art pieces are too precious for holders to sell or even send to museums. These pieces often cost millions of dollars and are considered priceless. However, they are on-demand. Many users, even artists, would consider viewing them.
Holograms and NFTs
Users would access these fine art pieces through holograms via the inheritance Art project.
All artwork holograms will be recreated with full permission from current holders to prevent any form of infringement. At the same time, the team behind inheritance Art is from the best in their respective fields. It would include gifted digital artists and animators.
Accordingly, with approval and digital replication of these sought-after pieces, it would be possible for the original art holder to officially sell the digital version of the work for a decent profit without losing custody of the physical, priceless piece.
Behind this will be the mesh of new-age technology like spatial reality displays for viewers to appreciate the beauty of art. At the same time, the Inheritance Art team has said it will be creating integrating two-dimensional intelligent NFTs merged with robust, vast databases capable of machine learning processing. Because of this feature, Inheritance Art NFTs would be the industry’s most interactive and sophisticated assets, setting the trend in the sphere.
Building on Arts’ Passion
Vincent Peters is the Chief Designer for Inheritance Art, playing the same role in the Rex Mundi sports analytics platform. Previously, he worked in Elon Musk’s SpaceX and Starlink projects. He’s a Systems Engineer, graduating from West Point.
He is passionate about art and has opened private art galleries in Los Angeles. Then, he showcased the capabilities of inheritance and how it can be used to bring a person’s memories to life before creating inheritance Art with a focus on NFTs.