Art can die. This is certainly an ironic name for a project that aims to revive the art industry. That said, it’s also a pretty catchy name, representing a complex, multi-layered ecosystem that aims to bridge the gap between art, artists, and the general public.
FYI, for those hearing about it for the first time, Art Can Die is a decentralized autonomous organization (DAO) that uses the power of blockchain, decentralized finance (DeFi), tokenization, NFTs and cryptocurrencies. with the aim of helping artists obtain effective funding without losing their creative autonomy.
At the same time, the project also promises to offer a secure and efficient platform where art lovers, crypto enthusiasts and investors can invest in quality works of art.
We’re going to cover all of that, among other things, in this first Art Can Die review. Having said that, let’s first start by mentioning the specific problems that the project aims to solve.
The issues currently plaguing the art industry
Art is a multi-billion dollar industry today, and its total valuation can range from $50 billion to $800 billion, depending on what you consider art. It is undoubtedly one of the oldest industries in the world, and probably even predates most of the financial instruments we know today.
Despite its profound impact on human society, the art industry has been surprisingly slow to move with the times. It still works in an archaic way that leaves a lot to be desired, especially if you are not part of a small group at the top of the socioeconomic spectrum (read: elite circles).
Here are some of the issues currently affecting the mainstream art sector:
- This is a very illiquid sector.
- Access to the art market is in most cases limited to elite circles.
- Acquiring works of art is often a tedious and paper-intensive process.
- There is a large black market for art, which harms the interests of all law-abiding stakeholders, including artists, collectors and investors.
- Extremely high storage, transport and insurance costs.
- Vulnerability to theft.
- Vulnerability to manipulation and counterfeiting.
- Lack of standardization in pricing.
Art Can Die to the rescue
In summary, Art Can Die is a fully decentralized platform that aims to allow users from all walks of life to participate in the creation, funding and promotion of promising artistic projects. The absolute purpose of the platform is to ensure that:
- Artists can focus 100% on the creative part, while Art Can Die helps them manage the business side of their work (including promoting and selling their work).
- Artists, whether new or established, benefit from fully transparent and democratic access to a global pool of investors willing to invest in quality artistic projects.
- Reduce the entry barrier to investing in artistic projects. In this way, the project aims to open doors for the common cryptocurrency user, art lover as well as investor, so that they can all play a more instrumental role in a market that until now constitutes a playground almost exclusively reserved for an elite.
How does the project work?
As a decentralized autonomous organization, Art Can Die uses the process of tokenization to convert art into digital assets (NFT). This applies to all forms of art, from paintings and films to music and sculpture, to name a few. The DAO is also deploying its real estate solutions on the blockchain to offer a immutable certification ownership, storage and transfer of these digital assets without the use of a third party.
The combination of blockchain and tokenization thus guarantees the following:
- Artists retain full control over their content/creation.
- Users and investors retain full autonomy over their investments and transactions.
- The cost of transactions is significantly reduced.
- Transactions are secure and transparent. (It’s worth noting here that while blockchain provides transaction transparency, the Art Can Die team will make a few exceptions to better accommodate users who prefer some degree of anonymity).
These strengths then provide stakeholders with an ideal path to inject more cash within the art market, which is also very illiquid.
The Art Can Die community will also enjoy a host of additional benefits, including the ability to profit from the secondary market. In addition, the platform promises to regularly organize events where users can win significant rewards. Its users can also claim a share of the profits from the sale of outstanding works of art within the DAO.
Generally users who choose to bet $DIE token, the original asset of the Art Can Die project, in the DAO, will enjoy many additional benefits. You can find more information about this below.
The DIE token, the native currency of the Art Can Die ecosystem
The DIE token is a fundamentally deflationary asset given that its maximum supply has been limited to 21 million units. It exists on multiple chains, allowing it to run seamlessly on the Ethereum blockchain as well as the BSC.
In summary, $DIE is an access and governance token that allows its holders to participate in decision-making processes within the DAO. Its holders thus obtain two types of rights:
- Request rightswhich can be used to request the DAO to arrange special fundraising events.
- Right of consultationwhich allows the community to vote on the proposals submitted by the artistic director.
Holders will also be able to trade the token on secondary markets once it is listed on crypto exchanges, likely by the end of January 1. quarter 2022.
Depending on the amount of $DIE you own in the DAO, you will also be able to expand your influence by gradually participating in the management of other aspects of the Art Can Die ecosystem (such as the management of non-profit and $DIE) token pools).
The start of the public sale of the $DIE token
The presale of $DIE tokens ($0.20) was a huge success, raising $400,000 from over 2,000 registered users.
On February 2, the project launched its public sale of $DIE at $0.40 per token. The minimum investment amount is $100, with no vesting or lock-in period. A total of 7.35 million tokens will be offered for sale, including the 2 million tokens already sold during the presale.
The DIE Metaverse
Around the third quarter of 2022, the Art Can Die team will launch its own metaverse, the DIE Metaverse, to give the art community greater visibility in the growing metaverse industry.
While details on this are still pretty sparse, chances are that DIE Metaverse will focus on partnerships with art galleries, museums, auction houses, as well as other DAOs that share the same ideas.
Among other benefits, this project will provide artists with a host of new opportunities to market their work. For example, they will be able to organize their own virtual events within the metaverse and connect with other NFT creators and collectors. Most importantly, they will benefit from a much more secure system that guarantees the authenticity of original artwork, without the shipping, storage and insurance restrictions typically associated with physical art.
Some of the key elements that ultimately determine the longevity and profitability of a project include the skill of the team supporting it, the problems it seeks to solve, and the efficiency with which it is managed.
So far, Art Can Die seems to meet all three of these conditions. The project is led by a team that collectively exhibits a fairly balanced mix of expertise and experience in various relevant fields, including blockchain, cryptocurrency, AI, art and marketing, among others. You can learn more about the team on this page.
The project aims to solve real problems in the sector and which, if handled competently, could potentially revolutionize the creation and use of art, as well as investment in this area.
In terms of project execution, Art Can Die has so far managed to deliver on its roadmap, which is crucial for a project of this scale and ambition. The solution his team is proposing looks promising on paper, and its initial implementation has been largely successful so far. Considering all its elements, it is therefore one of the most promising next-generation platforms for the multi-billion dollar art market.
You can head over to this page to learn more about some of the most popular projects that have ever appeared within the Art Can Die ecosystem.
To learn more about The DAO and how it works, check out the project’s white paper here.
If you are convinced of the long-term potential of Art Can Die and are considering participating in the public sale of its $DIE token, all you have to do is go to their official website and click “Buy $DIE”.
All information on our website is published in good faith and for general information purposes only. Any action taken by the reader based on information found on our website is entirely at the reader’s own risk.