ArtFi:UniArts’ Innovative Answer to Fine Art NFTs

Art has evolved from solely the strokes of brushes on a physical canvas to the digital strokes of the mouse, light pen, or cursor to create illustrations that speak great stories. This evolution has also created NFT art, a world that has intrigued people from all over the globe. At the forefront of this innovation is UniArts, an Exhibition and IDO platform for NFTs, where value is added to this realm. The opportunities that can be explored in NFT art are numerous with the coming of UniArts.

When the NFT art world was barely a few years old, most people thought that it would be restricted only to art lovers buying the NFTs that artists minted for their artworks.

UniArts came and showed the world that there is a lot more that can be achieved in the NFT art space. Art lovers could vote on NFT arts through the NFT voting incentives and DAO curation feature. Connoisseurs and collectors can search for NFTs using the UniScan functionality. It is also offering artworks NFT gaming features to better bond and connect fine art NFTs with the community. The ecosystem has developed its Substrate-based mainnet with EVM-based smart contracts to provide an infrastructure for NFTs.

UniArts Launching the Impossible Art Formula Gallery with ArtFi feature When blockchain enthusiasts think of financial activities in the space, their minds wander to decentralized finance activities limited to only staking, yield farming, and the likes. What if we told you that there was a novel blockchain finance realm called ArtFi. What is ArtFi? In a nutshell, it means decentralized applications and financing activities related to fine art NFTs.

NFTs especially those related to art have continued to grow in popularity with the likes of Beeples selling pieces worth millions of dollars. ArtFi combines the perks of NFTs with the opportunities that are linked to finance.

Fine Art NFT Voting & Reward

UniArts allows community members with UARTs to vote for any NFT artwork that they want on the platform. Voting benefits both the art lover and the artist because they are given new UART tokens at the end of the process. The process of voting is quite seamless and the voting page can be navigated by anyone.

It is disclosed below:

• On the voting page, click “View All Candidates” to skim thumbnails of all pieces in the gallery.

• Click “Vote” on your favorite NFTs to cast your vote:

• Click “Vote With Bonded”

• In your account screen, you can view your votes by selecting “My Votes.” Note that there will be a delay of up to 11 minutes for your vote to show up based on Polygon traffic.

• Enter desired quantity up to the maximum bonded balance. Click “Bonded” to cast your vote.

For each round, the total auction rewards are twice as much as total vote rewards. The amount a user gets is dependent on the number of people that voted for the NFT, how much it was auctioned for, and if they identified a dark horse NFT. Identifying a dark horse NFT comes with an incredible reward for the art lover.

The winner of the NFT auction can take out the UART and sell it, which means that the value of an NFT should not be lower than the value of the UART contained in it.

At the same time, you can stake UART tokens to bid for a curator position, which allows you to move your NFT from other platforms (like OpenSea) to UniArts. While on UniArts, these moved NFTs can be displayed and voted, while UARTs will be minted into curator’s (voted) NFTs.,

ART-VERSUS NFT Game

UniArts will start its card-based game in Q1 of 2022, named ART-VERSUS. The Fine Arts NFT sold in the gallery can be converted into the cards in the game. Every card’s strength is linked to the number of votes obtained by the NFT during the voting round. ART-VERSUS promises to have intriguing gameplay.

A great deal of the gameplay focuses on artworks developing some magical tendencies. The collectors of these artworks are transformed into wizards, allowing them to summon artworks to duel with each other.

Winners of the duels are rewarded with FAVOR, which bestows greater strength on their artworks. Those artworks that have won the hearts of the public are given a set of powerful magical abilities, unseen anywhere else.

Concept Design of ART-VERSUS.

NFT Mortgage Loans.

Another crucial aspect of the UniArts’ ArtFi ecosystem is the NFT mortgage loan system. There is an ongoing partnership with TribeOne that allows users to pay a 15% down payment to purchase NFTs in the AF gallery. The user can then transfer the NFTs once they pay the balance. This provides sufficient liquidity support for the purchase of NFTs. NFT loan is a new concept and novel feature that UniArts is incorporating into its innovative ecosystem.

NFT Mortgage Borrowing

Once an NFT is purchased, it can act as a collateral against the borrowing that the owner wants to make in other platforms. UniArts is partnering with DeCredit , a notable decentralized credit oracle system, as well as other leaders in the industry like NFT Bomb,and Konomi Network Decentralised money market on PolkaDot network.

Other features that will be available in the UniArts ecosystem are:

Vote Souvenirs NFTs:

Users that participate in voting sessions, comments on NFTs, like or dislike comments made by others can get the unique vote souvenir NFTs. This is a means of rewarding active participants in the community.

Website: https://uniarts.network

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store