Cryptocat scarcity index plug in code#

DADA.nyc provide a decentralized marketplace where you can buy limited-edition digital artworks with IP protection and proof of ownership. I did not really understand it until I purchased some digital art from DADA.nyc. If you are finding the concept of blockchain and artificial scarcity a little confusing, you are not alone.

Cryptocat scarcity index plug in code#

With blockchain, trust is established through mass collaboration and clever code in place of a powerful centralized institutions serving as middlemen. What you may not know is that in addition to currency, blockchain can be used for art and other intellectual property.

The Harvard Business Review describes it as 'an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.' If you are not familiar with blockchain, you may be familiar with the cryptocurrency Bitcoin which runs on a blockchain paradigm. Blockchain helps solve this for digital artists by introducing the idea of 'digital scarcity': issuing a limited number of copies and tying them back to unique blocks proving ownership.īlockchain is a fairly new technology platform that runs across millions of devices and is open to anyone. For things to be of value they need to have scarcity. Once something is copied and replicated for free, the value drops and the prospect of a market disappears. Blockchain and Digital Scarcity will Create a Massive Market for Digital Art and Crypto CollectiblesĪ big problem with producing and selling digital art is how easily it can be duplicated and pirated. How can one technology make such a huge impact across four seemingly different areas in the art market? Read on and I will do my best to explain. Creating a more ethical way of paying artists Improving provenance and reducing art forgeryĤ. Driving digital art sales through digital scarcityģ. There are at least four major areas where blockchain will disrupt the art market:ġ. Now that I understand it a bit better, I strongly suggest artists and art collectors take blockchain seriously and monitor the market. But it took me a few years and the purchase of a CryptoKitty for me to understand what blockchain is and why it matters to the art market.

I'm an art nerd from a family of tech nerds, so I am usually ahead of the curve on tech trends.