Artists Deserve More
Rare Art Registry Exchange (R.A.R.E.) introduces scarcity, proof-of-ownership, and permanence to the world of digital art and the blockchain. R.A.R.E. is different than other artwork selling platforms, in that other platforms just simply sell pieces of artwork, and R.A.R.E. functions as more of an auction, which has the potential to earn more cryptocurrency in comparison to flat purchases at a set price.
How does it Work?
- First, artists create their digital art file(s).
- Second, the artist will upload their created digital art file to a R.A.R.E. Auctioneer. The upload will contain the desired quantity, the title of the artwork, along with the description. This file is then uploaded, the respective tokens of their work are created, and the artist can begin the selling process.
- Potential collectors can bid on the uploaded artwork, or choose to buy it at its buyout price. The collectors would use either RARE tokens to purchase the artwork. These transactions are all handled by the Ethereum smart contract network, which makes way for trustless transactions of these assets. These collectibles are stored in the Ethereum wallet until they are used at any time.
- The RARE Registry and private galleries are kept in check by the curators, while incentivizing the community to deal with spam and fraud through monetary reimbursement.
How are the Tokens used?
- The collectors purchase or bid on the digital artwork that is being issued by the auctioneers. The Art tokens are kept in the Ethereum wallet of the collector, which can then be traded with other collectors.
- Gallerists curate the RARE Assets collection, where the artists can give payments in exchange for promoting the work of the artist.
- The auctioneers are partnered with the artists in order for the artists to get issued the Art tokens for their artwork. For all the commissions, the auctioneer promotes and tokenizes the artwork.
- The Rare Registry stores all of the certified RARE assets, where the artists make a deposit of RARE tokens to submit their artwork. People that have RARE Token receive voting power, and additional rewards are given to people to weed out the fraud and spam bots.
How can it Change the Industry?
The R.A.R.E. Digital Art Network is a marketplace that is based on the blockchain meant for artists to be able to monetize their digital copies of their artwork. The starving artist dialogue should be discontinued, and these artists deserve to create based on their terms and not be restricted by the constraints of a paycheck. If artists end up making more money, then the world as a collective will produce more artwork for people to see, enjoy, and buy.
The blockchain in general is meant to serve as a platform for artists to reliably have their products sold for profit and sustain their given lifestyle doing what they enjoy. The RareArt platform is slightly different in that it offers both a buyout option and an auction, so that interested customers that do not agree with the given price can come to an optimal compromise.