Yumi.ioa fully on-chain non-fungible token (NFT) marketplace, has confirmed the sale of Julian Opie‘s “Suzanne Walking in Leather Skirt 3” in the form of individual pieces of NFTs. The sale was made possible through leveraged financing ORIGYN Foundations certification platform. It enables artists to generate a digital certificate of their physical artworks for authenticity, provenance and preservation.
Each fraction of the work by Julian Opie is linked to a specific part of the physical object, meaning that the NFT holders become co-owners of the artwork. The buyers are now entitled to ownership and management rights within a decentralized autonomous organization (DOA). It makes decisions about the management and care of the piece. This is a significant leap in the world of NFTs and the wider artistic sphere.
Make NFTs accessible to all collectors
With the newfound utility of NFTs to fractionalize such pieces, this alternative asset class is now within reach for collectors of all stripes.
On this occasion, Melissa SongHead of Growth for Yumi NFT Market, said:
“We believe that the quick sale – less than three weeks – and reaching the target value of $150,000 is a major advance in the NFT world. This is indicative of the growing appetite among art collectors and enthusiasts to own, control and manage their personal pieces.
“One of Yumi’s core focus areas is to help empower creators and collectors alike. We want to help them participate in arts culture and contribute to the wider arts economy in a safe and secure environment. We are proud to leverage the IC’s scalability and transparency to realize our vision for the future of NFTs.”
Built on Dfinity Foundation’s Internet Desktop
Yumi.io is a chain marketplace built on Dfinity Foundations Internet Computer (IC), the public blockchain that offers end-to-end decentralization and uses no centralized cloud nodes. It is manipulable and can host small social networks to large enterprise systems. All the while, it gives its users full control over their own data and reduces the possibility of theft or breaches.
The IC also allows Yumi to strike for free and create transactions cost-free. It further confirms the market’s commitment to putting artists first.
Dominic Williamsfounder and chief scientist of the Dfinity Foundation, added:
“At Dfinity, we are committed to improving the reach of today’s blockchain ecosystem and increasing its usability across all sectors. We worked closely with Yumi to bring their innovative vision to life. Together we create a seamless and private marketplace. There, artists can broaden their work’s impact through NFTs and buyers can experience a secure, democratized and incredibly efficient system.
“We look forward to continuing our partnership with Yumi to ensure that everyone can participate in the art economy. All the while, with their personal and financial information safe and protected.”
One for everyone
Founded in 2021, Yumi is a fully decentralized Web3 marketplace for NFTs and digital goods. Its purpose is to provide a low-cost NFT marketplace for creators and collectors. It recognizes the need for low fees to make it easy for collectors to discover and purchase unique works of art. Yumi is committed to keeping the platform free for creators and charging low commissions. In turn, this facilitates a pleasant user experience for artists and collectors.