Ethereum co-founder Joseph Lubin’s blockchain incubator ConsenSys Mesh unveiled the NFT platform TreeTrunk.io at the prestigious ETH Denver Developers Conference. Launched in beta on Polygon Mumbai Testnet, TreeTrunk is the first in the Ethereum ecosystem to introduce a new smart contract that instantly and securely collects and distributes loyalty payments from secondary sales of non-fungible tokens (NFTs). I did it on the blockchain. This eliminates the risk of a centralized platform failing to pay correctly or on time.
NFT smart contracts that pay loyalty to creators
A group of prominent NFT artists such as Ishita Banargy, Brandon Blow, Vimal Chandran, Crypto Jeweler, Palin Haydari, LA + CH, Logic, Sam Madu, Arabella Profer, Dilek Sezen, Carmilla Samantry. Will appear at launch. Each submitted one special artwork to support the kick-off of the innovative market. Early collectors can quickly test the purchase, sale, and digital print creation of these NFTs. These components will only work on the platform while the stability and scalability of the system has been tested. In a later release, collectors will be able to buy and sell them, and soon after, TreeTrunk will allow all artists to create their own NFT family.
Game changer for artists
For creatives, the business of promoting and selling art can be a game like a lonely tournament. Even with NFTs, artists tend to make little or no profit until they reach a certain level of popularity. TreeTrunk’s approach treats collection and fandom like a team sport. TreeTrunk smart contracts distribute royalty payments not only to a single creator, but also to collectors who create and sell approved digital “prints”. Print buyers can create new prints from NFTs until the number of generations set by the creator is reached. This allows artists to build a family tree-like network around their work and generate lasting passive income for themselves and their fans as the community grows.
A better business for artists, influencers and grassroots art lovers
“The Tree Trunk approach promises to build long-term financial strength for artists and other creators. It is an influencer that can hold 1st or 2nd generation NFTs and syndicate prints to community collectors. It provides influencers with powerful business opportunities. It provides financial inclusion by allowing people to buy their favorite artwork “NFT pedigree” at an affordable price, “said TreeTrunk CEO. John Walpert said.
To create certified digital prints that can prove their relationship to the original, the TreeTrunk team has developed what is called “cryptographic lithography” using zero-knowledge cryptography, inspired by traditional lithographic printing techniques. .. This technique allows the creator to shield the original (treat it like a plate in the lithographic printing process) and let people see, enjoy and sell the print. Each print is digitally unique and verifiable derived from the original plate, but it can also be verified that it is not the original used to create them.
“The TreeTrunk Method owns a physical work of art in the digital world and decides to display it in a museum without fear of creating and selling millions of unlicensed perfect replicas just by looking at it. The closest method is that the so-called “right clicker” isn’t the real thing, it’s just a copy of a known facsimile, “said Dr. Andreas Freund, CTO of TreeTrunk.
TreeTrunk’s approach, especially when combined with a new culture of assuming unsigned content as fake and excluding it, helps reduce the fraud and misappropriation issues that plague the NFT community. I promise.
Burning legal rights
IraP, a prominent technical attorney and co-founder of Tree Trunk. Rothken said: Unlike previous NFT standards, TreeTrunk embeds license agreements in the NFT metadata itself. With TreeTrunk, NFT collectors are better. Being informed about what rights they have, artists can more easily manage their intellectual property. “
Make money without having to sell your NFT
“Tree Trunk is a radically different way for artists to imagine NFT drops,” said renowned art collector Kent Chargandra. Traditionally, artists create one or more NFTs and sell them to generate income. Currently, the artist creates and holds the original NFT. Owning a top NFT is a way to earn passive income from the network as long as they manage the originals, make and distribute prints, and hold tokens. When they want to withdraw cash and transfer rights, they give the buyer a truly unique and exclusive asset (one that can be confident that it has never been copied even by the previous owner) and a continuous source of revenue. It can provide value to manage.
Your print is your pass: NFT Family Chat
The TreeTrunk NFT platform includes features such as chat channels that are only accessible to the current owner of the NFT in the artwork’s “family tree”. This gives owners exclusive access to each other, and all owners of the TreeTrunk NFT are a true part of the value that others can get from buying into their families.
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