https://reddit.com/link/m64lzn/video/gpd4i6rgtcn61/player
Dear Collectors,
We are excited to announce Inter-Planetary Cosmos project. Blockchain isn’t just a revolution of technology, blockchain is the evolution of technology. As world is evolving, we are evolving too. Inter-Planetary Cosmos is the new way of distributing high volume art into collectors, museums or individuals.
In traditional galleries, unique expensive art comes with it’s own documentation (previous owners, history etc). Inter-Planetary Cosmos is decentralised, meaning that no-one can fake the records of ownership.All the collections of art is powered by smart contracts (computer programs, which is intended to automatically executes, control or document legally relevant events and actions according to the terms of a contract or an agreementand) that lives on the Ethereum blockchain.
Every individual artwork is a special cryptographically-generated token according to the ERC-721 standard. Basically, every artwork is represented by the smart contracts and has the ability to store names, descriptions and artributes. The artworks are been followed by their history of ownership thats publically available into the public ledger. So everyone and every time can track the previous owners, the trasaction history and the price offers of the artworks.
We are ateam of crypto enthusiasts, developers, artists and engineers. We want to spread the decentralized market across the art industry. Inter-Planetary Cosmos is a virtual gallery for rare digital art. The new way of distributing art into the new evolutionary world of Blockchain technology.
Our vision for the project is a modern, surreal and futuristic gallery with all the metadata on chain.
How it works.
Non-fungible token is a special cryptographically-generated token that uses blockchain technology to link with a unique digital asset that cannot be replicated.
Non-fungible tokens are different from popular cryptocurrencies such as Ether (ETH), Bitcoin (BTC), which are fungible.
For example, you can exchange one Bitcoin for any other Bitcoin.
Although the usage of NFTs has spread in various industries, they’re synonymously associated with the gaming and digital collectibles sectors and are most commonly found as a specific Ethereum token built on the ERC-721 standard.
Characteristics of Non-Fungible Tokens.
- Rare — The value of NFTs comes from their scarcity. Although NFT developers can create any amount of non-fungible tokens, they often limit the tokens to increase rarity.
- Indivisible — Although not set in stone, most non-fungible tokens are indivisible into smaller units. You either purchase the entire amount of, say, a digital art piece, or purchase no art at all.
- Unique — This is perhaps the most significant characteristic of them all. NFTs have a permanent information tab that records their uniqueness. Think of this information as a certificate of authenticity.
Advantages of NFTs.
Non-fungible tokens bring a new dimension to digital interactions. The three leading advantages of NFTs are:
- They’re transferable — Unlike exchange-traded fungible tokens, NFTs are bought or sold on special marketplaces. However, their value depends on their uniqueness.
- They’re authentic — Blockchain technology powers non-fungible tokens. Therefore, you know that your NFT is genuine, since it’s nearly impossible to create counterfeits with a decentralized immutable ledger.
- They preserve ownership rights — Again, this refers to an NFT’s use of decentralized platforms where no owner can alter the data once committed.
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