Blockchain
Third Place launched the world’s first NFT platform, Third Place NFT, on the Free TON blockchain
St. Petersburg’s cultural space Third Place launched the NFT platform Third Place NFT for real-world art objects. The platform is powered by the world’s most productive blockchain Free TON. Being part of the platform, artists and galleries will have the opportunity to tokenize their works, as well as to register and sell exclusive rights to their works.
Unlike the most popular crypto art NFT platforms, the Third Place NFT focuses on the projects related to real cultural objects – thus creating new mechanics for owning and monetizing art objects via NFT.
It is no secret that many NFT projects face a “garbage problem:” the NFT hype has caused a surge of works with no significant cultural value. The Third Place NFT platform offers an elegant solution to this problem – curatorship (supervision). The platform aims to launch its own tokens, holders of which will receive exclusive curatorial rights. Curators will be able to vote for submitted works, thereby highlighting truly valuable pieces of art. At the first stage, the tokens of Third Place will be distributed among the initiators – competent experts in the field of art. As the project develops, new participants will receive voting tokens as a reward for their activity.
In addition to standard development ways, Third Place plans to use the platform for special projects. The first and most ambitious of them will be creating a collective private gallery of classic art. Within the framework of this project, Third Place plans to search for art objects on the market and to verify their authenticity in partnership with major Russian museums.
Thanks to the NFT technology, the rights to use the found objects of art will be presented in the form of several thousand unique fragments – tokens. With tokens, members of the Third Place NFT platform will buy the rights to artworks piece by piece. The cost of each unique piece will depend on the size of the art object and its value. The cost will vary from USD 1,000 to 30,000.
According to the approved declaration, after the acquisition and import of art objects to Russia, the partner museum that took part in its selection will be able to obtain the rights to its long-term exposition for 3-5 years. After the exhibition period is over, all art objects will be exhibited at the Third Place gallery, and the token holders will have the right to visit it without restrictions.
Thus, thanks to the Third Place NFT platform, absolutely anyone can become an owner of the rights to artworks worth tens of millions of dollars. The masterpieces of Vincent Van Gogh, Pierre Auguste Renoir, Paul Gauguin and many others can be forever brought to Russia and beautify the walls of Russian museums and galleries.
“We plan to exhibit the cultural property acquired through NFT technology in public spaces. We are also searching for new art objects to purchase. In general, the list of paintings we are interested in has already been completely formed for the next year, and we are booking artworks and solving legal issues. Our ambitious goal for 2022 is purchasing 10 paintings of great masters (primarily the Impressionists) and importing them to Russia,” says Olga Zvagolskaya, the founder of Third Place.
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
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