LiveArt, an art trade and analytics platform will soon unveil its LiveArt X Card, a non-fungible token (NFT) collection that allows holders access to unique curated art, token-gated communities, and artificial intelligence-powered art market data.
Former executives from Sotheby’s and Christie’s founded the platform, which offers users live auction streaming, peer-to-peer art trading, art pricing data, and market insights.
The LiveArt X Card incorporates Web3 into the art-collecting experience, granting holders access to its digital art market, free airdrops, exclusive access to LiveArt’s AI-generated artist insights, incentives in the form of their ART token, and VIP admission to real-world art events, among other benefits. The ART token, which powers the LiveArt ecosystem, may be used to purchase physical and digital artworks on the platform.
LiveArt has stated that the purpose of its NFT membership card is to discourage NFT flipping and speculation and instead encourage collectors to hold onto their art for a more extended period.
In a medium post, LiveArt wrote that the traditional art world has always understood how to protect long-term value, but the digital art world is still vulnerable to fraud and scams. The LiveArt X Card protects the new breed of digital collectors from these issues and provides them exclusive access to important digital artworks.
Beginning on April 4, the Ethereum-based collection will be available for pre-sale, with the general sale on April 5. There will be a total of 3,500 editions available.
In April of 2022, LiveArt released their LiveArt X NFT platform. Among the startup’s investors are Animoca Brands, Binance, KuCoin Labs, and others.
In the midst of an extended crypto winter, NFT marketplaces continue to compete for market share, resulting in a market that caters more to investors than art collectors or creators. In consequence, a number of platforms have introduced incentives for long-term collecting and refocused the discourse on NFTs as art. In November, NFT marketplace SuperRare introduced its subscription-like RarePass service, which airdrops monthly handpicked crypto art to its holders.