NFTs today have gained significant traction as a method of creating digital scarcity. The primary application of NFTs in the art community has been to mint underlying “deeds” that prove ownership to a
NFTs today have gained significant traction as a method of creating digital scarcity. The primary application of NFTs in the art community has been to mint underlying “deeds” that prove ownership to a limited edition of a piece of art. For example, sites like SuperRare will sell single edition artworks from artists like Beeple or Pak by minting an underlying NFT. Similarly to buying an actual Van Gogh painting as opposed to a print copy, purchasing a NFT is a proof of ownership and authenticity. It's an incredibly powerful concept, and it’s no surprise that it has gained rapid adoption. One unique piece of Beeple artwork on the Nifty Gateway marketplace sold for 6.6 million USD and another was auctioned at Christie’s, one of the world’s premier art auction houses, for over 69.3 million USD on March 11, 2021.
However, it still feels like there is something underwhelming to the current state of NFTs in art. Even if you have the NFT proving ownership, the actual underlying piece remains static. There is little that is tangible in the NFT that you can show to your non-crypto friends that changes their experience of the art from yours.
We see a future in which NFTs in the art realm are capable of so much more. Previous landmark NFT projects like CryptoKitties and CryptoPunks shared one major aspect in common: they transformed the perception of what was considered possible using Ethereum.
dCanvas is a project that pushes the boundaries of blockchain technology in the same way, by introducing direct user interaction with the art medium and community collaboration at unprecedented scale. We believe that as a result, dCanvas will leave a lasting legacy for its impact on the history of NFTs and art. Owners of dCanvas tokens will be able to point to a location on the board in a future commissioned art piece and identify their contribution to that legacy.