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Art Blocks launches creator-friendly NFT marketplace
There is a strong stance on the royalty debate. Art Blocks launched a secondary marketplace with enforced royalties, billed as “creator-friendly”.
What is Art Blocks’ secondary marketplace?
Since its launch in November 2020, the generative art NFT platform has generated more than $1.4 billion in secondary market sales, all on external markets such as Opensea. It will now offer an official secondary market, integrated into the existing platform.
Art Blocks bills itself as “creator friendly,” and will not charge any platform fees for secondary trades that occur via the new secondary marketplace. The creator’s royalty settings specified by the artists will also be fully respected. Erick “Snowfro” Calderon, the founder and CEO, has defended royalties for creators in the NFT world on many occasions.
In addition, the new secondary marketplace will offer artists the opportunity to showcase their work after the mint. According to Art Blocks executives, many of them requested the ability to share their work without pointing to a broad NFT marketplace like OpenSea.
What can we find on the platform?
Art Blocks is a platform dedicated to generative art on the blockchain. Artists can create and distribute custom-designed algorithms on the Ethereum blockchain. By doing so, they can generate unique generative works of art. Some of the most famous projects include “Chromie Squiggles” by Erick Calderon, “Ringers” by Dmitri Cherniak and “Fidenza” by Tyler Hobbs.
With its secondary marketplace, Art Blocks aims to put more power in the hands of creators. It is also looking to reward collectors in some way in the future. Still, the company said it won’t follow other marketplaces like Blur in launching its token.
Also, this update will provide more security to artists and collectors on the platform. Artwork sold on the secondary marketplace will be authenticated. Finally, collectors want the certainty of paying the most reasonable prices. Art Block’s secondary marketplace will aggregate all the listings on the various secondary platforms such as Blur or Opensea.
