This cooperation will see the development of a virtual, NFT-based marketplace for the .ART community, offering artists the possibility to mint, buy, sell or exchange non-fungible tokens. Additional features powered by Wakatta will include on-chain auctions, NFT ownership certificates and incentives for artist collaborations. As part of this strategic partnership, the companies will also work on developing a virtual gallery to exhibit the most outstanding creations of .ART.
As the art world’s foremost digital domain, .ART was created to support a global artistic community, strengthen the digital identity of its members and help them generate value from art. The platform counts over 150,000 renowned artists, institutions and brands among its users, including the Louvre, the TATE museum, the Marina Abramovic Institute, and the Louis Vuitton Foundation.
"NFTs have become an undisputed feature of the art world. We're committed to furthering the potential of this technology and working hand in hand with creators to facilitate and support NFT collections and drops. Ever since the launch of .ART, we have been integrating various blockchain solutions and are thrilled to welcome Wakatta as one of our partners. Together, we will be able to open up access to easy-to-use and affordable blockchain-based solutions for artists who wish to enter the world NFTs, while streamlining the distribution and monetization process for those already in it", says Ulvi Kasimov, Founder of .ART Registry
On top of offering a high-efficiency and low-cost blockchain for the entertainment industry, Wakatta also pioneers new NFT concepts, bringing upgradable, time-limited and non-hashed NFTs to the market. This opens a new realm of possibilities for artists, who can build on top of digital artworks or assets without infringing on copyrights, intellectual property or ownership rights.
“Wakatta was designed with the primary goal of empowering artists and creators in the entertainment sphere. By joining forces with .ART we'll be able to bring the possibilities of blockchain to a thriving digital art community, giving it new tools to explore the boundaries of creativity, and enhance monetization and distribution capabilities. The tools that we develop are intuitive and easy to integrate, meaning that creators of all levels of proficiency can benefit from blockchain-powered features, enabling a fair environment across the art world.", said Alex Blagirev, Wakatta Co-founder & COO.
Wakatta was developed by Sensorium DLT, a division of Sensorium, to serve the needs of the entertainment industry through innovative NFT types and a set of growth-oriented business solutions.
Wakatta is an NFT-focused blockchain for the entertainment industry pioneering new types of non-fungible tokens: upgradable, time-limited, and non-hashed NFTs. From securing digital identities to facilitating creative collaborations, these tools unlock new possibilities for gaming, sports, fashion, art, and luxury companies. Wakatta is now working with top-tier partners to showcase the potential of its technology. The incentive testnet launch is scheduled for November 2021.
.ART is the fastest growing web address for the creative community. As its technical partner across the globe, .ART helps artists, galleries and other art-related projects establish memorable internet addresses. .ART enables creatives to protect their intellectual property and truly own their easy-to-find piece of internet real estate by providing a free and easy-to-use website builder, professional email addresses, downloadable art certificates, and a gateway to no-coding NFT minting. Back in 2019 .ART presented its Digital Twin product, which is now being further tailored towards the needs of the creative community.
.ART’s team is headquartered in London and led by venture investor and art collector Ulvi Kasimov, who has been featured by The Observer as one of the Top 50 Most Influential Leaders in the Art World 2020.