Blockchain is finding its feet in the art industry. In a press release, Swisscom AG announced the integration of the app “NOOW” exclusively on Swisscom TV (UHD-ready TV-Box from Swisscom) and will include 100 works by 30 international artists – selected by curator Stefanie Marlene Wenger.
“This is about more than creating a virtual gallery; the next step will be to include curated exhibitions on the platform and close collaboration with galleries.”
The parent company, dloop Ltd, is a start-up which was created as a spin-off from Swisscom’s internal innovation program “Kickbox”.
Features of the offering
- A blockchain-based system in the background guarantees the ownership rights for buyers and payment for artists. The owner receives a certificate of authenticity and knows how many copies of work exists.
- NOOW uses ERC 721 smart contracts, which are based on the Ethereum blockchain technology, to certify its works of art.
- Tokenized edition of artwork
- Owners will have Source file ownership with the right to resell. The digital certificates of authenticity can be transferred easily by buyers and artists to new users.
As per Swisscomm, ”Screens are increasingly used for digital art in hotels, restaurants, offices and private spaces. Changing sequences or animations create a unique ambiance – a moving form of art. Yet a lack of copy protection systems and distribution platforms means that these works are often used illegally.” NOOW solves the problem.
Swisscomm holds a market share of 33% for TV telecommunication in Switzerland.