Buy Some Art on the Blockchain with Dada
That's a screenshot from a digital print that I own. It's pretty cool, and it comes from a site called Dada.
It's part of a growing category in crypto: digital art, ownership secured by the blockchain, and digital rights management and resale management that is pro-artist.
Dada is one of the cooler sites we've found so far, so we decided to take a closer look.
When I first found Dada online, I thought it was a little...well, edgy. Not insanely edgy or dark or underground - but just enough so that it piqued my interest. So I picked up some art for free* to get started.
- it's not really free, since you have to pay the "gwei," or a small fraction of ETH, to get your art and the rights to it.
I own rights to the piece, and it's a limited edition, secured by the blockchain, so the rights can be tracked - and I ended up actually scoring a Dada token with my purchase.
I'm discovering cool, up-and-coming artists, and supporting their work. So that's a plus for me - I can speculate on artists that might "take off" and become famous.
What's In It For The Artist?
Where Dada really might have this nailed, though, is in the whole concept of resale: it's the most pro-artist thing I've found out there.
Let's say, in theory, that I am an artist and I create a piece and it sells for 0.1 ETH (USD $38 or so as of today, April 2). I now have 70% of that figure (0.07) in commission. Let's call the purchaser "Bob."
A few months later, Bob decides he wants to sell the art - maybe I've become sorta popular as an artist, and now my work commands 1 ETH on the open market.
Bob's take from the sale is 0.6 ETH. Dada gets 0.1 ETH to handle the expenses...and I, the artist, get 0.3 ETH. Residuals in this theory could really take off, right? And if the art gets sold and resold down the road...well, there's really something to that for the artist.
Dada's expenses are covered, Bob gets a little bit from "betting" on an artist that ended up taking off.
Dada Presale and White Paper
They're doing a presale - its terms don't seem crazy, not like the "hey, let's get a couple billion!" Telegram ICO - and their white paper is straightforward. (You can read it here.)
I don't know about you, but this is certainly a concept that I'm rooting for.
BTW, more about me...
Hi, I'm Dave. My photo is below.
I'm the Managing Principal of Metacoin, and we do marketing and PR for blockchain and crypto companies. It's fun. Feel free to connect with me here, and/or on Twitter - @Area224 is my handle there - and/or on Facebook.