NFT art gallery and decentralized museum in verse – Wired PR Lifestyle Story
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With NFTs being talked about in the village today, individuals and businesses are trying to be part of the movement, using the concept in their own way.
Malaysia-based global creative ecosystem, Image Group (Inmagine), NFT has added a new project to its portfolio.
Called Pixlr GenesisLaunches software and photo editing software suite Pixlr, Acquired by Inmagine in 2017.
The concept is to build a virtual and decentralized art gallery in metaverse that can work against the Louvre and the Museum of Modern Art (MoMA).
We talked to Warren Leow, CEO of Inmagine, about an ambitious project to better understand how it will achieve these goals.
First commissioning a community
Like most other NFT projects, the first step is to create an interested and passionate community around its goals by releasing NFT collections. Pixlr Genesis is in this phase.
Its initial collection consists of only 10,000 NFT pieces of art created by AI, and the first wave of 2,000 pieces went on sale on December 1, 2021, in exchange for 0.15 ETH (about 2,390 RM2 at the time of writing).
The remaining 8,000 pieces will go down in the next 24 months, and prices will rise in each subsequent wave.
Each Pixlr Genesis NFT will entitle holders to additional promotions and benefits, and serves as a limited slot to display a work of art in a decentralized art gallery.
Being virtual, the advantage is that anyone can see the art gallery from anywhere in the world. Being decentralized means that the Pixlr Genesis NFT ownership community (made up of the general public) can enhance the art of the gallery for the rest of the public.
When one is the owner, the art of their personal collection can be shared as desired, curated or auctioned.
When the owner puts a piece of their collection up for auction, Pixlr Genesis will receive 25% of the sale to reinvest in the secondary rights ecosystem.
Warren added that this means acquiring new art and building platforms to help new artists grow the Pixlr Genesis collection.
The art of AI?
Something about this project that struck me was that the first collection of NFT artwork was created via AI.
Pixlr provided Genesis with proprietary AI styles and classic and contemporary artist data sets. Van Gogh, Warhol, was inspired by Impressionism and Cubism by extrapolating elements of classical art to create his early collection.
But I thought the community presented NFT as a way to give artists more control and better performance over art, so why did they take AI in this aspect as well?
Warren clarified, “The art created by AI is just a new medium for expression based on a certain level of randomness and interpretation.”
“However, the key is to keep in mind that the arts created by AI here do not represent artists, but rather function as a utilitarian gateway for human artists to eventually exhibit their work in the museum.”
When the community starts creating their art, they can use Pixlr Mint, the tools that come with it, to make their own NFTs.
Warren was unable to provide a specific cost of gas rates, stating that network congestion and network selection would be subjective, but the seminar will try to provide multiple options.
Dictionary time: On most NFT trading platforms, users have to pay for the computing power required to process and validate blockchain transactions. These payments are known as gas quotas.
Protect yourself from fraud
As an unregulated sector, NFTs have seen a fair share of the problems as an example “Pull the rug” appearance.
There, an OpenSea artist from the NFT marketplace exchanged original images that collectors believed were being purchased after the sale was completed, simply to prove a point about the arbitrary value of the NFT.
Despite that risk, Pixlr Genesis will not play a role in controlling secondary sales, Warren clarified. Instead, he suggested, “With so many carpet pulls and scams out there, we encourage collectors to speak only where the origin of Pixlr Genesis is assured.”
“We’re not here to help verify third-party collections, but the origin of each Pixlr Genesis NFT is easily proven through our smart contracts,” he added.
Since Pixlr Genesis is being used as the backbone of Ethereum, every step of each transaction can be tracked using tools like Etherscan and can be publicly verified by anyone.
This alleviates some of the risks for collectors, but only to a limited extent. With Pixlr Genesis, which can give collectors peace of mind, however, there is a well-established company behind it all.
Thus, the collections and the points that are promised in the future have a greater legitimacy compared to an NFT project created by completely anonymous people.
That said, there are still 2 golden rules for practicing with NFTs or cryptocurrencies: do your research and don’t invest more than you can afford.
Featured Image Credit: Warren Leow, Inmagine
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