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.ART Domain Registry Launches Web3 Protocol for Naming, Trading, Verification and Tokenization of Global Art
Wednesday, November 2, 2022
Holders of .ART DNS and ENS domains to receive an airdrop of .ART tokens
WASHINGTON, Oct. 25, 2022 /PRNewswire/ -- .ART Group today announced the launch of Protocol.art, a Web3 infrastructure for the community of creators and art collectors. The rollout begins with the integration of Ethereum Name Service (ENS), allowing members of the .ART community to go beyond their standard DNS domain and streamline their digital identity to the Web3 space. These one-of-a-kind domains can be minted as NFTs to hold or trade on the open market. With Protocol.art, even existing .art web domains can be used on Ethereum.
"...we are beginning the process of building a world art heritage ledger on the blockchain."The second phase of Protocol.art will focus on the distribution of governance tokens to DNS and ENS holders. The governance is centred around a voting-based system drawing heavily from the DAO model. The ecosystem will be governed by two sides: elected art institutions, councils, and universities, as well as crypto companies. Accredited museums, appraisers and distinguished community members in the governance ecosystem are paramount for building the next generation of tools for onboarding cultural objects onto the blockchain.
"With the integration of Web3 technology into our domain registry, we are beginning the process of building a world art heritage ledger on the blockchain. With Web3 being the inevitable future that we are striving to bring closer to the art market, the ledger will bring added value to art by creating traceable digital assets and telling stories that can't be seen by simply looking at artworks," said .ART founder, Ulvi Kasimov. "When we tokenize more cultural objects, we reduce the gap between blue chip art and collectors around the globe, making it collectible, tradable, displayable, and reliable to trade."
About .ART
.ART is the internet domain for the world's art and creative community. Launched under an exclusive agreement between UK Creative Ideas Ltd and ICANN in 2016, .ART is one of the fastest growing top-level domains for creatives, with more than 220,000 domains registered to date. In 2019, .ART launched "Digital Twin" to securely archive art and cultural object metadata. .ART's global team across London, Beijing, Los Angeles, and Washington D.C. shares the mission to bring technology and art together, creating a digital infrastructure for the international creative community. For more information, visit www.art.art.
View original content:https://www.prnewswire.com/news-releases/art-domain-registry-launches-web3-protocol-for-naming-trading-verification-and-tokenization-of-global-art-301658485.html
SOURCE .ART
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