Dubai: On the second and final days of Web3DeCode, a two-day technical event hosted by Gulf News, participants and exhibitors were seen gathering around several booths at Grand Hyatt Dubai. ..
Participants watched the artist making paintings carefully, so other exhibitors also used virtual reality headsets and controllers to create a semi-realistic digital environment for visitors, such as a photo exhibition. I measured it and made it possible to virtually participate in a video game.
The event will host creators and artists who have exhibited their exclusive NFT collection through a dedicated dark room and theme-based activation, and French artist Alexander will turn the Rolls-Royce Phantom into a unique six-wheeled vehicle live at the event. Customize and create digital. NFT collection.
Industry experts and visitors discuss trending topics in technology-related issues, explore the future potential of NFTs, virtual or digital environments (metaverse), and what the Internet looks like in an era of digital dependence. It was all about understanding in my mind.
Introduction of NFT rental to Dubai
As creators continue to innovate NFT applications and formats, a dedicated community of collectors continues to grow around the world. We talked to some players in the universe to get insights into what triggered collectors to get NFTs.
“All past and present NFTs are based on owning a valuable NFT,” says Kibz Kim, producer of DAS, a South Korean-based company, introducing NFT rentals through the market. (DAS stands for Daily Art Story, a project set that redefines the NFT market because it goes beyond NFT ownership and branches into NFT co-ownership.)
“But through NFT subscriptions and a share-based model, we can provide the added value of relaxation and therapy, so it’s not just about owning an NFT, it’s about sharing this value with the community.”
Is NFT too expensive to buy?
Buying and collecting NFTs is certainly not cheap. Even the cheapest NFTs on popular projects aren’t for sale at prices close to the average person’s buying capacity. This is where NFT rental comes in.
NFT Rental: What are they?
Many NFTs come with some form of utility. This utility is almost always of market value. NFT owners may not always want or may not be able to use this utility. By lending NFTs, they can potentially generate passive income in their assets.
From the borrower’s or borrower’s point of view, NFT rentals are a cheap way to enjoy some utilities without having to pay hundreds or thousands of dollars to buy, such as access to member-only content provided by NFT. ..
Rolls-Royce Phantom Live Customization
The story of the event was about live customization of the Rolls-Royce Phantom. Not only was this made into a six-wheeled vehicle at the event, but a digital NFT was also created on the vehicle.
Customization is a collaboration between Christopher Quet, co-founder and CEO of virtual world builder OurVerse, Eric Favre, founder of EFAE, or Eric Favre Art Editions, a digital gallery of art that houses installations. is. From the artist.
“What we are doing is bringing physical artists with physical art into the digital age and opening them up to the Metaverse, NFT and NFT marketplaces,” explains Christopher Quet.
3D art has also become part of 2DNFT
NFTs were limited to digital art. The actual physical art is left behind, and when selling expensive physical art, it’s always one-on-one. It doesn’t help them get involved with the community. Therefore, by not only selling art, but also creating a series of NFTs and providing access to the physical artists who bring them to the Metaverse and NFT Marketplace. “
Quet explained that the current collaboration at the Web3 Decode event has brought in three different French artists for customization.
“There is one NFT for those who buy real-world physical art. This NFT is for credibility, ownership, and proof of detail whether it’s a limited edition that depends on the art. We create digital assets or collectibles, or NFTs, most of them in 3D, and our platform brings 3D and physics together. “
Bringing abstract art into the digital NFT era
Saudi Arabian artist Abdullah Kandir creates abstract paintings and transforms his paintings into NFTs. Collectors or buyers who now own NFTs will also get the original of their paintings.
“In order to grow, we need to have as many solid and reliable partners as possible, which also shows our desire to build a community,” says Kandir, who portrayed live in front of a gathered audience. I did.
“I’m not as interested in selling as I’m interested in building a community. That’s why I’m here to prove my presence as an artist. Because we’re in the digital revolution right now. It is important to remember the most formal type of paint, the basics of oil. Abstract expressionism is a new way of communicating the basics. “
Bold use of color, abstract expressionism
“By boldly using lines and colors, Kandir demonstrates the fusion of Saudi traditional norms with the radically changing cultural landscape of the Arab world,” said Dubai-based art consultant Art | Kōrero. Founder Chimere Cisse explained. “As a provocative, he invites dialogue and incites.”
At the Web3 Decode event, in partnership with Gulf News and Art | Kōrero, the artist will showcase six works of art created this year: “This really adds a different type of element to this digital world,” Cisse said. Added.
“It’s an exhibition of physical art, so I think it’s somehow bridging the length between digital and physical. The reaction to art is great and I’m honored to be working with this first exhibition. “
DAO: Middle East’s largest Web3 community
Another booth that was talked about at the Web3 Decode Technology Convention was owned by Arts DAO (Decentralized Autonomous Organization), the largest Web3 community in the Middle East.
Its co-founders Anas Bhurtun and Rahim Mahtab have unveiled how the platform connects artists, collectors, builders and entrepreneurs.
“Our goal is to draw more people into the Web3 space while pioneering the next stage of the Internet together. This is what’s happening in the region and participating in Web3 NFTs. Given that there are less than a million people around the world, it’s a great place to look at a more collaborative approach. “