Unlockd, the protocol that allows you to maximize the performance of your NFTs with advantages for NFT-backed instant loan holders, is pleased to announce its new partnership with ArteX, a global community of artist and collector-driven Web3 artworks.
The original intention of ArteX is to break the existing centralized valuation system and use a decentralized approach to redefine the value of works of art. That is, using the public consensus on the aesthetic preferences of works of art to determine the value of works of art: a work liked by the majority should have a higher market value and price.
ArteX strives to redefine the value of the arts through Web3 technology and bring the investment value of the arts to all creators and art lovers around the world.
ArteX implements HeartBeat voting system to choose the community’s favorite artworks and token reward systems for their contribution to the aesthetic consensus of the community. Users would get rewarding tokens when they vote, invest, list, and collect NFT artworks.
At Unlockd, our mission is to unlock all the liquidity and utility of the digital asset economy. In addition to GameFi players, we seek to support emerging artists from around the world who may not have the opportunity to excel in the traditional art market.
Our lending and borrowing marketplace allows DeFi, art, real-world, and gaming users to enjoy additional liquidity while holding their NFTs with instant, secure, NFT-backed borrowing.
With this partnership, ArteX users will improve the efficiency of their portfolio, preserve the capital and maintain liquidity to invest in new opportunities or cover unexpected expenses without selling any of their NFTs.
Redefine the value of Arts through NFT Loans
The worth of art is traditionally determined by centralized factors, such as institutions, media, market value, etc., in addition to the artist and the piece itself. NFT now offers a fresh market for these works of art, not just from an aesthetic standpoint but also in terms of new art collectors and investment strategies.
However, investing in art NFTs is a highly volatile and often times iliquid strategy. Making investment selections is challenging since floor pricing and trading records alone cannot give a complete and accurate picture of the acceptance and prospective worth of an NFT artwork.
ArteX’s new NFT artwork evaluation mechanism is very interesting and worth. To unleash the true potential of NFT loans, each one needs to be valued independently. We all know that rarity or history makes the prices of NFTs collections vary. For that reason, the NFT price assessment in Unlockd is performed externally by world-class appraisal partners that use Machine Learning to price individually each collateral, without using floor prices. We use multiple sources of data blended into our own models.
ArteX’s support to artists includes, but is not limited to media promotion, participation in offline exhibitions, and assistance in establishing their own fan base for theme exchanges, etc. Unlockd will help ArteX to access capital in a secure environment to reinvest the proceeds in the community. They can also take advantage of our +70,000-member community to reach more collectors.
One of the most revolutionary aspects of Web3 is the ease it gives us to collaborate. With this partnership, the goal of both Unlockd and ArteX is to implement rewarding mechanics and allow users to develop the habit of investing in art.
ArteX has a very ambitious roadmap and an impressive set of over 40 partners like NFTrade, Tuda and Pinksale. They have focused on security and were recently audited by Certik, at Unlockd we share this commitment to build a secure and safe platform, and openly communicate the results of the audit conducted by Halborn with our community.
Introduction of StarryNight NFT collection
StarryNight is a premium NFT project incubated by ArteX, aiming to pay tribute to artists and works of art.
They selected 100 figures from the classic artists in history and their works, made secondary creations in the form of hand-painted oil paintings, and then further extended the creation based on the background, stories, elements, etc. of these 100 figures, and completed the project with 8,888 NFT works. The StarryNight NFT collection is made entirely by hand rather than generative art.
As a special pass card for VIP users in the ArteX community, it will be given to some of their certified artists and cooperative projects and individuals in the early stage. It will also be applicable in the future for public sales.
About Unlockd
Unlockd is the decentralized cross-chain protocol that provides democratized NFT liquidity and utility for Gaming, Art, Metaverse, and DeFi digital assets.
Unlockd provides instant NFT-backed loans and enables seamless cross-chain borrowing and lending. With Unlockd, borrowers can maximize the return on their NFTs keeping the utility of their collateral, and lenders can earn high yields providing liquidity to our pools.
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About ArteX
ArteX is a global Web3 artwork community powered by artists and collectors. The original intention is to break the existing centralized valuation system and use a decentralized approach to redefine the value of works of art.
ArteX strives to redefine the value of the Arts through Web3 technology and bring the investment value of the Arts to all creators and art lovers around the world.
