Hello，CryptoArt.Ai V2

Start with earning from the platform，CryptoArt.Ai V2 will open a“NFT+DAO”Garden of Eden.

We are pleased to announce that on 11 November at 16:00 (UTC +8) CryptoArt.Ai V2 will be available to the public! Thank you all for waiting and for coming along to witness this important moment for CryptoArt.Ai.

The new version brings you 5 new features.

· Comprehensive UI upgrade

· 24H Auction（Invitation system）

· Bid To Earn

· Share To Earn

· Create a split

Sensory upgrade: new visual impact

The new V2 version has a completely revamped UI design, bringing a visual and experiential upgrade.

In the new V2 version, CryptoArt.Ai is designed in “fluidity and simplicity”, adding a meta universe touch to the classic “black and white” colour. This upgrades reflects CryptoArt.Ai’s goal in being inclusive, international and high-dimensional.

Reviewing the development of cryptoart, from the community-driven contextual layer opened by Loot to the emerging commercial art represented by Art Blocks, CryptoPunks and others, we gradually realise: the beauty of NFT art is the inspiration for Web3 and the sense of belonging to the Metaverse. If NFT is a long journey, then the visual is the landscape along the shore that will reflect the endless fascination and diverse future. As a gallery of NFT encrypted artworks at the forefront of the times, CryptoArt.Ai team believe in the values and practice the values.

DAO：A new governance model

In April 2016, DAO is born as the world’s first attempt at a DAO governance model; Gitcoin, known as the arsenal of ethereum, was a relatively early incentive platform to use DAO governance, demonstrates of the vibrant DAO autonomy of the moment; the DAO’s new concept of “mystery brought about by the unknown” is expanding at light speed with the development of decentralisation.

In the spirit of decentralised freedom and democracy, and based on extensive community input, we will adopt the DAO model of governance. We are now experimenting with the Internet and crypto-native structures to decentralise governance and ownership and give more people the opportunity to participate.

In CryptoArt.Ai’s DAO governance model, we are decentralising, and encouraging more talented and qualified people in community management to enter our community and participate in the future decisions of CryptoArt.Ai. CA will remain vibrant, open and pioneer. Guided by the macro trend Web3 and the Metaverse., we firmly believe that the NFT+DAO collaboration model will open up future identity gaps and inspire more potential NFT forces to continue the prosperity of NFT.

Auction in progress: a multi-layered structure to build dreams

V2 is an updated version of V1, which maximises the initiative of the artist and collector, and defines the new rights of NFT circulation.

In terms of product, the V2 version has been upgraded to include a “24H Auction”, “direct bid” and “invitation to bid” model for artists and collectors to choose from. In particular, the new “24 Hour Countdown” features two new bonus models, “Share To Bid” and “Bid To Earn”, and in the economic model The new “Share To Bid” and “Bid To Earn” reward models add native value to NFTs, gathering liquidity from buyers and sellers, and bidding on difficult-to-price NFT assets to stimulate consistency throughout the auction.Among them, Bid To Earn and Share To Earn are the most distinctive new auction methods in the 24H Auction!

24H Auction（Invitation system）

The 24H Auction is only activated when the bidder’s price is higher than the reserve price set by the artist (prerequisite: the artist needs to select the 24H Auction at the start of the upload). Once the 24H Auction has been activated, that NFT will end the auction within a set time to the highest bidder.The current 24H Auction adopts an invitation system, and we will issue invitations to specific artists.

As an essential part of the selling system, the 24H Auction provides a way to aggregate liquidity and set prices in an uncertain value environment, an ideal mechanism to bring together interested buyers in a short period of time and set a value benchmark for a new asset class.

Compared to V1, the V2 version has made significant improvements in commission sharing and Gas fee payment.

In the first round of sales, the percentage of rewards for bidders and invitees has been expanded to 5% and 1% respectively. This is the first time CryptoArt.Ai V2 experiment under the governance model of DAO, and we try to increase the volume and number of bids in auctions from the sales channel, so as to activate on-chain transactions and promote secondary auctions.

24H Auction exclusive: Bid To Earn, Share To Earn

A radical and innovative change has also been made to the auction format and participation. Bidders are no longer single individuals, but joint participants under DAO autonomy. In order to stimulate the DAO model of NFT auctions and the true value of NFT works, CryptoArt.Ai has launched a radical experiment for NFT collectors worldwide.

In 24H Auction, the latter earns a 5% bonus on the difference between the previous person’s bid. For example, if the price of the NFT work is 0.2ETH, and the first bidder A successfully bids 1ETH, then A can get (1–0.2)X5%=0.04ETH reward; Then the second person B succeeds in bidding 3ETH, B will receive a bonus of (3–1)x5%=0.1ETH, meanwhile A’s bid of “1ETH” will be returned to his account. However, A’s account will still have a bonus of 0.04ETH. If a subsequent bid exceeds B’s bid by 3ETH, then B’s bid of “3ETH” will be returned to his personal account and B will have the 0.1ETH bonus from his previous bid.

Share To Earn

CryptoArt.Ai V2 is aiming to provide more channels for users to participate and share. On the NFT artwork for sale page, users can share outstanding NFT artwork via Twitter, Discord, Instagram and many other social. If a link is shared and the work is successfully auctioned, the shareholder will receive 1% of the auction value. When the “Share To Earn” reward reaches a certain amount, the user can transfer it directly to their personal wallet.

Classical bidding modes: ‘Buy now’ and ‘Make an offer’

V2 retains the V1 style of ‘Buy now’ and ‘Make an offer’. In ‘Buy now’, the price of an NFT is fixed and the user can choose to buy the NFT , while in ‘Make an offer’, the user can bid below the artist’s reserve price and the artist can choose to accept or reject the bid.

As a vertical platform for NFT, the ‘Buy now’ and ‘Make an offer’ bidding models are highly compatible with the product market, and caters to the diverse needs of the market. We look forward to transactions on the chain, and thus promote an orderly circulation of the entire NFT.

Artist sharing model: Create a split

A single tree does not make a forest. In CryptoArt.Ai V2, considering that many of the best NFT works are the result of joint creation, a series of border-less creation components are provided for artists, and a “Create a split” is added. collaboration possibilities. When an NFT work is successfully auctioned and re-sold, the commission will be distributed according to a set percentage on the blockchain.

We encourage multiple artists to collaborate and combine their efforts to create amazing NFT works. At the same time, we will also integrate the resources of multiple artists, auction houses and art galleries, and invite renowned IPs to join us in creating diverse and diversified NFT crypto artworks, in order to stimulate the market more and create a “Renaissance” of cryptoart.

Future Plans

On 16 September 2020, the first NFT artwork is successfully cast on CryptoArt.

On 22 December 2020, CryptoArt.Ai and NOVA jointly held the “Art Should Follow the Times” NFT crypto art auction with a perfect closing of 169 ETH, becoming the first commercial auction in the history of China crypto art with a total over one million RMB.

On 23 July 2021, CryptoArt.Ai provided NFT technical support for the integrated auction of Yayoi Kusama’s “Infinite Net”, becoming the first case of NFT empowering physical artworks worldwide.

On 8 November 2021, CryptoArt.Ai entered into a partnership with Mask Network, officially launching the Web3, metaverse journey!

CryptoArt.Ai has successfully gathered 948 artists, including PAK, the world’s first crypto artist to be auctioned for over a million dollars; Andreas, a Russian surrealist artist who was successfully featured in Time Business magazine; Ouchhh, a globally renowned creative new media studio; GGAC, a top CG community in China; Song Ting, a well-known Chinese crypto artist and other outstanding artists.

As exciting as the past year has been, it is only the beginning. In the future, CryptoArt.Ai will start new collaborative ventures with many overseas IP and renowned artists, and will be open and inclusive, giving all-round support to emerging artists and new ways of art. In addition, CryptoArt.Ai will continue to cultivate the Web3 field, reaching cooperation intentions with social and metaverse projects, continuously expanding the NFT ecological map and chaining Web 3.0 windows for tens of thousands of users.

Under the governance of DAO, each participant is a decision maker and contributor to the CryptoArt.Ai V2 will open the window for NFT cryptoart sales and attempts to make modern art universal, becoming the leader of the new generation of NFT auction boom.

Welcome to the world of CryptoArt.Ai V2 and you will decide the foreseeing future.