In this new series “Hybrid Product Ideas with Qliktag” we share some interesting ideas and examples of ordinary physical products and assets and address how their value can be enhanced by tokenizing and digitally augmenting them through the use of printed electronic tags.
Today, we look into art.
Physical art and fine art make an excellent candidate for tokenization & use of blockchain as well as secure authentication NFC tags. Art is personal, evocative and its perceived value in the eyes of the buyer is often enhanced by a wide variety of factors and attributes associated with the piece of art itself. Combining physical artwork with authentication NFC tags, blockchain / NFT tokens and digitally delivered features and experiences can elevate the perceived value of the art in the eyes of the buyer.
Let’s imagine a painting. It has a certain value and price it fetches as a result of the perceived value.
Now imagine the same artwork with a printed electronic / NFC tag embedded into an artwork so a user can access digital features on that particular unique painting.
The painting can be digitally augmented with:
- Digital authentication of the artwork through the use of secure, unclonable & verifiable NFC within the art which uses changing encrypted keys to ensure the authenticity of the art and reassure users it can not be cloned or falsified.
- An immutable record of ownership of this art on the blockchain by pairing the art with an NFT which can be verified by publicly but also can be used to authenticate physical custody of the art and unlock certain features and privileges exclusively to the verified owner in the physical presence of the artwork.
- Ability to easily sell or transfer ownership of the artwork digitally through online marketplaces or a digital wallet and facilitate physical delivery, receipt confirmation and other workflows.
- Custom smart contracts within the NFT which can allow for the original artists to receive a percentage royalties not just on the first sale, but in perpetuity and future sales.
- Personalized video of the artists speaking to the buyer with their own personal interpretation of the work, the inspiration and backstory behind the work and an insight into the creation of that art.
- Communication form through which the buyer / present owner of the artwork can directly communicate thoughts, emotions and their appreciation of the art directly to the artist via the physical art.
- Exclusive updates from the artists such as personal invites to future art shows, updates and previews of unreleased work in progress all delivered through the physical art and upon verification of ownership.
- Sounds or audio to accompany the visual art which can be activated through the tag embedded in the art.
The possibilities are endless. More importantly, the question to ask is whether digitally augmenting the art will make it more valuable to the buyer. How can I increase the value of my art by tokenizing it and digitally augmenting it with features that will appeal to my buyer?