AMA RECAP : CRYPTO MALLU CLUB x CRYPTOART.AI
Venue : @CryptoMalluClub
Date : 19th November 2021
Time : 1 PM UTC
GUEST : Freya Fu | CRYPTOART.AI
SEGMENT 1 : INTRODUCTION SEGMENT
VMC BOSE | CRYPTO MALLU CLUB
Q1： Non-fungible tokens (NFT) seem to have exploded recently. From the perspective of CryptoArt.Ai, why can NFT develop so fast in various fields?
Freya Fu | CRYPTOART.AI
Before we start our AMA today I would like to invite you all to take a look to our website. If you want you also can register it.https://cryptoart.ai/
NFTs are igniting a digital art explosion, it has become one of the most popular subdivisions in the entire cryptocurrency world. The performance of NFT encrypted art market indicates that it is about to rapidly growth in a short time.
NFT has many advantages, such as artists can monetize their digital art; create verifiable game items while playing games; create a new digital collection ecology; and turn real-world assets into tokens to enhance their mobility. Thanks to the easy transferability and proof of ownership, NFT NFT undoubtedly provided a wide range of possibilities for real world and virtual assets.
From the perspective of sub-fields of encryption art, the integration of blockchain technology and art has shown obvious vitality and room for growth. Many artists from several influential countries outside have joined Cryptoart.Ai.
The fusion of blockchain technology and art has demonstrated a clear vitality and scope for growth from the viewpoint of the sub-field of crypto art alone. In conventional physical art, a parallel universe has been added. There are actually many artists from several influential countries in the outside world who joined the CryptoArt.Ai.
NFT not only disintermediate art sales, it solves the contradiction between the diffusion and possession of art, but can also communicate between artists and buyers in a way that conforms significantly to young people’s psychology and also preserves artists’ copyrights. Second, equity is better suited than tangible artworks to reproduction, dissemination, and circulation.
VMC BOSE | CRYPTO MALLU CLUB
Q2) Director and artist from Marvels “Future War”, and Huawei have boarded on CryptoArt.Ai. Do you think it will drive a large number of users outside of cryptocurrency?
Freya Fu | CRYPTOART.AI
The presence of such well-known artists on NFT platform is of great value in attracting the attention of users outside of cryptocurrency, but in fact, I think it may not be as significant as people may imagined for the development of the NFT market. Because there is threshold for art collection and it is still a niche market. Moreover, the vast majority of NFT investments and transactions require cryptocurrency as medium. This technical threshold has blocked the pace of most outside investors. All in all, NFT is a very cool idea while not mature yet. To really develop NFT into next stage, more valuable and more useful practical application scenarios need to be discovered.
VMC BOSE | CRYPTO MALLU CLUB
Q3) From the perspective of CryptoArt.Ai, what unique advantages and value does NFT have?
Freya Fu | CRYPTOART.AI
Most assets and objects in the real world are non-fungible, and they are unique, independent and private to their owners. Only money and some other commodities are fungible. Whether we talk about artworks, real estate or in-game assets, the most popular assets are non-fungible assets.
NFT represents a unique item, such as digital artwork, virtual game items, rare collectibles, or other digital or physical assets. People have developed various types of cryptocurrencies and Dapps to meet the needs of different application scenarios. Similarly, NFT can also be flexible and use the blockchain network to track the ownership of various digital and physical assets.
CryptoArt.Ai believes that NFT has the potential of becoming a “value machine” that empowers everything, and will trigger a ten-year opportunity for asset digitization. In the future, everything can be NFT. As a NFT platform, CryptoArt.Ai will also be committed to promoting the trend of NFT empowering everything
VMC BOSE | CRYPTO MALLU CLUB
Q4)In February, there was an incident of large-scale plagiarism of works on NFT platform. How does CryptoArt.Ai avoid such incidents?
Freya Fu | CRYPTOART.AI
CryptoArt.Ai is a distributed application running on the ERC721 protocol of the Ethereum network. CryptoArt.Ai uses innovative technical architecture design to avoid the plagiarism of NFT artworks. CryptoArt.Ai discovered and captured the application value of Layer2 technology in encrypted art transactions and digital asset circulation.
CryptoArt.Ai proposes a universal consensus algorithm, which is a hybrid consensus algorithm of “POS(Proof of contribution)+PBFT(Proof of Passing Message)”, which not only allows users to actively participate but also prevents malicious behavior, which is even more important than Ethereum in the future. The adopted POS consensus algorithm is more worth looking forward to, because the latter trends to cause distrust among network nodes.
Although the above explanation may sounds technical, but it actually solved the problem from the root so that we could avoid plagiarism of artworks and protect the right of artists on CryptoArt.Ai.We will also cross to BSC later this month.
VMC BOSE | CRYPTO MALLU CLUB
Q5) What is Cryptoart.Ai mission to accomplish? What is the intention of establishing Cryptoart.Ai?
Freya Fu | CRYPTOART.AI
“Art evolves with time” is the slogan of CryptoArt.Ai. Our mission is to empower art through blockchain technology, solve the lack of digital art dilemma, explore the possibility that contemporary art can connect with digital media, and join the emerging international movement of conceptual blockchain art. The primal aim was to create a modern, equal rights universe for artists and collectors with a decentralized governance paradigm that enables talented artists to solve the pain points in the conventional art sector with blockchain technology in the first case. The consideration they deserve can be seen by reverence and inferiority.
SEGMENT 2: LIVE Q & A
Q1) from @Ananduu2255
How can I buy this tokens? Is it available on any exchange;?
Freya Fu | CRYPTOART.AI
yes course, you can found on GATE and MEXC. https://www.mexc.com/exchange/CART_USDT
Q2) from @Justin6788
What are the benefits of holding your token as long term investment? Can you tell us about the motivation and benefits for investors to keep the your token in the long run?
Freya Fu | CRYPTOART.AI
we’re not only focus on crypto we also partner with auction company. Thats means we make mo https://finance.yahoo.com/news/cryptoart-ai-joins-hands-jiahe-145300108.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAL5Ob6Zj-GJfqJ1Vay-N2fm0eR04RzSpgYBpdAr0S66cSxbI3c9gymgRyQ_7kfTf7A8fBVuaQhVwPCbj8Egih8PJ4x_D6xyfY-hAdohnfQBbYjPQgjoaVAUyu-0kfD1TrgEyKMfLE59wd20J7ggzr3cvoU_GMj3dqFIjA9_Wybx4ney both in crypto and real world.
Q3) from @shuvo20055
Is your platform suitable for crypto beginners? Or does it only limited for professional users ?
Freya Fu | CRYPTOART.AI
for all the users that love and interesting in NFT and metaverse
Q4) from @JANI_NIBA_NA
Trust is very important in business, what makes investors, customers and users feel safe when working with your project ?
Freya Fu | CRYPTOART.AI
Safety is always most important thing for us. Our smart contact is audited by slowmist. Softbank is our invester
Q5) from @Malluboy91
How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates??
Freya Fu | CRYPTOART.AI
🔹Twitter：https://twitter.com/CryptoArt_Ai
🔹Telegram：https://t.me/cryptoartai
🔹Medium: https://cryptoart-ai.medium.com/
🔹Discord：https://discord.gg/KYedQpatHs
🔹Instagram：https://www.instagram.com/cryptoart.ai/
Follow CRYPTOART.AI here for latest updates;
Website: http://CryptoArt.Ai
Twitter: https://twitter.com/CryptoArt_Ai
Telegram : https://t.me/cryptoartai
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Group : https://t.me/CryptoMalluclub
Channel : https://t.me/@CryptoMallu_Club
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