SCENTS, the new NFT standard created by Blue Room Innovation that will transform digital art.
Trading in NFTs has in recent months become a disruptive market with exponential growth and a bright future. Good proof of this is the sale last March by the artist Beeple of his work “Everydays-The First 5000 Days” at the prestigious Christie’s auction house for $ 69 million.
Today, 90% of the market is divided into two large segments, collectibles and art.
If we focus on art, ERC721 is currently the most widely used NFT standard for trading digital art. This makes it possible to convert digital works into an asset with a unique and authentic identity and to certify their ownership.
Through this standard, the pieces are intrinsically linked to the author, who can decide what to do with it. Receive a commission or an amount for the sale, for example. It really allows artists to certify their works and be able to market them.
Why is SCENTS different from other art NFTs?
To respond to this challenge, Blue Room Innovation team team wanted to go further and propose a solution that evolves the ERC721 standard and that allows the owner of the works to certify other qualities of the work that allow us to trace and increase its value, based on in the exposure of it or the engagement it generates. Properly tracing the exhibition of a work of art turns it into a living object, a token, a SmartContract, which interacts with the different channels and exhibitions.
SCENT was born with the purpose to be a new standard for the monitoring and certification of creations exhibitions with the evolution of the property monitoring standard for the non-fungible token ERC-721, combined with the adoption of the MPEG-21 standard for management of SmartContracts in audiovisual objects.
It is a unique approach where the tokenized digital objects containing art can be licensed by a SCENTS smart contract to any exposition, web, stream, platform, etc and track the acknowledgement, interact, and be referred as an identifiable piece of creation from the artist, regardless of its property.
Let's start SCENTS adventure!
The artist Solimán López, creator and director of the HarddiskMuseum, will be the first to bring SCENTS to life. Solimán López is one of the main creators of crypto art in Spain, standing out a few days ago for having created the first digital piece related to nature, the HashTree, which he has sold for € 12,000. Thanks to a joint effort, we have been able to share together the ambitions for this new challenge and create synergies that will allow to lay the first stone of this spectacular project at the HardiskMuseum.
SCENTS has already been shortlisted, from among more than 120 projects presented in Blockstart, as one of the 24 DLT technology developers who will present their solution on July 27-28 to be able to prototype and test in a real environment - in a digital community of more than 100 digital artists - the new definition of the standard, to reach a TRL 6 development level by February 2022.
BlockStart is fully supported by the European Commission. Their mission is to discover and back Europe’s most talented blockchain/ DLT innovators, help them implement their solutions in real-world commercial pilots and attract follow-on investment.