10/08/2021 An upcoming NFT marketplace for creators, collectors

NFTs are digital assets that have existed for years, but the last few months have given a fresh lease of life to cryptocurrency and crypto-art.

New Delhi: As the art world begins to open up and go digital at the same time, art-tech organisation Jumbish has announced the launch of an exclusively art-based NFT (non-fungible token) marketplace that platforms both upcoming and established artists and creators, and connects them with collectors in an online blockchain-powered marketplace, it said. 

NFTs are digital assets that have existed for years, but the last few months have given a fresh lease of life to cryptocurrency and crypto-art. Artists conversant with technology have been able to drive the NFT surge through digital art, however, it is a misconception that NFT marketplaces are only for digital art. 

Combined with Jumbish's JDAT technology that authenticates provenance for physical artworks, the NFT marketplace will allow stakeholders to buy and sell art with a unique identity, said Jumbish in a statement. Moreover, the Jumbish NFT Marketplace will enable sale and purchases of NFTs in all currencies. 

"While all the existing NFT platforms charge exorbitant gas fees, creators will spend only $1 (Rs 70) per artwork on the Jumbish NFT platform. The new platform is built using a layer-two blockchain architecture, and will go a step ahead of competition with their low energy impact and considerably low gas fee to support the upcoming artists in the arts ecosystem in the country." 

"The currently available NFT platform works on an architecture which demands a heavy consumption of energy to mint a NFT and so the gas fees are high too. Newer blockchain solutions are making the gas fees significantly lower and will make it easier for the artists to reach out to the art connoisseurs of the world," says Shankar Mridha, CEO, Jumbish. 

According to visual artist Madhuri Badhuri, whose works will be sold on the NFT Marketplace, we have been practicing the conventional and successful approaches in fine arts which have "their own benefits and challenges". 

"However, the pandemic has altogether changed the way artworks are showcased. With the advent of NFT in the art world it has introduced better and safer ways to connect with art connoisseurs globally. Issues which were beyond human abilities like differentiating an original artwork with its duplicate counterpart, maintenance of record over generations and even ensuring royalties for Artists, seems to have been getting some real solutions," she says. 

"For the serious art collectors, a short-term trading approach will not be so lucrative. For the short term, it only remains as a trading instrument and the true aesthetics, thought behind a painting, is lost in this process. At Jumbish, we will encourage both serious art collection as well as briefly holding and selling an artwork if it's getting popular," says Mridha. 

The platform says that it is directly approaching senior Indian and South Asian artists -- "something that will also set the Jumbish NFT Marketplace apart". It is currently open for pre-registration.
Arts

https://economictimes.indiatimes.com/markets/cryptocurrency/an-upcoming-nft-marketplace-for-creators-collectors/articleshow/85151079.cms

Interesting NFTs
The Scion
A young figure caught in a moment of distraction, aware only ephemerally of his unconscious being, as it engages in psychological and psychedelic layer spaces. His right arm casually cradles a moray eel; the figure is comfortable but not truly aware of the potentials for danger in such negligence. His shirt reads “Bello” in Pokemon style font, harkening back to a childhood straddling the millennial threshold. To his right side, out of the unconscious deep, shrouded alien heads propagate as a fractal totem, each new iteration a more sophisticated rendering of emotional masking over the cold mystery of the greys. As the scion of the Budgie-Sattva, the young man, in his distraction, is also simultaneously aware of higher levels of self discovery. To his left a psychological topology sets beneath the oracle side of an 8 ball ,hovering; its message a purest concept of acceptance. The “Scion” lettering is in 80’s HeMan style bold declaration. The lower right side of the painting is like a hybrid of melon, feathers, and seeds. The crystals in the background bring light; conducted, refracted, reflected, and dispersed, to balance the dark shadow of the figure’s physical body. The aura of the scion succeeds in layers to point, with a finger, and the crown chakra, toward a center of a mandala existing as nigh pure application of strokes, in essence painterly abstraction, but also revealing hints of the Aura of migraine, and the bi-hemispherical nature of the brain–noting concerns of the possibility of inherited mental disease. Yet the flourish of chakra as it sets against that center is robust, active, coherent, and reveling against all fear. Fundamentally, the piece speaks to the activation of one’s potential to begin to “Know Thyself”, and find greater awareness out of the enigmas of the mind–as an inculcated seed given to the rich soil of one’s own birthright.
Fuku-Shiva
The term “Fuku” refers to fortune or good luck. “Shiva” refers to the Hindu deity who represents strongly polar qualities, both severe and delicate. On a beach inspired by adventures on Phi Phi island in Thailand, three youths cavort. Two are representational figures and the third is psychologically rendered. A dynamic relationship ensues between the triad; a reciprocity of active and passive states. The boy on the right engages in maneuvers of evasion, defense, and is dressed in a speedo which reiterates the colors and symbolism of the caution tape on the left and upper right frame of the composition. In concurrent reaction the psychedelic figure shoots out a rocket powered paper airplane. The nude boy seated in the froth and sand approaches in passive repose, and is met with active attention but equal physical reserve by the psychedelic being. Perhaps the most naked figure is also the least representational. Looming large, dynamic, and active, it engages its companions playfully. Various symbols interject into the otherwise naturalistic scene, most notably a beach ball and two contaminated barrels nested in the sand. The upright barrel reads “FukuShima” in Kanji. The barrel laying down reads “Dharma”. To the left the scene is bounded by caution tape, reiterating the danger of the nuclear waste while also hosting alien archetypes, whose presence, as is the nature of these entities, runs up and just behind the consciousness of the psychedelic figure’s eggshell-like skull.
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