Russia-based Third Place has just rolled out an NFT (non-fungible token) platform for real-world art objects — the first of its kind.
Powered by Free TON blockchain, Third Place NFT offers a platform for artists and galleries to make their works into NFTs, in addition to registering and selling exclusive rights to their works. What differentiates them from the more popular crypto art NFT platforms is their focus on projects that are related to real cultural objects, utilising the power of NFT to own and monetise art objects.
The problem with NFT hype is that it creates a wave of works with very little significant cultural value. Third Place hopes to mitigate said issue by introducing curatorship. The holders of Third Place’s tokens will receive exclusive curatorial rights, which means that they are able to vote for submitted works. This ensures that only valuable art pieces get to be highlighted.
The tokens of Third Place will be distributed among the initiators — the aficionados of art — during the first stage. New participants get to be compensated with voting tokens for their activity as the project develops.
The platform will also be used for special projects, one of them being a highly ambitious collective private gallery featuring classic art. Third Party plans to search for art projects on the market and verify their authenticity together with major Russian museums.
