Cheeze is allowing their customers to mint their own photos into Non-Fungible Tokens (NFTs), giving them the ability to trade and sell on the blockchain through the app-based platform Decentraland.
The soon-to-be-launched app has designed and constructed as part of a new virtual game called Decentraland. The game is the first fully decentralised world, controlled via the Decentralized Autonomous Organisation (DAO), which owns the most important smart contracts and assets of Decentraland. Via the DAO, users can influence, decide, and vote on how the world works.
This move by Cheeze comes as a direct result of the NFT market tripling in size during 2020, with the total value of transactions increasing by 299% year-on-year to more than $250 million; as highlighted in studies recently published by the NFT market analyst firm NonFungible.com.
Over the last year, the length of time that people spent online significantly increased – the footfall for virtual galleries alone can boast up to 30,000 visitors in a single day. Decentraland is a blockchain-based Metaverse that allows anyone to create, explore and trade in a virtual world. People can network and also have the power to purchase items, including land, where buildings can be constructed.
Cheeze has purchased a plot of land which will house the Cheeze Art Gallery, which is being built by an architect as a destination where images minted via its mobile app in the studio will have the opportunity to be showcased in the gallery on a given day.
This growing relationship between blockchain and the art world was recently touched upon by MoonPay CEO Ivan Soto-Wright, who shared “in particular, the digital art and music worlds have felt the impact [of Blockchain], offering a whole new way for artists to engage with their fanbase, get discovered, or at a very base level, simply make more money.”
Likewise, the fintech Curve has joined forces with Theatre Support Fund+, to sell five pieces of unique digital art in an online auction for charity. The series of animated Curve branded figures is set to go under the virtual hammer as NFTs, with online bids invited from all over the world.
“When building Cheeze, we wanted to give photographers as many opportunities as possible to showcase their masterpieces,” comments Cheeze CEO and Founder Simon Hudson. “Not only will people be able to list them on our NFT marketplace app, but now they have the option to display them in Decentraland’s virtual ‘muzeum’. We plan to do launch events and virtual drops in our muzeum and are excited to open the doors for users to come and explore these photos in the metaverse.”