Telecommunications giant Swisscom has unveiled a new approach to using non-fungible tokens (NFTs).
The product, called Noow, will display art that you own and you and the artist will know how many copies of his or her works have been distributed.
The app comes from a Zug-based, Dloop, which spun out of Swisscom's accelerator, Kickbox.
Digital art is displayed on screens in places such as hotels, restaurants and offices. Changing sequences or animations create a unique ambience. However, a lack of copy protection systems and distribution platforms means that these works are often used illegally.
The startup dloop intends to change this situation with its NOOW app. The blockchain solution guarantees the ownership rights for buyers and payment for artists.
The service will be available on Swisscom TV, a set top box service in Switzerland, and include 100 words by thirty artists. Stefanie Marlene Wenger will curate the first batch.
Buyers get a certificate of authenticity and can see the art on their screen. They also know how many copies exist, allowing them to understand the rarity of their piece. It's obviously a work in progress but as it stands, it's a fun way to share the idea of cryptocollectables with a non-crypto audience.
"Swisscom TV is one of the first providers in the world to offer art on the TV screen. We are delighted to have Swisscom on board for this courageous project," said Rieder. "NOOW is making digital art into a collector’s object and creating a value for it."
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