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Artists in every genre have been severely affected by the COVID-19 pandemic and the subsequent lockdowns. Many have suffered from the physical restrictions that have been imposed, with galleries and other venues forced to close their doors. But there is now a digital solution. In January 2021, UniqueOne.Network launched its flagship community-led art marketplace, Unique.One, a next-generation decentralized NFT arts bazaar for the growing world of digital artists, creators and collectors.

The Unique.One platform doesn’t charge artists to mint NFTs, allowing members of its arts community to regain their autonomy by earning revenue on their own terms – not intermediated by greedy middlemen. A decentralized art marketplace means that any artist can easily digitize their work by uploading it to the Unique.One platform, which then tokenizes it to create an NFT. Unique.One-minted NFT art can be created, purchased, sold, traded and collected, while the non-fungible tokens confer the right to own, sell, lend, receive royalties and reuse this art. Unique.One is being built by a team of artists, developers, designers, marketers and project managers with deep involvement and experience in the crypto space from around the world.

Unique.One has also created the $RARE token to govern the entire platform’s ecosystem – from NFT creation mining to liquidity pools and the decentralized autonomous organization (DAO). $RARE has a fixed supply of 10 million tokens, which will be minted over five years. Token release starts with 4 million tokens issued in the first year, followed by 1.5 million tokens each year for the next four years.

$RARE holders get special privileges, including the right to vote in contests and platform governance decisions, as well as a share of the platform fees. Token holders can also mine more tokens as liquidity providers via exchanges including Polkaswap, BiKi Exchange and Uniswap. To date, nearly 4,000 artworks have been collected via the platform, earning artists collectively almost US$10 million.

Alongside Unique.One are other similarly structured marketplaces that are part of the UniqueOne.Network, including UniqueOne.Photo, a platform that incentivizes photographers instead of profiting from them. Photographers have full autonomy and power over commission, eliminating the massive cuts taken by traditional photography platforms. UniqueOne.Photo is designed specifically for photographers with licensing options that can be attached to NFTs on-chain.

Similarly, Unique.Fans allows NSFW artists the freedom to develop a more intimate relationship with their followers, who can support the artists they care about by becoming investors. The UniqueOne.Network team launched Unique.Fans after they became aware of the greater challenges and marginalization facing NSFW artists today.

Three further projects are in development: UniqueOne.Game is a marketplace for gaming assets that allows multiple gaming platforms to trade assets with each other. UniqueOne.Love is a philanthropic platform to facilitate giving in the peer-to-peer sharing economy. Finally, UniqueOne.Finance gives users the power to unlock the DeFi capabilities of their NFTs via creative mechanisms such as NFT vaults, fractionalization, index funds, swaps and more.

Those who are interested in the power of the UniqueOne.Network as a whole can gain exposure via the $UNET token, which will be issued as an ERC-20 token on Ethereum. Users will be able to bridge this token to the SORA Network and trade it on Polkaswap, a feature that will be available with other UniqueOne.Network tokens such as $RARE, $FOTO and $FANS.

Network Architecture

UniqueOne.Network expects to deploy a substrate bridge on the SORA Network by August 2021. Alternatively, in the event of UniqueOne.Network becoming an appchain, the ERC-20 token will be bridged to NEAR before bridging to Octopus and the UniqueOne.Network substrate chain.

The world is moving toward Web 3.0 with its focus on decentralized communities and away from centralized businesses. Ecosystems like the UniqueOne.Network enable the benefits of Web 3.0 to accrue to participants and not the platforms themselves. This is a radical shift that will transform many sectors. For artists and other creatives, UniqueOne.Network provides the best DeFi-enabled interoperable NFT infrastructure in the world, putting the power back in their hands.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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