The platform, which was founded by former Sotheby's and Christie's auction house executives, provides users with art pricing data and market insights, along with live auction streaming and peer-to-peer art trading.
The LiveArt X Card integrates Web3 into the art-collecting experience to provide holders with access to its digital art market, free airdrops, exclusive access to LiveArt's AI-generated artist insights, rewards in the form of their ART token and VIP access to real-world art events, among other things. The ART token, which powers the LiveArt ecosystem, can be used to buy physical and digital art on the platform.
According to LiveArt, its NFT membership card is meant to "put an end to NFT flipping and speculation" by encouraging collectors to hold onto their art long-term.
"The traditional art world has always understood how long-term value is protected, and yet much of the digital art world continues to rug itself," LiveArt wrote in a Medium post. "The LiveArt X Card ensures that the new breed of true digital collectors are protected from fraud, scams and flips, and at the same time gain exclusive access to important new digital artworks."
The Ethereum-based collection will be available for pre-sale beginning on April 4, with the public sale beginning on April 5. It will have a total supply of 3,500 editions.
LiveArt launched its LiveArt X NFT platform in April 2022. Investors in the startup include Animoca Brands, Binance and KuCoin Labs.
NFT marketplaces continue to battle for market share amid an extended crypto winter, resulting in a market that currently caters more to investors than art collectors or creators. In response, some platforms have launched features to incentivize long-term collecting and refocus the conversation on NFTs as art. In November, NFT marketplace SuperRare launched its RarePass subscription-like service, airdropping curated crypto art to its holders once a month.
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