Non-fungible tokens (NFTs) are currently gaining huge momentum and popularity, which is why several organizations have joined forces to launch the “First Crypto Art Digital Illustration Contest.”
Technology blockchain Blockchain is gaining increasing interest in different industries, but also among creators and artists who have discovered the potential of this technology to protect their copyrights and intellectual property rights. Thanks to the enormous potential of this technology, it is now possible to create pieces of art, or other products, in a unique way within the blockchain, guaranteeing authenticity, uniqueness and originality in each piece.
To give further impetus to this development, the platforms Crypto Habanero, Avalanche y Blockchain Observatory, joined forces to launch the "First Crypto Art Digital Illustration Contest", which will be aimed at the entire community of artists, illustrators and creators who want to be part of this important innovation. Participants in this contest will be able to create unique and original pieces inspired by the beginnings of Bitcoin, which date back to the time of the Bitcoin movement. cypherpunkThe initiative promoted by these organizations seeks to stimulate greater knowledge and adoption of blockchain technology, and all its transformative potential; in addition to honoring all those who contributed to one of the greatest innovations of our time: the creation of Bitcoin as a decentralized system and protocol, and as the first cryptocurrency successful in the world.
The call for entries to participate in this competition will be open until midnight on March 7.
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A revolution in art and intellectual property
Blockchain art, or crypto art, is a trend that is gaining momentum today, attracting hundreds of followers every day, thanks to the revolution that NFT tokens represent for art and intellectual property.
One of the greatest advantages of NFT tokens lies in their ability to guarantee the authenticity and originality of a piece; allowing to visualize who owns said piece, the value for which it was acquired, and many other data of interest to collectors. In addition, NFTs provide a reliable solution to counterfeiting problems, so if a piece has been uniquely created, it cannot be duplicated or reproduced as happens with digital images.
Likewise, NFTs guarantee that if an image was designed to have a limited existence, it will not be altered under any circumstances; and they also guarantee that only the owners have the right to display them. Therefore, NFT tokens have the ability to guarantee the artist's image rights and the intellectual property over the works.
First prize of $750 USD in USDC
The competition, which closes in March, will select a total of 8 winners, with first place receiving a prize of $750 USD. Second place will be awarded a total of $500 USD and third place $250 USD. The remaining 5 winners will receive honorable mentions accompanied by an incentive of $50 USD each to reward their talent and encourage creativity. All prizes and economic incentives for this competition will be awarded at the stablecoin USDC or Avalanche's AVAX token.
This competition allows creators and artists to present their digital artworks designed on any software, and even to present works made with both digital and traditional means. However, the organizers of the event do require that the final version of the work, which will be submitted for the jury's evaluation, must be 100% digitalized in A4 size at 300 dpi (2480 x 3508 pixels). For its part, the jury of this competition will be made up of several academics from the Faculty of Arts and Design of UNAM, as well as other professionals from the blockchain industry.
Crypto art, a growing market
A few days ago, the crypto art market Nifty auctioned off a series of works of art by the American actor, writer, director and producer Justin Roiland, who was one of the creators of the famous animated series “Ricky and Morty.” Roiland’s digital artworks sold for over $1 million in just a few hours. The successful crypto art collection sold one piece worth $290.100 USD.
Other highly valued works by Roiland were sold for between $150.000 and $90.000, making it one of the most successful NFT art collections sold on this market. Nifty also auctioned off a collection of crypto art inspired by technology, nature, and the hit American saga Star Wars, which sold for over $3,5 million.
Several analysts point out that the current popularity and boom of crypto art, based on NFT tokens and blockchain technology, is just beginning, and that a real wave of demand for this type of digital assets will soon arrive, renewing the concept of “digital scarcity” as Bitcoin does with its limited coin issuance.
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