George Town, Cayman Islands, April 26, 2024 (GLOBE NEWSWIRE) -- As the crypto art craze sparked by NFTs gained acceptance, public recognition of it as an art form persists to this day, providing new directions for various derivative economies, including the emergence of RWA assets in recent years, primarily serving the art derivatives sector. Due to its technical architecture being similar to NFTs, RWA can be understood as a different variant of the same crypto asset.
What is BeArt?
BeArt is a platform focused on global high-value art RWA (Real World Assets) and Web3 encrypted asset issuance and trading.
Combining technology and financial innovation, BeArt maps real-world art into the crypto domain by leveraging its proprietary detection technology to introduce a suite of NFT-like encrypted assets called RWA. Additionally, based on the ERC721g protocol standard, BeArt has launched derivative assets known as RWAD.
RWA represents an innovation distinct from traditional NFT art. BeArt employs patented technology rooted in real art value and a 100% mapping standard. Although similar in form to NFTs, RWA uses different blockchain technology standards, providing a more comprehensive mapping of real-world art.
While some traditional art auction houses are also promoting their RWA assets, these are mostly mild derivatives of artwork, similar to various brand licensing activities.
On the other hand, BeArt focuses on RWA as its primary business, aiming for a 100% online mapping of physical art and developing the proprietary Tolu Certification System. It has also launched various applications and platform governance models around RWAD.
Technical Standards and Innovative Assets
Tolu Certification System
The Tolu system is BeArt's patented technology aimed at achieving a 100% genuine online mapping of artworks, akin to the "casting system" for art RWA assets. It consists of two basic elements: certification and the Art Gene Card.
BeArt promotes RWA asset standards that utilize a series of advanced technologies, including optical scanning, image recognition, 3D modeling, photogrammetry, and detailed material and color analysis. These technologies aim to build an accurate, micrometer-level three-dimensional genetic image and data, recording not only the basic sequence information of artworks but also providing detailed displays of their three-dimensional structures.
Meta Space
In addition to basic RWA asset issuance, BeArt has also launched modular integrated products for RWAD circulation and economic value-added services — the RWA Collection Bank.
The core focus is to enhance financial efficiency and transaction effectiveness for buyers and sellers, expanding business scenarios to create additional value. It provides financial derivative services for art collections and value-added financial services for users.
Economics and Governance
BeArt's business model primarily targets seller and buyer user groups, progressively serving three stages of users over time and development sequence.
BeArt Labs: Provides services for authentication, transformation, and casting from physical artworks to RWA, digitizing traditional artworks.
Collection Trading and Financial Services: Offers comprehensive support for collection trading and additional collection financial services to promote art circulation and value realization.
Platform-wide Subscription Services: Targeted at VIP users, providing exclusive subscription services including advanced access rights and customized services.
All of this will be implemented based on the tokens that BeArt will issue in subsequent phases.
Visionary Club NFT
The BeArt Visionary Club NFT represents the platform's inaugural original NFT series, consisting of 9,999 pieces, built on the Ethereum blockchain, and will be publicly released on the Opensea platform.
Specific benefits include:
- l Top 100 holders receive a 10% dividend.
- l 5% bonus pool from BeArt.
- l 20% discount on transaction fees.
- l Discounts or free VIP tickets for offline/online art exhibitions.
- l Priority rights to own a personal art gallery.
- l Other intriguing features.
Note: The Visionary Club NFT series will be stored perpetually after release and can participate in subsequent RWA asset-related gameplay with additional benefits. Any NFTs not minted by the end of the sale period will be permanently destroyed.
Galxe OAT Event
BeArt has launched a special OAT event on Galxe, featuring a USDT lottery.
Acquiring OAT tokens allows participants to receive whitelist rewards during the Visionary Club NFT sale phase, enabling them to mint an NFT at a lower cost and enjoy multiple benefits within the official community.
Event Link:
https://app.galxe.com/quest/LiffwTEk62SHMjuxh4Eden/GCq6CthBun
Conclusion
The encrypted assets introduced by BeArt represent the latest convergence of traditional physical art with the crypto industry. Despite the waning hype around the NFT trend, traditional artworks in the form of RWA encrypted assets, coupled with the Tolu Certification System, are expected to gain widespread acceptance in future bilateral markets.
Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.
