Nonfungible tokens and crypto art are a typical bottom-up development path, which successfully lowered the threshold of art and expanded its audience. It also brought “ownership” and “finance,” which are unique attributes of NFTs, to the artwork in terms of its content.
However, there are many challenges in the current NFT market. The current poor liquidity of NFTs has led to price discovery of low efficiency. In addition, non-mainstream art forms dominate in the current crypto art circle, which affects the overall content quality and causes mainstream artists to hesitate to participate in it. OmArt was thus born to cope with the above challenges.
What is OmArt?
OmArt is an ERC-20 NFT platform based on original oNFT and infinite rolling auctions modes, and provides an innovative NFT and oNFT product system.
The platform supports the creation and trading of NFTs. NFTs created on other platforms such as OpenSea can be listed on OmArt, and NFTs created on OmArt can also be listed on OpenSea. OmArt will first and foremost integrate into the current mainstream crypto art scene.
oNFT is an original NFT of artworks, whose ownership cannot be acquired by the current owner.
3. An infinite rolling auction illustration
An infinite rolling auction means that oNFT will be automatically auctioned by the platform. The price of each round will be determined by the OmArt platform according to a uniform pricing curve. When the latest sale price or auction cycle of oNFT exceeds a certain value, the current owner of the NFT can initiate privatization and convert oNFT Remint into a standard NFT agreement by paying a certain premium over the latest sale price (which is tentatively 30%).
A team with enriched resources
The team has a wealth of offline space, internationally renowned artists, artworks resources and has more than 100 art partners with experience in international exhibitions. In addition, there are more than 50,000 contracted artists who are active on the OmArt platform.
Michael Chi, OmArt’s CEO, is an associate professor of visual communication, an international curator, and the rotating chairman of the Association of Chinese Artists in American Academia. He was recognized by “Chinese Magazine” as one of the 10 recipients of the “Young Chinese of Excellence Award” at the magazine's 40-year anniversary ceremony in 2018.
As a bridge between art and the crypto world, OmArt brings good works of art into the encrypted world by holding offline art exhibitions and auctions in conjunction with the online NFT platform, keeping the quality of OmArt content at the top in the industry.
OmArt's mutually successful business model
The platform provides an efficient price discovery path for artworks or artists through the oNFT infinite rolling auction mechanism.
- Users will also be able to enjoy more NFT art, participate in the auction and receive corresponding economic rewards.
- oNFT will then be privatized and become the standard protocol NFT, rewarding the world of the mainstream cryptography art industry.
- Artists can also publish NFTs directly and are free to define the price and royalty of NFTs.
- As for the OmArt platform, the platform’s value will continue to grow as it obtains high-quality content and users of different portraits. The platform will continue to retain its earnings with users and artistic content to allow it to continue growing.
OmArt will officially launch version 1.0 on July 26, 2021, which is an online NFT market platform that can issue and trade the standard ERC-721 NFT. OmArt will also hold an immersive meta-universe art technology exhibition with the theme “Im Meta” on July 30 at Shanghai Plaza, located on 138 Huaihai Middle Road.
A total of 55 works will be presented on the OmArt digital trading platform with NFT works and artists include holographic special effects scenes for the sci-fi movie “Creation — Speed of Light” and the future multi-dimensional human-computer interaction interface designed for Tom Cruise's sci-fi blockbuster “Oblivion,” the great designer Gmunk, new media designer Joshua Davis, motion graphics artist Jonathan Winbush and famous graffiti artist Gemma O'Brien, among others. The curator of this exhibition, Scarlett Lin, is an artist and the founder of Linspace.
Version 2.0 of the OmArt platform is planned to be launched in September 2021, when oNFT assets and the core innovative gameplay “infinite rolling auction” will be officially launched.
Telegram group: https://t.me/OmartOfficial_NFT
Official website: http://omart.io/