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Lobus raises $6 million for a blockchain-based art management app

The goal is to offer artist some extra earnings when art changes hands.

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One of the blockchain’s most obvious real-world use cases has been reshaping ownership proofs in the fine art markets. However, as top auction houses have welcomed NFTs and well-known artists have experimented with the crypto medium in recent months, the future has appeared more real than ever.

Lobus is hoping to commoditize blockchain technology with an asset management platform that they hope will bring creator-friendly mechanisms from NFT marketplaces like SuperRare to the physical art world as well, enabling art owners to retain partial ownership of the works they sell so that they can profit from secondary transactions down the road. Although physical art sellers have become accustomed to selling 100% of their work and watching the value increase over time as it changes hands, Lobus’s aim is for artists to retain fractional ownership during those sales, ensuring that they receive a commission on future sales.

Lobus co-CEO Sarah Wendell Sherrill says, “We’re just on a quest to transform artists into owners.” “We’re taking the best of what NFTs have to say about ownership and wondering if we can help build new ownership structures and disrupt this asset class.”

The startup is encapsulating these new mechanics in a broad art asset management framework, with the goal of luring users away from today’s aging legacy tech suites. Lobus aims to offer the art industry its own Carta-like tech framework that is approachable to the broader market by combining robust ownership proofs with a CRM, analytics platform, and tools like dynamic pricing.

Lobus claims that the company has raised $6 million in funding from investors such as Upside Capital, 8VC, Franklin Templeton, Dream Machine, Weekend Fund, and BoostVC. Rob Hayes, Troy Carter, Suzy Ryoo, Rebecca and Cal Henderson, Henry Ward, and Lex Sokolin are among the Angels competing in the round.

A major priority for the team has been to concentrate on what their technology will bring to their network of art owners rather than the nuances of knowing what blockchain is. Although the recent NFT boom has resulted in billions of dollars in revenue, projects like Lobus are attempting to cross-pollinate the mechanics of crypto art with the mainstream art market in order to get all stakeholders on the same page. Lobus has sold their site to collectors, artist estates, and fund managers, in addition to having relationships with about 300 successful artists.

Lobus currently has about 45,000 art objects in its database, with a total asset valuation of $5.4 billion across physical and digital objects.

Projects

Enjin is Working on a Digital Version of Egypt’s Pyramids

Collectors will be able to deploy iconic Egyptian monuments, such as the Pyramids of Giza and the Great Sphinx, on virtual platforms as part of the NFT’s limited edition.

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According to the press release, Enjin, a leading participant in the virtual artifact and NFT market, it would develop NFT versions of the most iconic Egyptian landmarks, including the Pyramids of Giza and the Great Sphinx.

Virtual Worlds, Enjin’s project partner, has more than 20 years of experience digitizing historical objects. This will be the first time major historical monuments have been used as NFT tokens, allowing for new ways to engage with painstakingly authentic replicas of landmarks all across the world. The Unreal Engine will be used in the NFT renditions of the Egyptian monuments, along with photogrammetry scans of 60K resolution, to create the most accurate digital duplicate of the artefacts.

NFT Gaming Industry

Enjin and Virtual Worlds intend to use the knowledge gained from copying Egyptian monuments as NFT to create 3D worlds in which users can search for new NFTs that will be instantly transferred to them via smart contracts, as well as participate in treasure hunts that will reward them with Enjin tokens.

Real-world item models, such as the Picchu Mast, will have its own collection of NFT relics in addition to the typical computer game artifacts like sarcophagi, chariots, scepters, and sculptures. The NFT will then be integrated into Enjin’s VR and AR apps, as well as other 3D games.

They’ll be exchanged on unique NFT marketplaces based on the JumpNet Enjin blockchain, as well as more traditional analogs like Ethereum, Polkadot, and Efinity.

Expanding

They’ll be exchanged on unique NFT marketplaces based on the JumpNet Enjin blockchain, as well as more traditional analogs like Ethereum, Polkadot, and Efinity.

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Projects

Marvel NFT Marketplace Binance Smart Chain is the Newest Addition to the Binance Smart Chain Family

The Marvel Non-fungible Token Marketplace Aims to Bring Together Cryptocurrency Dealers and NFT Collectors.

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Fans of Marvel Comics and the Marvel Cinematic Universe (MCU) can now trade and collect on a new NFT marketplace. NFT Marvel is the world’s first and only token designed particularly for Marvel Comics fans who wish to interact with the characters while also earning investments.

The NFT Marvel Marketplace is a decentralized cryptocurrency exchange based on the Binance Smart Chain (BSC). Assets can be converted into NFT tokens by creators. The marketplace’s universe revolves around Marvel fan tokens (MV). Each engagement on the platform earns you MV tokens.

Interactions can include the creation of digital artwork and its dissemination to the general audience. Users can also send the NFT art they’ve developed as a gift. MV tokens are earned for each gift sent. The platform has stated that it will deliver MV token holders bespoke NFT presents at random.

While not hired by Marvel, the NFT Marvel founders anticipate that the Marvel community will help to keep the project going and expand it further. To reflect this, they created the token metric technique.

The transaction is subject to a 6% tax levy, which is divided into three parts, for each trade. MV will allocate 2% to all holders in order to increase the value and ownership of the company. To ensure the long-term viability of MV, 2% will be contributed to the liquidity pool on Pancake Swap. The remaining 2% will be incinerated at the end.

BSC enables the marketplace to provide low-cost, near-instant transactions. This is significant since NFT fees have been identified as a significant barrier to mainstream adoption.

Crypto-comic Books are on the Way

As interest in crypto grows, so does interest from new genres of popular culture. Comics and comic book collections are one of the most recent subgroups to emerge. Artists have a practically limitless number of options thanks to the large variety of comic books and characters available. When you consider that many true Marvel and DC artists are entering the NFT space, things start to look quite interesting for fans.

Despite the widespread interest in comics and nonfiction books, not all of it is favorable. While former Marvel or DC artists releasing new work of their famous topics pleases the fans, the businesses themselves are not thrilled. In reality, both Marvel and DC have gone to considerable lengths to punish artists who profit from their characters.

Jose Delbo, an 87-year-old artist who previously worked on Wonder Woman and Transformers, is the clearest example of this. Delbo built an NFT collection featuring largely Wonder Woman art, which he sold for approximately $2 million.

The artwork was described as a limited-edition, signed digital production, with non-commercial rights granted to the winner. While both Marvel and DC agree that in the past, comic book artists were permitted to earn from pencil and ink drawings as a professional courtesy, selling digital art for millions of dollars may be overstepping the mark.

“The offering for sale of any digital photographs incorporating DC’s intellectual property with or without NFTs, whether rendered for DC’s publications or rendered outside the limits of one’s contractual engagement with DC, is not permitted,” said Jay Kogan, senior VP of legal affairs at DC Comics.

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As New NFT Collection Drops Art Blocks Surges 500%

In the last seven days, sales totaled $1.4 million.

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Art Blocks, an Ethereum-based digital storefront for programmable art projects, has seen a tremendous increase in sales and transaction volume. The introduction of a collection in partnership with Sotheby’s auction house, which contains digital art from the first 19 selected projects on Art Blocks, has sparked the initiative.

The platform’s NFT sales have surged by about 200 percent to 952, resulting in $1.4 million in transaction volume. According to DappRadar, this surge in activity has pushed Art Blocks to 7th place in the overall NFT collection rankings. Surprisingly, the average price of an NFT sale on Art Blocks in the last seven days has been roughly $1,500. Importantly, Art Blocks is coming closer to Rarible, the premier NFT collections platform, as a result of the recent surge in traders and sales.

Natively Digital

Natively Digital is the name of the NFT art auction event, which is one of four high-profile NFT sales by Sotheby’s in 2021. The 19 pieces of art sold for a total of $81,900, with each item selling for roughly $4,300 on average. Looking at the individual component floor prices on Art Blocks, it appears that objects were sold for a low price. On OpenSea, a Ringer art NFT would sell for at least 4.5 ETH or roughly $9,000, while Nimbuds has a floor price of 0.49 ETH or roughly $1200. The winning bidder in the Sotheby’s auction appeared to have gotten a good deal on all 19 pieces.

Drops Run Activity

Each of the 19 artworks in the Sotheby’s collection is unique in its own right because it was one of the first to be created on the Art Blocks platform. The NFT marketplace has certainly benefited from the attention of both the crypto art community and the Sotheby’s art community.

Importantly, sales of digital art at Sotheby’s are not tracked on-chain, therefore the data displayed on DappRadar does not reflect this. What’s happening is that the high-profile collection is causing a domino effect, with another drop driving awareness and usage of the platform.

Another cause for the uptick in traffic could be a drop released in conjunction with Tyler Hobbs on June 7th. The Fidenza collection, created by a visual artist from Texas, is said to be the artist’s most adaptable algorithm to date. “While the program maintains focused on organized curves and blocks, the variety in scale, organization, texture, and color utilization it can employ creates a vast range of creative possibilities,” the creator adds.

As a surge of interest in digital collectibles swept the globe in 2021, we saw both Sotheby’s and Christie’s connect with NFT art collections. Sotheby’s was also engaged in the recent sale of a rare Alien CryptoPunk, which sold for more over $11 million. More intriguing is the fact that, despite the fact that the cryptocurrency market appears to be entering a bear market, NFT sales are still strong. Last week, sales of NBA Top Shot increased by 50% week over week, but digital collectibles on Wax appear to be untouched by the price drop.

What is Art Blocks?

Users choose a style they prefer, pay for the job, and an algorithm creates a randomly generated version of the content that is transferred to their Ethereum account. A static image, 3D model, or interactive experience could be the end product.

Each output is unique, and the sorts of content that may be developed on the platform are virtually limitless. The generative script is written to the blockchain, which distinguishes the Art Blocks platform from others. The NFTs that are minted as a result are not controlled or curated by the artist, and the program’s output is a complete surprise to everyone.

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