After Superrare and Makers Place now Known Origin has joined the Decentraland Marketplace to sell crypto art. The entire inventory of Known Origin, including all secondary sales, are purchasable using the MANA token. On every sale the platform charges a 2.5 percent fee. and burns it. This decreases the total supply of MANA circulating on the market.
The Decentraland Marketplace allows gamers and users of the virtual world to buy all kinds of in-game assets, like shirts, pants and hats. MANA is the native token for the store. However, the biggest sales happen when someone buys land parcels. The cheapest pieces of land sell for 12 thousand MANA, which is 1140 dollars.
Interesting for the crypto art community is that their art can now also be purchased directly from topnotch Samsung smartphone. All devices with an integrated Samsung Blockchain Wallet have access to the Decentraland Marketplace as a separate application, like for example the Samsung Galaxy S20. These people can buy crypto art from Known Origin through the Decentraland Marketplace directly from their smartphone, which must be a pretty cool user experience.
Crypto art is digital art secured by blockchain technology. This means that the origin, rarity and originality of a creation can be tracked. On the blockchain every artwork is represented by a non-fungible token. As a result buyers get the token, and that token represents ownership over the digital art.
Crypto art on the rise
Crypto art is gaining popularity. Platforms like Rarible, Superrare and Knownorigins are thriving. The introduction of blockchain technology allowed digital artists to create unique artworks. Ownership and rarity are now verifiable through the blockchain, creating true value. Last year the crypto art market was good for 559 thousand dollars in trading volume.
This year alone Superrare traded 906 thousand dollars worth of digital art, while Known Origin has 223 thousand dollars in registered trades. If we add the trading volume of these projects together and add newer initiatives like Async Art and Avastars, then there has been 2.25 million dollars in trading volume this year so far. Read more about major trends in the NFT market.