Facebook renaming itself to Meta had a blistering impact on peoples’ awareness towards the notion of Metaverse.
The Metaverse market, currently hovering around the size of US$22 billion, would grow at a rate of more than 40% CAGR, up till 2030, according to some market research predictions. But does growth automatically translate to inclusivity? The brief answer is: not always.
The growing need for a 360-degree online community that deals in networking, news and media, entertainment, online gaming, education, and much more - comprehensively - is driving several metaverse-oriented projects to come into the market.
But are they inclusive? 3Space Art, a platform that encourages users, artists, collectors, and digital art enthusiasts to come together in a virtual meeting place, considers inclusivity crucial and aims at forging a cooperative community that captures audiences outside the Metaverse.
What 3Space Art Has to Offer?
Backed and supported by FBG Capital, 499+Block, Kalyan Foundation, Broadband Media Corp., Intellicorp, and many more 3Space aims at making digital art accessible and popular. To meet their goal of building a thriving digital art-centric ecosystem, 3Space Art operates under four broad categories.
The Gallery is 3Space’s digital art marketplace for users to discover new artists and collect their art. You can buy these arts in Non-fungible tokens or NFTs. The enticing thing about this process is that these NFTs not only bring you ownership rights, but you can also stake them at the 3Space Art pool and receive $PACE tokens.
The Art Pool is the microcosm of the platform as it helps make the digital art ecosystem wider and the ownership rights more valuable. If you are the owner of digital art, by staking the NFT in the pool, you delegate the exhibition rights of the art piece for events that could be online or offline. If the event involves commercial transactions, the proceeds get distributed back to the participating pool. In short, it incentivizes artists to create and collectors to collect.
The functioning of the Art Pool shows that events are vital in the 3Space economy. 3Space Art is proactive in encouraging and expanding this space on its own.
It will work with a diverse set of venues and organizations offline to spread the realm of digital art. It will bring in electronic displays, signages, TVs, digital art frames, kiosks, and more which will be open for operators to have a look at on the Artpool first.
Finally, $PACE tokens will ensure that incentives earned by artists, collectors, and the audience, in general, are paid out seamlessly and in a way that is rewarding in terms of current value and long-term possession.
Altogether, 3Space Art looks at the Digital Art Multiverse as a place that is to be encouraged holistically. And, their efforts to spread the art, strengthen its infrastructure, and make it rewarding for its stakeholders is what the platform is all about.
