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| VIEW EVENT INFORMATION: Pinterest |
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Pinterest Employee #1 Launches Blockchain Art Market MakersPlace |
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About the organization Pinterest:
Type: Business
Sub-Types: Website, Picture Hosting Agent, Social Networking Agent, GIF Hosting, GIF Sharing, Internet, Application Software, Telecommunication, Telecommunication Software |
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Notable Organizations: Pinterest, Techcrunch
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| Pinterest is a great place to find digital art but a terrible place to sell it. The fact that anything online is infinitely copyable makes it tough for artists to establish a sense of scarcity necessary for their work to be perceived as valuable. Yash Nelapati saw this struggle up close as Pinterest’s first employee. Now he has started MakersPlace, where creators can generate a blockchain fingerprint for each of their artworks that proves who made it and lets it be sold as part of a limited edition.
Similar to Etsy, MakersPlace allows artists to sell their creations while the startup takes a 15 percent cut. Collectors receive a non-fungible cryptocurrency token connoting ownership of a limited-edition digital print of the artwork that they can store in their own crypto wallet or in one on MakersPlace. The MakersPlace site officially launches today after a year of beta testing. |
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