LiveArt, an art trading and analytics platform, is set to launch an NFT Membership Card that aims to transform the world of digital art collecting. The LiveArt X Card is a non-fungible token (NFT) collection that grants holders access to a range of exclusively curated art, token-gated communities, and art market insights powered by artificial intelligence (AI).
The platform was founded by former executives of the renowned auction houses Sotheby’s and Christie’s. It provides users with a range of art pricing data and market insights, along with live auction streaming and peer-to-peer art trading.
With the LiveArt NFT Membership Card, Web3 is integrated into the art-collecting experience, providing holders with access to a digital art market, free airdrops, exclusive access to LiveArt’s AI-generated artist insights, rewards in the form of their ART token, VIP access to real-world art events, and more. The ART token, which powers the LiveArt ecosystem, can be used to buy physical and digital art on the platform.
According to LiveArt, the NFT membership card is designed to “put an end to NFT flipping and speculation” by encouraging collectors to hold onto their art long-term. The platform believes that the traditional art world has always understood how long-term value is protected, and it aims to bring that same understanding to the digital art world.
LiveArt wrote in a Medium post, “The LiveArt X Card ensures that the new breed of true digital collectors are protected from fraud, scams, and flips, and at the same time gain exclusive access to important new digital artworks.”
The Ethereum-based collection will be available for pre-sale starting on April 4, with the public sale beginning on April 5. The LiveArt X Card will have a total supply of 3,500 editions.
LiveArt first launched its LiveArt X NFT platform in April 2022, and investors in the startup include Animoca Brands, Binance, KuCoin Labs, and more.
In the current market, NFT marketplaces are battling for market share amid an extended crypto winter. The market currently caters more to investors than art collectors or creators. In response, some platforms have launched features to incentivize long-term collecting and refocus the conversation on NFTs as art.
For example, in November, NFT marketplace SuperRare launched its RarePass subscription-like service. This airdrops curated crypto art to its holders once a month. It remains to be seen whether the LiveArt X Card will be successful in its mission to encourage long-term collecting and protect digital collectors from fraud and scams. However, the platform’s focus on art as a long-term investment could help it stand out in an increasingly crowded market.