NFTs

Tattoos as NFTs: The Intersection of Art, Science, and Technology

Published

2 months ago

October 14, 2023

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In an era marked by digital transformation, a revolutionary change is unfolding within the artistic realm. Spearheading this metamorphosis is Blackdot, a U.S. trailblazer. Their vision extends beyond mere reinterpretation of tattoos; they’re sculpting an avant-garde approach to artistic ownership and compensation.

Endorsed by influential figures within the artistic world, Blackdot has unveiled a cutting-edge device capable of rendering tattoos which, in parallel, find a digital abode as NFTs on the blockchain. This dual format doesn’t only elevate the singularity of every tattoo but also creates a novel revenue stream for creators.

Diving deep into this marvel, Blackdot has carved its niche with what they term the “world’s premier automated tattoo platform.” Through this innovation, creators can upload their artworks into a guarded digital vault, available at each Blackdot location. The integration of blockchain ensures these designs transcend their physicality. Every imprint of a tattoo onto skin triggers a digital ledger update, guaranteeing artists their due each time their masterpiece is replicated.

The Blockdot Gallery further amplifies this transformative concept. Envisioned as a nexus for next-gen tattoos, tattoos here morph from mere expressions to Tradable Tattoo assets. These assets can be acquired, bartered, or even bestowed as exclusive digital treasures, challenging conventional notions of ownership.

For creators, the horizon seems boundless. Partnering with Blackdot empowers them to dictate their artwork’s circulation, paving the way for limited series or even singular masterpieces.

At its inception, Blackdot is flanked by industry stalwarts. Digital art maestro Tyler Hobbs spearheads the brigade, being the first to achieve Blackdot’s Certified Artist status. Alongside him, the offerings are enriched by an exclusive series from Omer Tunca, a renowned figure in the tattooing world, and art contributions from John Craig, the creative force behind The Smashing Pumpkins’ acclaimed Mellon Collie and the Infinite Sadness cover.

Beyond the glitz of endorsements, it’s Blackdot’s technological prowess that’s truly transformative. The device acquaints itself with the recipient’s skin using subtle markers. These markers are then juxtaposed with Blackdot’s expansive skin compendium to refine the tattooing nuances, a process surrounded by Blackdot’s proprietary mapping mechanism.

Echoing the sentiment around this paradigm shift is Matthew Stephens, founder of the celebrated DeviantArt platform. While cherishing the enduring charm of classic tattoos, Stephens underlines an emerging appetite for this renewed lens – a lens that enhances the traditional methods while casting a wide net of benefits for artists globally.

Even at its genesis, Blackdot’s vision spans expansively. From its Austin roots, cities like Los Angeles, New York, and Miami beckon. Their international aspirations are evident too. On the financial front, Blackdot’s promise has magnetized attention. As per financial data repositories, a notable $4.5 million was infused by FusionX Ventures in mid-2021, further buoyed by previous investments. The company remains open to forging new partnerships and seeking potential backers.

In a constantly evolving landscape, Blackdot’s fusion of art, science, and digital architecture heralds profound possibilities. Tattoos, traditionally a mark of permanence, are now dynamic entities, seamlessly bridging the physical and digital dimensions. The future of body art isn’t just being shaped; it’s being digitally sculpted.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CoinReporter.io and EUReporter.co does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Crypto

Terra Classic’s Comeback: Community Efforts Drive LUNC and USTC Surge

Published

1 day ago

November 27, 2023

Lee Thompson

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The Terra Classic community has recently made headlines with their extraordinary efforts to rejuvenate the values of LUNC (Luna Classic) and USTC (TerraClassicUSD), leading to a significant bullish trend in the market. This surge, primarily driven by dedicated community initiatives, marks a remarkable turnaround for these digital assets, particularly after a period of severe downturns.

The resurgence began over the weekend when members of the Terra Classic community saw the fruits of their labour materialize. Both LUNC and USTC, once plagued by instability, witnessed remarkable gains in their prices, overshadowing many major cryptocurrencies in growth. Notably, the stablecoin USTC emerged as a frontrunner, experiencing an explosive increase starting Sunday afternoon. According to data from CoinMarketCap, USTC’s value soared by over 150%, a bullish run that persisted into the new week. At the time of reporting, USTC was trading at approximately $0.03839.

This impressive rise in value was accompanied by a staggering increase in trading volume for USTC. Within the last 24 hours alone, USTC’s trading volume surged by 1999.65%, amounting to over $564 million. Remarkably, this volume exceeded the token’s market capitalization of around $344 million. Such a significant spike in trading activity underscores the growing investor interest and confidence in USTC’s prospects.

Parallel to USTC’s success, LUNC also experienced substantial growth. Over the last 24 hours, LUNC’s price increased by 25.4%, and its trading volume reached over $421 million. Although there was a slight slowdown, the token added a 3.32% gain in the past hour, signifying continued investor engagement and optimism.

The root of this impressive surge can be traced back to the Terra Classic community’s unwavering efforts to revive the tokens following their dramatic collapse over a year ago. This community-driven revival effort was highlighted by a recent announcement from a prominent Terra Classic community member, revealing that over 78.58 billion LUNC tokens have been burned to date. Token burning is a strategy often employed to reduce supply and increase scarcity, thereby potentially boosting the token’s value.

In a strategic move to stabilize USTC and bolster its adoption, the community recently voted to pause the minting or re-minting of USTC. This decision aligns with the broader objective to re-peg the token to the US dollar. Historically, USTC was designed to maintain parity with the USD on a 1-1 ratio through an algorithmic model. However, last year, this model suffered a significant exploit, leading to a catastrophic depegging from the USD and contributing to a prolonged and harsh crypto winter, with over $44 billion wiped out in the process.

To facilitate the re-pegging process, the Terra Classic community also voted to hire Algo Quant, an algorithmic trading firm, to oversee this critical task. Additionally, the community is considering a proposal to burn USTC tokens, further supporting the re-pegging effort.

This turn of events for LUNC and USTC is not just a testament to the resilience of the Terra Classic community but also highlights the unique dynamics of the cryptocurrency market. It demonstrates how community-driven initiatives can significantly influence the valuation and perception of digital assets. Moreover, it underscores the importance of strategic decision-making and collective action in navigating the often unpredictable and volatile world of cryptocurrencies.

As the Terra Classic community continues to navigate these challenges and opportunities, the broader cryptocurrency market watches with keen interest. The revival of LUNC and USTC serves as a compelling case study of the power of community collaboration and strategic intervention in the digital currency space. Whether these tokens will sustain their bullish trend remains to be seen, but their recent performance certainly adds an intriguing chapter to the ever-evolving narrative of the cryptocurrency market.