Call it yet another radical development in blockchain technology or something that was eventually bound to happen in the world of NFTs. Still, in building a street art museum on the Metaverse, STREETH has opened up the doors to a whole new niche.
In a move that further dims the already faint line between the physical and digital worlds, STREETH — an amalgamation of the words Street and ETH — has revolutionized yet another art segment. With its upcoming street art museum, the company that was only founded earlier this year will succeed in pioneering the transformation of street art into the Metaverse realm.
While serving a host of goals that aim to create value for every stakeholder, the street art museum is a massive win for street artists. With the company committing to share a major portion of the proceeds with artists, these iconic artists will now see their works attaining exceptional monetary value and gather exposure from any corner of the globe while being admired through VR devices.
This first-of-its-kind street art museum also tackles another problem that street art faces. As a piece of art exposed to just about every element ranging from weather to vandalism, every street art masterpiece is prone to damages or even total washouts. In the Metaverse, however, there is no such danger. Even if the physical version of a street art piece is lost to the elements, its NFT version will always remain intact.
The marketplace also boasts of various features ranging from auctions and minting to free art gazing via VR. Giving equal opportunities to iconic established artists in the business and emerging names in the niche, the company aims to boost existing and upcoming talent.
From perishable masterpieces to NFTs with an eternal shelf life, STREETH’s marketplace serves several peripheral purposes. With a promise to distribute 80% of the income to artists and dedicate yet another chunk to social causes and charitable institutions, the company shows every intention of making a difference in the real world.
Co-founded by Marco Calamassi, the CEO, and Danilo De Rosa, the COO of the company, STREETH is set to open its new headquarters in 2022. This Miami-based office will also pave the way for more office spaces in New York and Los Angeles.
From collaborations with local civic bodies to ramp up underprivileged localities to creating a whole new platform for promising street and contemporary masters from the younger generation, STREETH has a blueprint set to revolutionize Street Art, NFTs, and the Metaverse realties.
Written in partnership with Ascend
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