NFT fans can enjoy digital visualizations associated with Picasso’ s work as non-fungible tokens courtesy of Justin Sun’ s JUST NFT Account. This initiative is Sun’ s latest attempt to bridge the gap between traditional art and its digital counterparty.
JUST NFT to Introduce Picasso’ s i9000 Work
To consider advantage of the growing demand for non-fungible tokens, Justin Sun, TRON’ s owner and BitTorrent’ s CEO, introduced a new development last month called JUST NFT Fund. Shortly after, Sun obtained a Picasso painting meant for $20 million to tokenize it on the Fund.
Earlier today, the team behind the task announced the official launch from the NFT for “ The First Collections, ” which includes Picasso’ s work, in a pr release shared with CryptoPotato .
The statement explained that the ownership of the collections is mapped to the TRON chain with the blockchain’ s TRC-721 standard. As such, it will be “ permanently stored on the TRON general public chain and BTFS, which usually marks the ‘ 1st show’ in history of Picasso’ s works on the blockchain. ”
This particular marks JUST NFT Fund’ s latest initiative to increase the number of actively engaged users with NFTs.
“ I firmly believe that in the next ten years, fifty percent of the world’ s best 100 artists and artworks will be NFTized. The JUST NFT Fund will embrace and strengthen this tendency. ” – commented Mr. bieber Sun.
The growth of the field is exemplified by the total number of sales worth almost $600 million, the announcement explained. Additionally , roughly 200, 000 pieces of encrypted art have changed hands currently.
Closing the particular Gap
The PR outlined the Fund’ s intentions to reduce the particular gap between traditional bodily art and the growing in popularity sector of NFT, described as a “ major innovation associated with blockchain technology in the field of artwork. ”
Via NFT, the digital format of any physical art work can be uploaded to the BTFS system, which generates a corresponding NFT artwork’ t BTFS address. The information will be then written into the clever contract in accordance with the TRC-721 standard, and “ the particular uniqueness of the work will be confirmed by the contract deal with. ”
Beginning with “ such important works of art” like Picasso’ s is “ very likely to break through the technology group and attract full attention in the fields of artwork, collection, investment, and financing, and then to business during these industries. ”