Digital art company Jumbish has announced the launch of a new art-focused NFT marketplace that aims to connect artists with collectors. The new platform will utilize Jumbish's 'JDAT' technology for authenticating the provenance of digital artworks.
Built using a "layer-two blockchain architecture," Jumbish claims that their technology uses less energy than competing services, allowing them to charge artists only minor "gas fees" of around $1 per piece. In addition, the marketplace will be open to trade in all currencies, not just crypto. Moreover, Jumbish is targeting Indian and Asian artists specifically – another notable point of difference when comparing the platform to its leading NFT marketplace competitors.
"With the advent of NFT in the art world, it has introduced better and safer ways to connect with art connoisseurs globally," said visual artist Madhuri Badhuri, whose art is currently being sold on Jumbish.
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Why This Trend Is Growing
- Art-based NFT Marketplaces
- Innovative NFT marketplaces like Jumbish, which prioritize the provenance and authentication of digital art while charging minimal gas fees, provide opportunities for disruption in the art world.
- Layer-two Blockchain Architecture
- Implementing more efficient and sustainable blockchain technology such as Jumbish's 'JDAT' may disrupt the current NFT marketplace industry and encourage adoption of greener blockchain solutions.
- Inclusive NFT Marketplaces
- Creating NFT marketplaces that are open to trade in all currencies, not just crypto, can disrupt the status quo of the crypto-art industry and expand opportunities for artists and collectors worldwide.
Industries Being Reshaped
- Digital Art Marketplaces
- Jumbish's art-focused NFT marketplace demonstrates opportunities for disrupting the digital art marketplace industry by prioritizing the security and authenticity of digital artwork through blockchain technology.
- Blockchain Technology
- The development of more sustainable and efficient 'layer-two' blockchain architecture like Jumbish's 'JDAT' presents disruptive opportunities to promote the adoption of blockchain technology in various industries.
- Crypto-art Marketplaces
- Jumbish's inclusive and accessible NFT marketplace model sets an example for disrupting the crypto-art marketplace industry and creating more opportunities for international artists and collectors.
