To boost the adoption of NFTs, Arsht Center has collaborated with the New World School of Arts. This association will bring together three graduates from the Arts School who will create NFTs for the Lasting Impressions event, which will complete its run at the center this week.
The three graduates who have been selected for creating NFTs are – Alian Martinez Rives, Ruth Burotte, and John Medina. Each of these artists has individually come up with three NFTs created three pieces of the digital work that will subsequently be minted to NFTs. One of these NFTs is the gold NFT has been created by each artist, and proceeds from their sale will go to the accounts of artists. Silver NFTS (100 in number) will get distributed among the guest of Lasting Impressions and the public via a lottery system.
All viewers who will become part of the event get an opportunity to claim bronze NFT. The artworks pertaining to both the silver category and bronze category will be available towards the end of month July, and revenue made through selling these digital artworks will be distributed among stakeholders. NFTs represent digital artwork, and the category is gaining traction among artist due to its capability to provide them exclusive rights to their artistic work.
The efforts of Arsht Center and True Tickets are making sure that the process of minting NFTs should cause minimum damage to the environment. For this, only Gold NFTs will utilize the protocol of Proof-of-Work, and the rest of the silver and bronze artwork will go ahead with the Proof-of-Stake mechanism, a measure that uses a way less energy than the Proof-of-Work protocol.