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Frequently Asked Questions

Some of the most frequently asked questions about the project Naija Crypto-Canvas, Crypto-Art, Web.3.0,...

Still some questions? Feel free to ask us or use ChatGPT.

About "#Naijacryptocanvas : The Nigerian Artistic Surge"

What is exactly "#NaijaCrypto-Canvas : The Nigerian Artistic Surge"?

"#NaijaCryptoCanvas: The Nigerian Artistic Surge" is both a meaningful digital exhibition & an auction showcasing the immense talent of carefully curated Nigerian artists operating in Web3.0. It is THE place to collect Fine (Crypto)-Art crafted by amazing Nigerian artists, whichever the medium.

"#NaijaCryptoCanvas: The Nigerian Artistic Surge" is also an innovative experience merging the physical and digital worlds of art. It provides a unique opportunity for the buyer of a NFT artwork, seen by the artist as a full-fledged asset, to also acquire the underlying physical work. This 'phygital' experience culminates in the total ownership of an artwork, bridging the gap between traditional and crypto-art.

Finally, "#NaijaCryptoCanvas: The Nigerian Artistic Surge" serves as a launchpad for a movement aimed at showcasing the vibrant talent of this wonderful country, Nigeria. Starting with 100 artists, this movement is undoubtedly set for significant growth.

I won an auction. How do I get the underlying physical artwork?

#NaijaCryptoCanvas aims to bridge the gap between traditional art and crypto-art. That's why we promote "total" ownership, which involves collecting both the NFT artwork and the underlying physical work if it exists. For this reason, each collector will be entitled to get the underlying physical piece delivered at their doorstep by winning the auction for the NFT. If the NFT Artwork is of a digital nature, each collector will be entitled to get a high-quality signed print under the same terms (Standard Size).

 

In practical terms, each artist will contact the collector shortly after the auction has ended to gather the necessary information for the shipment of the work. Please note that while #NaijaCryptoCanvas will be pleased to assist you in this process if necessary, #NaijaCryptoCanvas is a third party to this physical transaction and disclaims any responsibility for the transfer of the underlying physical artwork and all its consequences, which is the sole responsibility of the artist and the collector. Please also note that various taxes and duties may be due upon shipment of the artwork, which are the sole responsibility of the collector. Please see our Terms of services for details.

What payment methods can I use to place a bid?

#NaijaCryptoCanvas Auction takes place on https://foundation.app, which operate on the Ethereum blockchain.

This means that any bid has to be made in ETH.

I'm a traditional collector. First time for me in crypto-art. How can I get to participate in the Auction?

Congrats and welcome in the wonderful world of crypto-art :-) Here is a step-plan to help your onboarding.

Step 1: Create a Crypto Wallet.

 

To participate in the auction, you will need a crypto wallet to store your funds. You can choose from popular options like MetaMask, Trust Wallet, or Coinbase Wallet. Download the corresponding app on your mobile device or install the browser extension on your computer.

Step 2: Acquire Ethereum (ETH)

Once you have set up your crypto wallet, you need to acquire Ethereum (ETH) to participate in the auction. You can do this directly from your crypto-wallet. Follow the wallet provider's instructions to purchase ETH.

Step 3: Create an Account on Foundation.app

 

Visit https://foundation.app/ and create an account if you don't already have one. Follow the instructions to provide the necessary information and set up your account.

Step 4: Connect Your Crypto Wallet to Foundation.app

 

Once you have created an account on Foundation.app, connect your crypto wallet to the platform. Use the option to connect via your crypto wallet (e.g., MetaMask) and authorize access to your wallet when prompted.

Step 5: Check Your Wallet Balance

 

After connecting to Foundation.app, verify that your crypto wallet correctly displays the transferred ETH balance. Make sure you have enough ETH to place bids on the artworks you are interested in.

Step 6: Find and Select Artwork

 

Explore the #NaijaCryptoCanvas World here and find the artwork you would like to bid on. Review the auction details, such as duration, current bids, and specific conditions.

Step 7: Place a Bid

 

When you are ready to bid, follow the instructions provided on Foundation.app to submit your offer. This may involve specifying the bid amount and confirming the transaction from your crypto wallet. Ensure you understand the rules and associated fees of the auction before submitting your bid.

Step 8: Wait for the Auction to End

 

Once you have placed your bid, simply wait for the auction to end to see if you are the winning bidder. If you win, the artwork will be transferred to your crypto wallet, and the corresponding amount of ETH will be deducted from your wallet.

About Digital art, Crypto-Art and Web3.0.

What is a digital artwork?

A digital artwork is an artistic creation made using software and digital tools. Unlike traditional art, which uses physical materials such as paint, paper, or sculpture, digital art is created and stored electronically. Digital artworks can take various forms, including images, animations, videos, interactive installations, virtual and augmented reality projects, and many others.

 

Digital art minted as NFTs is part of crypto-art but should not be confused with it. Crypto-art encompasses digital art minted as NFTs but is not limited to it.

What is Crypto-Art?

Crypto-art is any form of art in which ownership, authenticity, and rarity are verified and protected using blockchain technology. Artworks are "encapsulated" within non-fungible tokens (NFTs). NFTs allow an artwork to be integrated into a blockchain, ensuring its traceability and provenance.

Crypto-art encompasses various forms of artistic expression, styles, and mediums, including digital art (2D, 3D), AI-generated art, animations, and more. However, crypto-art can also include certain forms of traditional art that are linked to a physical artwork.

Crypto-art can be bought, sold, traded, and collected on specialized platforms and marketplaces. The rise of crypto-art offers new opportunities for artists and collectors. Artists can now monetize their  artworks, reach a broader audience, and benefit from the security provided by the blockchain, while collectors can verify the authenticity, the history and rarity of art pieces.

What is Web.3.0?

Web3.0, also known as the decentralized web, is the third generation of the internet built upon blockchain technology. It aims to empower users by giving them control over their data, promotes peer-to-peer collaboration, and encourages token economies for a more equitable distribution of wealth.

Web3.0 envisions a shift from the current centralized model, where data is controlled by a few centralized entities, to a more open and user-centric model. In Web3.0, users have ownership and control over their personal data, and they can choose how and when to share it. Blockchain technology plays a fundamental role in Web3.0 by providing transparent and secure decentralized systems that enable trust, verifiability, and smart contract functionality.

Web3.0 also emphasizes peer-to-peer interactions and collaboration, enabling users to directly interact with each other without intermediaries. This promotes decentralization and removes the need for middlemen in various applications and services.

Furthermore, Web3.0 introduces token economies, where digital tokens are used as a means of exchange, governance, and value representation within decentralized applications (DApps) and ecosystems. These tokens can represent ownership, access rights, or other forms of value, and they enable new economic models and incentives for participants.

Overall, Web3.0 aims to create a more user-centric, decentralized, and inclusive internet that empowers individuals, fosters collaboration, and facilitates new economic possibilities.

What status should be given to an Art NFT which has an underlying physical artpiece?

In the realm of art, the status of an NFT can vary greatly depending on numerous factors. It could be seen as an auxiliary asset to the physical work. For example, the NFT might serve as a digital certificate of authenticity or proof of ownership, enhancing the value and integrity of the physical artwork. It provides traceability, proof of provenance, and safeguards against forgery. A NFT can also enhance the collecting experience or serve as a form of membership, for instance.

Alternatively, the NFT can also be viewed as an independent asset, having its own market and advantages. For instance, as digital entities, NFTs can be traded globally and instantaneously, without the costs or logistics associated with the transport of physical art pieces. Furthermore, they allow for novel forms of artistic expression, as artists can incorporate interactive elements, explanations, animations, or music into their digital works.

In truth, the artist's intent is crucial in determining how an artistic NFT is perceived. If the artist decides to assign significance to the NFT, which they themselves have 'minted' after performing the artistic act of digitizing the physical work, then the NFT indeed becomes an artwork in its own right.

#NaijaCryptoCanvas firmly adheres to this perspective, recognizing each NFT as a unique piece of art that stands independently, yet synergistically, alongside its physical counterpart.

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