General Questions
If you have any additional question don't hesitate to get in touch with us at https://t.me/zeroalpha_art.
Last updated
Was this helpful?
If you have any additional question don't hesitate to get in touch with us at https://t.me/zeroalpha_art.
Last updated
Was this helpful?
ZeroAlpha is an artwork marketplace where artists and philanthropists come together to make the world a better place, by working on the big global challenges of our time, such as climate change, world hunger or quality education.
Past century economics fostered the idea of efficient markets and despite the extensive effort taken (e.g. regulation and de-regulation), we can see insider trading, price manipulation and other fraudulent activity wherever we look. Artwork markets are especially inefficient, as it is stated throughout the . ZeroAlpha solves this through the always available transparent sale-price and the incurred cost of the associated patronage, and therefore it is the first efficient artwork market on earth. You can't beat the market, hence "Zero" "Alpha".
You can buy digital artwork in the form of a '' (in short NFT) which can not be copied or taken from you, because it resides on a public blockchain.
All artworks on ZeroAlpha can be bought at any given time, hence it is Always-on-Sale. Every buyer has to specify the re-sale price when buying the artwork. This re-sale price does determine the patronage (also called ) payed to a non-profit organization the prospective collector can select from a list (planed for ).
The first artwork with this logic we use for ZeroAlpha was '' designed, developed and implemented by in March 2019, who says about himself: "I'm a creator at heart. I helped to create the Ethereum ERC20 token standard and token bonding curves, technologies that's currently facilitating economies worth several billion dollars of value. I enjoy creating new forms of art and experimenting with ways to empower the creative industry."
ZeroAlpha operates on the xDai blockchain and accepts payments in the form of xDai, a cryptocurrency stable to the US dollar. In order to buy NFTs on ZeroAlpha, you must have xDai in your wallet, capable to interact with the xDai blockchain ().
Not at the moment. We're working on introducing payments in the form of other cryptocurrencies, such as PAN, HNY or xATS, in the near future.
No. ZeroAlpha to completely non-custodial and all financial interactions you do are done directly from your wallet under your control.
No. Because NFTs are traded in xDai they are stable in value expressed in US dollar. This might change in the future when more volatile cryptocurrencies might be used for some of the artwork, if the artist choses to do so.
NFTs, or 'Non-Fungible Tokens,' are one-of-a-kind tokens that represent a unique good or asset. They’ve been called 'crypto collectibles' because, much like trading cards, NFTs can be bought and sold by collectors. With scarcity and demand comes value—and when you add virality into the mix, NFTs representing digital art have the potential to open up dynamic marketplaces where artists can release unique artworks, and collectors can have fun buying them and provide patronage for a good cause.
The currently dominant way to look at all your owned NFTs is on the trading platforms themself, but more and more mobile wallets and browsers allow to display them as well. It is similar to Leonardo da Vinci's masterpiece "Mona Lisa", everyone can look at it when visiting the Louvre in Paris, some people have prints and pictures of it, but there is only one original, owned by the Government of France.
The artist provides the artwork and defines the initial price for it. That is totally up to the artist and can be changed by the artist as long as it it not sold to a collector.
At the initial sale the artist and the ZeroAlpha platform split the money 50/50 and there is no additional fee to be payed to the platform by the collector. When the artwork is sold to a new collector, the current collector gets 90% from the sale price, 5% go as royalty to the artist and 5% will go to the ZeroAlpha platform to promote the mission.
Every new owner has to deposit some xDai to pay for the 5% p.a. patronage - going to the selected non-profit organization - based on the proposed re-sale price. The amount for the deposit can be easily calculated by setting the date of the patronage duration. Any change to the duration of the patronage (extending, reducing, foreclosing) can be done by the current owner at any given time. If the artwork is re-sold the rest of the deposit will be automatically returned to the previous collector.
If the deposit for the patronage runs out and the current collector fails to top-up the deposit in time, the contract is foreclosing and the ownership of the artwork goes back to the artist. From there on it is handled like the initial sale and the artwork is automatically offered to new potential collectors at the original initial sale price, adjustable by the artist.
If you are the owner of an artwork and want to give it back to the artist, you have to change the duration of your deposit for the patronage to the current date. This will trigger a foreclosing transaction, changing the ownership from you to the artist.
Please get in touch with us on Telegram (https://t.me/zeroalpha_art) and we will let you know as soon as we have built that option into the next version of ZeroAlpha.
If you’re selling artwork on ZeroAlpha, you make money in three ways:
Initial sale: When your artwork is initially sold to the first owner, you receive 50% of the total payment.
Re-sale royalties: With every re-sale from owner to owner, you receive 5% royalty of the total payment.
Foreclosed triggered sale: If an owner fails to pay the patronage, the artwork is handed back to you and offered at the original initial sale price, which you can adjust. When it is sold again, you get again 50% of the sale-price.
Please in touch with us on Telegram (https://t.me/zeroalpha_art) and we will let you know as soon as we have built that option into the next version of ZeroAlpha.
As stated in the question about , the prospective collector has to define a re-sale price at the time of purchase. This is the price everyone can see and purchase the artwork at any given time.