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What is TheArtClub?
TheArtClub is a decentralized marketplace for artworks, including collectibles NFT. All artworks are backed by the Binance Smart Chain.
On TheArtClub platform you can buy, sell, and trade any of these items with anyone in the world. TheArtClub aims to create a large marketplace for user-owned artworks and artists to sell their new items directly to enthusiasts.
As a collector what can I do on TheArtClub?
Trading on TheArtClub happens through a smart contract, meaning that no central authority ever holds custody of your items.
If you want to become an artwork collector with TheArtClub you can:
To start trading with your assests, you can go to your purchases page to view all of your items. If you want to sell one on the market, simply select the item you wish to sell and click “Sell”.
Users store items in their wallet of choice or an in-browser chrome extension like MetaMask.
In order to deeply understand the inner workings of the TheArtClub marketplace, you can check out the open source code for the TheArtClub smart contracts here.
Here’s a quick video introduction to buying and selling your first item on TheArtClub:
TheArtClub and the Blockchain
TheArtClub is making it easy for collectors to buy shares in artworks and to trade them in an increasingly liquid market.
TheArtClub Blockchain platform can increase the speed, transparency, and volume of art sales worldwide and democratise the sector so that artists, collectors, and spectators can benefit from this technology.
Blockchain brings trust, accountability, and transparency to digital transactions. The data can’t be corrupted by anyone or accidentally deleted, and you will benefit from both a historical trail of data, plus an instantly up-to-date record.
TheArtClub blockchain platform can coexist with other traditional applications.
Why we chose Binance Smart Chain
Binance Smart Chain (BSC), the home of BNB currency, is optimised for ultra-fast trading with fees 100+ times cheaper than other DeFi blockchains.
Some of the benefits of Binance Smart Chain include: a rich and growing digital asset ecosystem powered by Binance DEX, the leading decentralized exchange.
Cheap transaction fees that reach as low as 10 cent.
High performance with a network capable of producing a block every 3 seconds with a consensus algorithm Proof-of-Stake.
Therefore, by joining theArtClub users won’t be struggling with the actual Ethereum’s Blockchain typical issues of very high gas fee and delay in transaction confirmation.
Why and how to install MetaMask
Metamask is the most safe, trusted and secure crypto wallet.
It is the simplest way to manage your digital assets and it is the most secure way to connect to blockchain-based applications.
Metamask generates passwords and keys on your device, so only you have access to your accounts and data.
You can easily back up your data on your smartphone.
To install MetaMask, Click on the button “Connect”, in the up-right corner, and follow the instructions.
MetaMask is a digital wallet, and you will need it in order to join theArtClub. A digital wallet acts like a bank account — treat it with care and respect, and make sure you don’t forget your password or lose your seed words — we can’t stress the importance of this enough. Without your seed words, there is no way of getting access back to your wallet.
Once you’ve installed MetaMask and created your account go back to our website, refresh the page and click again the button “Connect”.
Click on the MetaMask extension button in your browser (usually located in your toolbar at the top) and “Agree” to the conditions. After accepting the conditions, a window will pop up and prompt you to create a new wallet.
As simple as that, you’ve created your vault. Congrats! But you’re not done yet.
Do not forget to make a backup of the seed words. If you don’t have a backup of your seed words, your wallet cannot be retrieved if anything goes wrong. Once you’ve made a backup (or multiples, why not!), click on “I’ve copied them somewhere safe”.
If you already have a MetaMask wallet you don’t need to register. You will use only your wallet to identify your self. Simply fill in your email for your new operations as requested.
Navigate TheArtClub.io on mobile
TheArtClub.io is Mobile-friendly and you can confirm transactions using the browser inside a Wallet app.
The button in the right-up will send the navigation directly to your wallet from your browser.
With Android devices we advise to use TrustWallet: It has already Binance Smart Chain installed and promptly can manage wallet interaction.
With iOs Apple devices we advise to use Metamask. To install Binance Smart Chain on Metamask please follow these instruction:
Enter the details for the Binance Smart Chain:
Network Name: Binance Smart Chain (You can name it whatever you want like BSC)
New RPC URL: https://bsc-dataseed.binance.org/
ChainID: 56
Symbol: BNB
Block Explorer URL: https://bscscan.com/
Your account on BSC is already created you can see it by tapping the circle in top right and use it.
A video tutorial is also available here.
What are the artworks on TheArtClub?
The artworks you find on TheArtClub are:
What do I use for payment when buying on TheArtClub?
Since the items you see on TheArtClub are backed by the blockchain, payment is also made in blockchain-based currencies, or cryptocurrencies. The payment that allows TheArtClub smart contract to run is BNB, which is the token that helps power the Binance Smart Chain. However, we’re going to support other payment currencies as well, including DAI and USDC.
What NFT is?
Non-fungible tokens are unique, identifiable digital assets whose exchange between the creator and the buyer, via the financial transaction of a cryptocurrency that and certifies ownership digitally.
blockchain technology ERC721 (NFT standard for unique tokens) and related standards enables frictionless, secure trading of digital assets to occur anywhere in the world.
Prior to NFTs, it was almost impossible to authenticate and “own” digital art or music, since it’s so easy to take a screenshot or simply download a file. Since the NFT provides a unique, unforgeable signature, owners can now prove provenance, making this type of purchase a more lucrative and realistic investment.
Can I resell my NFT’s?
Of course! In the artwork page you can find the button to offer your NFT’s for sale and choose the price you prefer.
This action requires your authorization recorded in the Blockchain and a little amount (no more than 0.5$) for gas fee is necessary to proceed.
Once a user completes the purchase you will instantly receive the amount detracting a royalty fee of 10% that will go to the artist who created the NFT’s and a fee of 10% that will go to TheArtClub.
You can offer your NFT in the Decentralized Exchange too.
What does tokenisation mean for an artwork’s crowdsale?
Tokenization is the process of converting physical (and non-physical) assets into digital tokens on a blockchain.
The concept has grown relatively popular in the cryptocurrency space and is beginning to inch its way into traditional markets as well.
By joining a crowdsale TheArtClub will give the crowdsaler a quantity of Tokens corresponding to the artwork’s percentage he decided to purchase.
Why do I receive Tokens when I join a crowdsale?
The quantity of Tokens and his value represents the participation share in the selected artwork in a crowdsale.
When the artwork is sold through a crowdsale, the earnings will be cashed by the smart contract. This amount will be distributed to the crowdsaler in proportion to the ArtCoin purchased for this artwork, net TheArtClub fee, and the Tokens will be burned (destroyed).
The crowdsaler can sell his share at the price prefers, and as well acquire more shares, directly in the artwork page.
When the profits will be distributed it’s important that the crowdsaler still has the tokens in the wallet. Therefore, please do not send your tokens outside TheArtClub. You could lose the rights to receive your profit!
Can I practise trading with my Tokens?
Of course! In the artwork page you can Buy and Sell Token for this artwork by changing your sharing percentage.
The price of the Token’s trading will affect the artwork’s purchasing price!
The difference with a traditional exchange is that here you bet on the artist success. That’s incredible!
How is the pytha artwork’s price calculated?
The artwork’s price takes into account the ArtCoin trading.
TheArtClub chose to apply an ancient calculation method: the Pythagorean theorem.
The Pythagorean theorem is a Euclidean geometry theorem that establishes a fundamental relationship between the sides of a right triangle. It consists of the formula a^2+b^2=c^2. In our case:
You can simulate the Artwork purchase price filling in the relative datas:
What if I want to create an item on the blockchain?
If you’re a creator and wish to list something on TheArtClub you can purpose us your artworks and we’ll be happy to offer them in the marketplace.
Anyway we can anticipate that never you’ll pay for gas fee with us!
What ArtCoin is?