A digital certificate published on a permanent public ledger.
An NFT is a digital representation of a piece of artwork that's stored on the blockchain, and can be traded just like a cryptocurrency. It's provably scarce, unique, and indivisible. This means that it can never be copied, replicated, or split - only moved. Due to an NFT being stored publicly on the blockchain, it also means anyone can verify who the real owner and creator of a piece of artwork is. This provides a degree of provenance that cannot be achieved in traditional art markets.
The process of digitally signing your artwork onto the blockchain.
At Lovada we "mint" artwork off-chain to save artists on transaction fees, and to decrease our environmental impact. This means when you upload your work through Lovada, it is first digitally signed using your wallet key, and this signature is permanent proof that you created it, but it is not sent onto the blockchain unless your work gets sold. At that point, a token is created with your unique signature and that token is sent to the lucky collector to prove they are the new rightful owner.
Not yet... but we're working hard at making this dream a reality.
Currently our goal is to support all forms of digital artwork, from photography, illustration, music, 3D models, even websites, interactive animations and beyond. We are working towards supporting forms of physical art after that, however there are some kinks that need ironing out around the shipping logistics and dispute handling side of that work.
Register on the Google Form
In order to become a Lovada Creator we require you to fill out a simple Google Form which takes less than 5 minutes to complete. We want to know a bit about you, your creative practices and why you're passionate about what you do. We make no effort to make judgements on our artists' works, we just want to ensure that our artists are true creatives with passion and desire. You can fill that out here!
Create a Yoroi wallet, and buy some ADA.
Lovada uses the Cardano network asset (ADA) as the primary funding and transactional unit. This can be easily purchased from a cryptocurrency exchange, which is outlined in greater detail in this guide We also use the Yoroi browser extension to securely connect to your wallet to check your balance, sign artwork and perform bids, therefore you'll need to get the Yoroi Extension for your browser Click here for Google Chrome, and here for Firefox. Once installed, create a new wallet in the Yoroi extension, and transfer your ADA from the exchange to your new wallet. Now you're ready to go!
The Artists! Unless they choose not to...
When a piece of artwork is uploaded to the Lovada platform, the artist does not pass over any intellectual property or copyrights to Lovada, or to the future buyer, unless explicitly stated. When minting artwork, the artist can select whether they want to transfer copyrights alongside it - this can be useful in cases where the work can be used as part of larger projects i.e. a game developer buying 3D models to use as characters or maps in their game.
No! Lovada creators can sell almost anything unique.
Without getting into the philosophies of what counts as art, Lovada can be used to sell a multitude of items beyond artwork. For example, you could create a listing that issues tokens as tickets for an event. Lovada is primarily artist focussed, and it's our goal to remain that way, but we do not require every listing to be artwork. We try our best to ensure listings are relevant to our mission, and that collectors are not overloaded with content that isn't relevant or interesting to them.
Around 1-2 weeks, after launch.
We have a dedicated team member who reviews all applications, and due to an incredibly high demand this means we can only process so many applications everyday. Please do not be disheartened if your application takes a long time to be approved, we promise to get back to everybody eventually.
Our curation and regulation process is designed to prevent scam artists.
One of our core principles at Lovada is trust, that's why we manually approve new artists, ensure their work is created by them (we may ask for evidence of creation in some cases). We also use leading identity verification systems to assure that artists and collectors are real people, to prevent bot accounts or people creating multiple accounts for shill bidding (bidding on their own work to raise the price). Finally, we use advanced reverse image recognition techniques to root out any instances of artwork that may have been taken from elsewhere to prevent fraudulent users stealing works and trying to list them on Lovada for profit. This multi-layered approach helps us defend our users, and offer a high level of trust and security.
It doesn't, but we don't need them!
Cardano native assets were introduced well before smart contracts. This means that NFTs are already possible without smart contracts. We have developed a centralized payment service that communicates with the Cardano blockchain to facilitate trades for the time being, and this logic will simply be replaced by smart contracts after the Alonzo hard fork.