The use of NFTs for digital art was introduced by ‘CryptoKitties’ way back in Nov 2017. Its popularity soared among blockchain and crypto enthusiasts that led to the congestion of Ethereum Network.
NFTs or Non-Fungible Tokens are a collectible digital token with ownership rights to a unique asset, in most cases linked to a digital asset like artwork, music or video. There are also projects underway to link it to a physical real-world asset.
After a brief lull in 2018 and 2019, NFTs became popular again in 2020 with approximate sales of 100M USD, followed by an explosive growth in 2021 to reach 25B! NFT promises to be an exciting investment opportunity in the future.
Despite the progress made so far, NFTs are still limited to memes, in-game digital assets, prominent digital artists and celebrities. Blockchain as a technology promises us inclusiveness and opportunity for everyone.
AFOMA plans to further the use of this technology by allowing artisans and artists from around the world, especially from developing nations, access to this technology.
ORUVAN powered by AFOMA will be the world’s first NFT marketplace with a focus on artisans and artists from around the globe, bringing them life changing opportunities. We believe that there is vast amount of unique and collectable art that is vastly undiscovered within these communities due to their lack of access to technology.
ORUVAN will create an ecosystem where these artists can partner with digital experts, mint NFTs of their unique collection and list in our marketplace hence giving them access to the global market. AFOMA token holders will have various privileges in ORUVAN, including incentives for curation and early access to these unique NFTs. It will also have a primary and secondary marketplace and artists will be able to earn revenue not only on the first sale but also in resales. As part of our roadmap, buyers could also redeem the physical item, if it exists through AFOMA supported artisanal marketplace SELLITIC which makes it different from other NFT marketplaces.
Ethnic and cultural art is one of the fastest growing markets in the world which in turn makes ORUVAN relevant and sustainable. It further enhances the core theme of AFOMA as a community centered token for artists and artisans.