Recap of the First Meeting between ByteNext and Artist Le Thiet Cuong

Jun 17 · 3 min read

Product Manager from ByteNext representatives — Mr. Tinh — had a meeting with Artist Le Thiet Cuong, which took place in the artist’s own gallery. With ByteNext’s purpose of gaining a deeper understanding of the painting market in Vietnam in particular and in the world painting market in general, the meeting is successfully organized. This is not the first time ByteNext collaborates with top artists in Vietnam, who have extensive experience in the field to survey the market, to understand business processes. ByteNext keeps actively inviting top artists to participate in AvatarArt’s senior advisor team for better development in the Painting NFT Market.

In the meeting, ByteNext quickly introduced an overview of AvatarArt’s model to artist Thiet Cuong. Having understood how AvatarArt works, he shared lots of common knowledge, experience and insights about the painting market in Vietnam: in terms of entering the market, most older artists are not tech-savvy; therefore technology is the biggest barrier that the AvatarArt team needs to solve. Fake paintings in the auction market in Vietnam is the second problem that needs to be resolved for the picture auction market like AvatarArt to develop. Artist Thiet Cuong also shared that the rate of speculative buyers in the auction market is about 50%, as well as some in-depth market research articles and research directions.

In the next session of the meeting, Mr. Tinh expressed the idea of ​​setting up an advisory board for the project and building a network of artists for AvatarArt, while Artist Thiet Cuong showed his support to the idea, agreed to consider to be part of the board when more information is provided before the next meeting between him and ByteNext. He also considered starting to sell some of his paintings on AvatarArt, and promised to support ByteNext scheduling with one of Vietnam top image storage centers as soon as possible. Further debate between Mr. Tinh and Mr. Cuong is about deeper details for organizing AvatarArt workshops that have the participation of top artists in Vietnam. Last but not least, Mr. Tinh showed his interest in organizing a talk show on television between ByteNext and a number of top artists in Vietnam, while Artist Thiet Cuong agreed to support ByteNext in terms of participating and finding suitable artists.

In the end of the meeting, Mr. Tinh and Mr. Cuong expressed their excitement about the direction and potential of the project. The meeting successfully took place with in-depth expertise in the painting industry and agreement on lots of plans for mid-term and long-term roadmap.

In conclusion, this is a meaningful partnership for both sides. ByteNext’s cooperation with leading artists in Vietnam is not only a huge development leverage for the project, but also a milestone marking the cooperation between traditional art and the blockchain technology. In the future, ByteNext will continue to reach out to talented artists, to carry out the mission of bringing blockchain technology to the traditional painting market.

About ByteNext

ByteNext is an AvatarArt NFT marketplace for artists that aims to build up the AvatarArt platform to support art creators worldwide to make their paintings become NFT on Binance Smart Chain, conduct auctions and transactions globally. AvatarArt will bring real-life values to the NFT space and establish storage and preservation centers at certain places. Once any painting piece is verified and stored at the centers, AvatarArt will create NFT for each piece of the art, ensuring its value the same as the real one.

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