Lithium Finance: Wisdom Node Highlight #4
Last week, we got a chance to speak with Tu, one of our NFT Wisdom Nodes based in Vietnam. As an NFT Consultant & Strategist, Tu works with new NFT artists to launch their digital art across various marketplaces and also provides strategic pricing guidance for these new artists.
We appreciate you taking time out to chat
Not a problem, thanks for having me! I’ve been following Lithium Finance for a while now.
Great to hear that — so tell us more about NFT pricing
Sure. So I have been in the content and creative field for a while. I also worked extensively in the traditional art business, where I got a chance to understand the metrics used in traditional art valuation. At a high level, it is usually based on the type of materials used, artist reputation, time/effort put into delivering the final piece, and most importantly — marketing. In most cases, these are also the same criteria that I use to guide the NFT artists I work with as they start out.
Interesting, so how do the new NFT artists approach this currently?
The learning curve in this space is pretty high. At initial contact, most of these creative minds don’t even know how to upload their art to the NFT marketplaces, not to mention pricing or transacting on the blockchain. So it is a huge learning curve with lots of challenges that these artists, in most cases, are not prepared to handle.
I’ve also noticed that most traditional artists that move into NFT’s tend to set their prices using the floor/average price of their previous work in traditional art as a starting point — in some cases, this leads to a huge undervaluing of their work.
Where do you see Lithium Finance playing a role in bridging this gap?
Lithium will definitely be extremely helpful to artists, digital art collectors, marketplaces, and long-term NFT investors. Also, as NFT artists continue to need pricing guidance across their communities, I see Lithium helping them in a huge way.
I think efficient NFT pricing is a must-have for the sector to grow and reach its full potential. In certain ways, I see NFT as similar to e-commerce, where consumers can easily compare prices on multiple products and determine what suits them. To that effect, we need products like Lithium Finance that will enable the instant flow of pricing information across these digital artworks.
Your insight has been helpful — thanks a lot
My pleasure, look forward to more updates from your team!
About Lithium Finance
Lithium Finance is the first collective-intelligence pricing oracle that provides precise and timely pricing information on private and illiquid assets. Our protocol leverages crowd wisdom and the DMI-mechanism to provide pricing on hard-to-value assets such as pre-IPO stocks, private equity, and other illiquid assets.