Exchange.art COO claims the company is working on becoming a "hub for digital art."
The Solana-based digital art marketplace, Exchange.art, is preparing to extend its reach across the blockchain spectrum, announcing plans to incorporate Ethereum compatibility into its platform.
Launching on the first of August, the integration will welcome over 80 artists operating within the Ethereum ecosystem. Renowned creators, such as Patrick Amadon, praised for his "Glitch Art" sale at Sotheby's, and Amber Vittoria, are on the roster.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
What is Curve Finance in Crypto? (Animated Explanation)
Recent figures from CryptoSlam! showed that Ethereum tops the chart with a 24-hour non-fungible token (NFT) trading volume of $11.9 million. On the other hand, Solana, while not far behind, trails with a volume of more than $950,000.
According to Exchange.art COO Larisa Barbu, the company aims to expand beyond Solana and Ethereum.
The vision of Exchange.art is to be a hub for digital art and then slowly, build out solutions for traditional art as well. So because that's the vision, and that's where we aim to go…being multichain is just kind of the next step in this direction.
The need to cater to artists operating on different platforms and ecosystems was another major factor driving the decision to go multichain.
Artists often face difficulties managing their work across various ecosystems and platforms. Based on Barbu, being on Exchange.art will allow them to tap into two of the most prominent NFT ecosystems simultaneously.
<Artists> would very much prefer to actually maintain only one platform and one community, instead of <always> juggling between two or three platforms, two or three communities, always updating information between the three of them, communicating with people on all of those platforms, and so on.
Since its launch in 2021, Exchange.art attracted around 16,000 artists operating on the Solana blockchain. These artists have collectively amassed $13 million in sales.
Standing by its commitment to support artists during uncertain times for royalty payments, Exchange.art recently rolled out a royalty protection standard. This initiative is designed to guarantee artists a steady income percentage across marketplaces.
