PRISM, the new NFT marketplace from blockchain developer NuPay Technologies is officially live. This new all-purpose NFT marketplace just launched its open beta version. Notably, PRISM uses the proprietary blockchain from the company NuPay Technologies. What’s more, NuPay partnered with a number of artists to drop featured collections as part of the launch.
NFT Evening spoke to NuPay Technologies’ SVP of Marketing, Joshua Bell, about what the PRISM NFT Marketplace is looking to bring to both creators and collectors in the NFT space.
Quotes edited and condensed for clarity.
PRISM Marketplace aims to make it easier for artists and newcomers to try NFTS
In essence, NuPay created the PRISM marketplace to bring some of the experience of traditional art to the NFT space. In order to do this, PRISM is working alongside a number of renowned artists from across the world. What’s more, many of these artists’ NFT collections will feature physical items as well as real-life experiences tied to the NFTs.
As Bell tells NFT Evening, making the process of creating NFTs as easy as possible for artists was a major focus of PRISM’s. Talking about the creation of PRISM, Bell said,
“We saw ourselves as being able to address many pain points within the NFT industry. We saw many artists wanting to get into NFTs but not really knowing where to start – they found the process very intimidating.”
To that end, the NuPay team has worked hard to onboard many artists already. As a result, hundreds of artists whose work has been put on display in exhibitions across the world have signed on. In other words, PRISM is looking to make a name for itself as a home for quality digital art. Or as Bell puts it,
“We wanted to make sure that the focus was on the art and the creativity and the community as opposed to simply just creating items of value which will be traded or flipped. We’re trying to transition the art industry to the blockchain as opposed to trying to take blockchain to the art industry.”
To be sure NuPay is shaping PRISM to be something that both artists and newcomers to NFTs will find easily usable. To that end, the marketplace will accept fiat currency via credit and debit cards. And of course, it will accept several cryptocurrencies including Bitcoin and Ethereum.
PRISM brings art gallery curation and IRL experiences to NFTs
Bell goes on to explain that PRISM hopes to combine physical art and real-life experiences on its platform.
“With PRISM, it’s as much a physical redeemable marketplace as an NFT marketplace. Artists really seem to dig the idea of selling NFTs as certificates of authenticity, or alongside physical redeemables or access to private events, parties, music concerts… things like that.”
In fact, it’s that double focus that attracted artist Federico Fauli to PRISM. Telling NFT Evening about why the PRISM NFT marketplace appealed to him, he said,
“What they’re trying to build completely fits in with my exact goals for my creative career – always having this relationship between the physical and the digital world.” And [before PRISM] I couldn’t find different platforms that were offering that opportunity.”
PRISM NFT Marketplace lives on NuPay – “the world’s greenest blockchain”
Finally, one of PRISM’s unique selling points is the blockchain it uses. Indeed, PRISM uses NuPay’s own blockchain. To be sure, this has a few different ramifications.
For one thing, NuPay proudly calls its blockchain the world’s greenest. This is due to the “Proof of Ethic” consensus protocol it will soon integrate into the blockchain. To explain, this Proof of Ethic protocol will allow the NuPay blockchain to process transactions much more efficiently than Proof of Work blockchains.
Another key point is what NuPay calls “ProtectArt”. To sum up, ProtectArt makes use of exclusive state-of-the-art encryption. As a result, only the creator and the owner of the NFT will have access to the original, authentic piece. This solves the infamous issue of “right-click-save” while also protecting artists’ IP. Not to mention that ProtectArt also utilizes file-tracking techniques, allowing stolen artwork to be tracked.
All in all, PRISM is an interesting addition to the growing field of NFT marketplaces. With its focus on quality art and artists and a system of curation that prevents spam NFTs on the platform, it could well be a hit among crypto art enthusiasts. You can explore the amazing collection of NFT art on the PRISM website.