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TreeTrunk set to transform the NFT economy for artists, collectors, and influencers with new decentralized platform

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TreeTrunk set to transform the NFT economy for artists, collectors, and influencers with new decentralized platform

TreeTrunk, a ConsenSys Mesh Company, is making its ground-breaking debut this week. Tapping on a robust new NFT draft standard, the decentralized NFT platform will now give creators the power to turn their original artwork into ‘trees’ of authorized digital prints. Notably, artists will be able to create and sell their work directly on any website and earn royalties immediately on-chain without having to sell their digital collectibles.

“TreeTrunk, and the EIP-4910 draft NFT standard, deliver that for artists and collectors by liberating them from having to rely on any marketplace, even TreeTrunk’s,” said Joseph Lubin, Ethereum co-founder and founder of ConsenSys.

The NFT platform is powered by TreeTrunk’s new NFT standard draft EIP-4910. The standard is revolutionizing how artists protect their royalties. In particular, the NFT smart contract proposal is the first in the Ethereum ecosystem that will allow artists to generate royalty payments from ongoing sales of their NFTs. Creators and collectors can “HODL” their original pieces, create families of prints, and then earn income from the sales of these prints.

“When we first started working on TreeTrunk, we spoke with artists worldwide who were using NFTs to earn a real living from their art – some, for the first time in their careers,” said John Wolpert, ConsenSys Mesh executive and co-founder of TreeTrunk. He explained:

Selling NFTs as though they were the actual art and relying solely on the expectation that someone else will buy that digital record for more later is not a way to build stable income for most artists in the long run. We built TreeTrunk to turn that around, put the focus back on the art, and improve the economics for both creators and collectors. We are building a better and more resilient NFT economy that keeps artists in control of their work and rewards collectors.

Another interesting feature of the NFT platform is that it provides tools for artists to sell their NFTs on any website. All TreeTrunk NFT prints can be embedded directly into any website and purchased directly from there without redirecting buyers to a centralized marketplace. Meanwhile, license agreements are embedded directly into the NFT metadata, keeping collectors in the know of what rights they have while allowing creators to easily control their intellectual property.

TreeTrunk’s new NFT marketplace platform will go live on June 22 during NFT NYC. The launch event will be hosted at 65 Jay Street, Brooklyn, NY 11201, from 4 – 7 pm ET.

As part of the launch, the company will host an immersive NFT exhibition, including artist meet and greets with the likes of Brandon Breaux, Ishita Banerjee, Logik, Richard Jacobs, and several others. Moreover, celebrity NFT artists Nyla Hayes, Julie Pacino, Blaine Thurier, Robbie Trevino, Richard Jacobs, Sabet, Matty Mo, Diego Berro, and Rob Mars will also unveil their TreeTrunk NFTs during the event.

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Cryptocurrency

Dogecoin price could rally 20% in July with this bullish reversal pattern

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Dogecoin price could rally 20% in July with this bullish reversal pattern

Dogecoin (DOGE) looks ready to extend its rebound move despite the current crypto bear market.

DOGE’s price appears to have been painting a bump-and-run-reversal (BARR) bottom since May 11, a technical pattern that points to extended trend reversals in a bear market. It consists of three successful phases: Lead-In, Bump and Run.

DOGE/USD daily price chart featuring ‘BARR bottom’ pattern. Source: TradingView
DOGE/USD weekly price chart featuring 50-week EMA. Source: TradingView
DOGE/USD four-hour price chart featuring ‘rising wedge’ setup. Source: TradingView

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3 charts showing this Bitcoin price drop is unlike summer 2021

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3 charts showing this Bitcoin price drop is unlike summer 2021

Bitcoin (BTC) bear markets come in many shapes and sizes, but this one has given many reason to panic.

BTC has been described as facing “a bear of historic proportions” in 2022, but just one year ago, a similar feeling of doom swept crypto markets as Bitcoin saw a 50% drawdown in weeks.

Bitcoin estimated hash rate chart (screenshot). Source: MiningPoolStats
Bitcoin active addresses chart. Source: CryptoQuant
Bitcoin exchange reserves chart. Source: CryptoQuant

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FTM Begins to Retest Previous Highs As Correction May Be Over

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FTM Begins to Retest Previous Highs As Correction May Be Over

  • Fantom (FTM) seems to be retesting previous highs.
  • FTM is currently down 1.97% and is trading at $0.2845.
  • FTM could look to target $0.3501 should the mini upwards move continue for FTM.

Fantom (FTM) seems to be “retesting previous highs”, according to Michael van de Poppe. This comes as there has been a mini relief rally in the crypto market.

This does not necessarily mean that FTM has established its bottom yet, so traders should still tread with caution.

Fantom / TetherUS 2h (Source: Binance).

At the moment, FTM is one of the top 100 cryptos on CoinMarketCap’s list of most valuable cryptocurrencies in terms of market cap. FTM occupies the 59th position and this places FTM behind The Graph (GRT) in the 58th position and in front of Quant (QNT) in the 60th position.

FTM is currently down 1.97% and is trading at $0.2845 after reaching a high of $0.2947 over the last day. This price translates to about 0.00001361 BTC and 0.0002356 ETH. Things look a bit better for FTM over the larger time frames as the crypto saw a 7.89% increase in price over the last seven days.

FTM now has a market cap that stands at $722,730,787 and when looking at FTM’s 24-hour trading volume, the crypto stands at $166,580,326. This number is down 12.82% over the last day.

Fantom / TetherUS 1W (Source: CoinMarketCap)

When looking at the weekly chart for FTM/USDT, the last two weeks have closed with the FTM price higher than it was at the beginning of the week. It now looks like the current week will also end on a positive note. FTM can now look to target $0.3501 should the mini upwards move continue for FTM. This is a key level because it is also the last price that FTM fell from on the weekly chart.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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