NFT marketplace and gallery to launch from Trend Innovations
|Brittany Hainzinger in NFTs Wednesday, April 26, 2023|
Trend Innovations recently announced their plans to develop an NFT marketplace and gallery after combining two acquisitions which allowed them to upgrade and launch a more robust version of the company's mobile and web application InstantFAME which allows artists to publish and sell their artwork.
Trend Innovations Holding Inc. has recently announced that they will combine two recent acquisitions to upgrade and launch a more robust version of the company's newly acquired InstantFAME platform. InstantFAME is a mobile and web application, which operates in the multi-billion-dollar digital artwork marketplace for artists to securely publish and sell their digital artwork.
The plan is for Trend Innovations to use its other acquisition, the sophisticated machine learning AI system, Avant! AI (Avant), to advance the functionality of InstantFAME, including plans to develop an NFT marketplace and gallery, which would land the company in the highly lucrative and extremely popular non-fungible tokens (NFT) arena, one of the fastest-growing sectors in the crypto industry.
NFT marketplace and gallery from Trend Innovations
NFTs are one-of-a-kind digital assets that are provably unique and issued/stored on the blockchain, which is a form of digital ledger. NFTs are created in many forms, including artwork, digital collectibles, music, and even items in video games. Each "non-fungible" token contains identifying information recorded in smart contracts, and it's this information that makes each NFT unique. This uniqueness is why they cannot be directly replaced by another token and what gives the assets their value. Bitcoin, for instance, is a "fungible" token because you can trade one for another.
Online art and digital artwork sales are booming and represent an ever-growing market worldwide. Throw NFTs into the mix and there is real potential to create something special. Enter Avant AI, which presents Trend Innovations with the exciting opportunity to either incorporate a built-in NFT marketplace into InstantFAME or to develop a similar stand-alone product. Either way, the company is now armed with the technology to create a blockchain-based, decentralized, social media platform with a built-in NFT marketplace and gallery that caters specifically to creators and investors. It's a development that would exponentially broaden the company's offerings in the digital art sales industry.
Why is this significant to Trend Innovation's shareholders?
Well, Bitcoin has bolted back to around $30,000. The NFT market surged in February, topping $2 billion in total trading volume according to data from DappRadar, a 117% increase from the previous month. And that momentum remained strong last month with an additional $2 billion in total trading for a total of $4 billion in total trading during February and March alone. Grand View Research reports that the global non-fungible token market is expected to reach $211.72 billion by 2030, growing at a compound annual growth rate (CAGR) of 34.2% from 2023 to 2030. The research firm suggests the growing demand for digital art worldwide is one of the major factors driving growth in the NFT market.
Digital art refers to any artistic work or practice that uses digital technology as part of the creative or presentation process. And the online art sales market which the Company's InstantFAME platform will call home is valued at more than $13 billion globally, while in the U.S., the digital artwork marketplace is projected to reach $6.5 billion in sales this year. These figures don't include NFTs.
InstantFAME will offer artists and art lovers an opportunity to connect and grow the digital art community in a safe and social atmosphere. Artists upload their digital art to InstantFAME and then gain a following on the platform that rewards them with "likes" for their works of art, which in turn, increases the monetary value of each of their pieces, and ultimately delivers the artists a platform to sell their work.
Advancing the functionality and increasing InstantFAME's capabilities will provide a much-improved platform for digital artists. Trend Innovations will integrate Avant AI within InstantFAME to both manage and supervise monetizing the platform, as well as enhancing its cybersecurity and censuring systems.
The company's CEO stated, "Avant AI will be controlling pattern recognition censorship technology to provide a moral and safe environment for all ages and communities. It is also planned to use Avant to support NFT platforms in the future, maintaining data in the blockchain and managing inner application operations. Additionally, the Avant machine learning technology will be used to identify security requirements, pointing out cyber threats and potential vulnerabilities, quantifying critical threats/vulnerabilities, and prioritizing remediation methods."
These upgrades will demonstrate just a fraction of what the company's new powerful and sophisticated AI engine can do. And the upgrades to InstantFAME will set in motion the opportunity for Trend Innovations to become the go-to marketplace for artists, including those who create NFTs.
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