There’s clearly been a lot of talk online about NFTs, or Non-Fungible Tokens, particularly in regards to the art market. Within this ever growing buzz, some innovative tech companies are arising bringing the real world into the digital/metaverse based environment. STREETH has chosen Miami as its first Headquarter to transform physical art (Street Art murals, installations, graffiti and any other medium) into an eternal, tradable, collectable piece of digital property registered on the Blockchain.
So, we know that NFTs can transform the art market; however, STREETH is changing the NFT game itself by curating, minting, and auctioning the world’s most acclaimed street artists’ masterpieces, therefore bringing the best of Street Art into the emerging NFT market.
The Big Deal About Street Art
Street Art presents unique challenges in the contemporary art market. First of all, murals are most commonly seen by passersby on the street while they go about their lives, making them different in essence from paintings on a museum’s canva. However, this also brings up risks such as vandalism, weather, and city zoning that can affect and jeopardize the lifespan of Street Art masterpieces.
That having been said, Street Art has asserted itself in past decades as a legitimate and increasingly popular art niche—countless Street Art festivals and many museums, such as the Urban Nation Museum For Urban Contemporary Art in Berlin in 2017, have emerged across the globe. There’s long been a blurry line between what people perceive as Street Art versus graffiti, but not really anymore—it is fine public art made by highly sought-after artists like Kaws, Shepard Fairy, and Retna, to name just a few.
Yet, despite its rapidly rising popularity, it is the only form that has never been monetized, traded, collected, and privately enjoyed within the massive $80 billion art market. That’s where STREETH comes in: they will provide an avenue for collectors to own and enjoy these sorts of pieces while ensuring their unicity and eternity on the Ethereum blockchain by creating Street Art NFTs, as Yahoo has recently reported.
Helping Artists Monetizing their Talent
STREETH embraces a truly revolutionary concept—street art can be traded as a digital commodity. They are the only art platform exclusively focused on auctioning and minting Street Artworks, therefore revolutionizing art collections as the art world has known them.
Yet, one of the most beautiful elements of Street Art is that it exists in urban spaces and therefore interacts with its surroundings. This concept isn’t lost on STREETH, who will be launching a museum allowing visitors to admire sold and traded Street Artworks inside a fully enabled Virtual Reality space, making them, again, the only platform to do so.
In the past, it was nearly impossible for street artists to generate sustainable income from their works, and it was complicated to guarantee street artwork rights; STREETH changes this dynamic, too. Now, you can become the legitimate owner of a fully authenticated, absolutely massive masterpiece by world-famous artists is now possible—just imagine being able to bid, win the auction, and own a mural across the world all the while being in your hometown. Even if the art piece vanishes or is vandalized one day, you will be the sole owner of its NFT version, which is fully endorsed, signed, and authorized by the artist, in perpetuity.
Social Causes and Future Plans
STREETH’s founder Marco Calamassi has shared with us their mission of fostering local communities, spreading art awareness, helping young and underprivileged talents to emerge and giving back to the cities and municipalities.
As STREETH rapidly expands in the upcoming 18 months, it will be hiring various talents such as content creators, videographers, and artists. STREETH will be opening its headquarter in Miami in 2021 and New York/Los Angeles branches in 2022.
