Major telecommunications provider in Switzerland, Swisscom AG, has announced the launch of the NOOW app, a blockchain-based system in the background that guarantees the ownership rights for buyers and payment for artists.
According to the official blog announcement, NOOW will be available as an app exclusively on Swisscom TV (UHD-ready TV-Box from Swisscom) and will include 100 works by 30 international artists – selected by curator Stefanie Marlene Wenger.
Wenger claims this [the app] "is about more than creating a virtual gallery." "The next step will be to include curated exhibitions on the platform and a close collaboration with galleries," she added.
As it states, the NOOW app uses ERC-721 smart contracts, which are based on the Ethereum blockchain network, to certify its works of art.
The digital certificates of authenticity can be transferred by buyers and artists to new users, notes the announcement.
Last month, a blockchain-focused fintech company Bitfury Group entered into a partnership with Swiss investment fund Final Frontier in order to launch a regulated Bitcoin mining fund for institutional and professional investors.
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