Startup News Magazine

Jumbish targets NFT-enabled sales in ArtWorld for better Value Creation

Onboards Galleries & Curators for PHYGITAL ARTWORK NFT sales

September 29: Jumbish, the technology-enabled art platform which leverages Blockchain to maximize returns to the stakeholders in the art world, has roped in galleries and curators to enable non-fungible tokens (NFTs) in physical artforms along with digitals arts, thus promoting a Phygital platform in reality. While the curators will build authenticity into NFT-enabled online and offline sale and purchase of artwork, the artworks of galleries will also be issued unique digital tokens for transparency and value creation in the system.

The e-commerce platform dedicated to artwork has onboarded galleries like Arts of the Earth, Art Lounge, Ruki Art Gallery, and Drishya Foundation. The choice of the art galleries has helped Jumbish to focus on the entire spectrum of art, from contemporary and traditional art forms to myriad folk and tribal art traditions in art. Showcasing the artworks on the NFT-enabled platform of Jumbishhelps create history for both physical and digital art forms, whereas selling on the platform help create outreach to the much-needed client base and appreciators of art. Digital token applied to all artwork help it retain its identity and is a security against any copy or fake transcript of the same.

Bibhas Banerjee, Chief Value Officer (Director) of Jumbish Creations, said, “It has been our aim to position artwork with proper value propositions to buyers and collectors so that the stakeholders can maximize returns in the art world. It is important to exchange artworks with NFT attached to it, so that the value addition can be compared and distributed to the original creators. That is why we promote Phygital—both physical and digital artforms with NFT enabled transactions.”

“We have enough supply of artwork; what we are looking for is to make the buyers more aware of the technology platform that can help them to buy authentic artform. Association with galleries assures the buyers of the physical presence of the artwork, even if they buy NFT-enabled online platforms. In a similar fashion, we have curators who help evaluate the individual artworks that get listed with us. We have covered the geographical distance with buyers and collectors through Jumbish, but we need to clear the psychological distance of buying artwork with NFTs,” he added.

Rahul Chakraborty, Co-Founder & Creative Director of Jumbish, said, “Artworks whose record is maintained over a decentralized platform makes it immutable while preventing them from duplicity and piracy. Change of ownership enables Royalty to creators, and the owner obtains the artwork, which establishes sole ownership of the authenticated artwork making the artwork priceless in the long run. Very few platforms include physical arts to be NFT enabled; Jumbish aims to go Phygital in a bullish manner.”

Incidentally, Jumbish brought in the tech versatility of Industry 4.0 voluntarily to change the art marketplace while positioning itself as the most authentic global art exchange platform that can create a difference for investors, curators, customers, and artists in a highly competitive art marketplace.

Jumbish has reigned in Lubna Sen, an art curator, consultant, and independent art researcher, along with Sangeeta Gupta, the retired chief commissioner of Income Tax but an artist and filmmaker in her own right to certify, comment, and curate the artwork listed for online sales also.

Diversity of Art under the ambit of Jumbish is not only limited to paintings, sketches, or installations but also has variable pillars like doodles, cartoons, and Physical + Digital = Phygital arts under its banner. Jumbish helps modern-day customers build up their digilockers consisting of Phygital artworks that use blockchain technology to bridge the digital world and the physical world with the purpose of creating unique interactive experiences for the viewer and the owner.

Shankar Mridha, Chief Believer & Co-founder Jumbish, added, “We need to create value for the art owners and appreciators through a differentiated service beyond what a gallery offers them. Technology-led innovations like NFTs attract offline customers also as a value-added proposition. Jumbish will surely realize the dream of every stakeholder in the art community to attain profitability through technology.”