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NFT applications beyond art  

NFT applications beyond art  

Madrid, 14 September 2022.- Alastria held its 2nd NFT Open Day, which featured presentations of three new projects led by ecosystem members: Readl.co, Ownersea (Code Contract) and ImpactumArt. The event proved extremely dynamic, with experts and participants agreeing that NFTs have many more applications outside the art industry.

The day opened with a speech by Miguel Ángel Domínguez, president of Alastria. Verónica Cebrián (Telefónica), co-leader of the Art and Digital Culture Sectoral Committee, was tasked with introducing the three projects:

– Diego Torres presented Readl – Storytelling Tools for Web3, a publishing platform created to evolve the current e-book market to a Web3 format, where content will be stored perpetually and on a decentralised basis. The platform enables direct sales between writers and consumers and rights management. A differential contribution of the project is the double minting of NFTs.

– Sergio Gallastegui Herrero spoke about Ownersea (Code Contract), a platform that brings digital identity to NFTs in order to prevent the counterfeiting of digital creations on the web. Code Contract uses blockchain to certify any creation, whether physical or digital, and logs it as an NFT with proof of authorship: an intellectual property contract that links the digital asset to its owner. This contract is drafted by a law firm specialising in intellectual property.

– Carlos Kuchkovsky shared details about ImpactumArt, a data-driven generative art project with a clear focus on sustainability. The proposal seeks to develop NFTs that can change based on dynamic data. Some of the challenges it addresses include managing and distributing intellectual property among artists, sustainability experts, data sources, creators and the platform, as well as selecting the blockchain network with the smallest environmental and social impact, in addition to calculating and offsetting carbon emissions.

Cristina Mesa (Garrigues) and Cristina Martínez Laburta (Telefónica), and Jorge Ordovás (Telefónica), leaders of the legal and technological working groups, respectively, also took part, their contributions helping to delve deeper into the challenges faced by these projects from a legal and technological standpoint. Pablo de Vargas (Auth4Art), co-leader of the Art and Digital Culture Sectoral Committee, analysed the projects in functional terms.

The NFT Open Days are an activity put on by Alastria’s Art and Digital Culture Sectoral Committee to support projects developed by our members.