Minty Art is a software platform that enables the trading and funding of art. The Minty Art platform is built on the Polygon network. According to the whitepaper, Minty aims to remove homogeneity in art and open the possibilities for creativity. Minty Art seeks to employ the utilities of the DeFi space to bring value back to the artists and reduce censorship. In this manner, Minty looks to democratize art.
The art industry faces centralized institution-dictated regulations that are similar to the finance industry. Minty believes that the existing functionalities of the art industry offer creators less value, and economic yield is controlled by centralized entities. The Minty platform empowers artists by giving them ownership over their creations. Minty uses technologies such as DeFi, blockchain, and NFTs to assist in art trading. When new art is created, the creation is minted on the Minty platform. Creators can obtain royalties from the transactions of these non-fungible tokens (NFTs).
Minty provides art collectors with the opportunity to get involved in the art creation process. The art collectors are known as Patrons on the Minty Art platform. Patrons are able to provide support and backing (Patronage) to the artists of Minty. Artists can envision their new projects and propose the same to the community who may decide to fund the project. In such a manner, Minty Art aims to provide opportunities to both creators and collectors.
MINTY is the native token of the Minty platform. MINTY is a transferable ERC-20 token. It is used to align the interests of platform users and as a medium of reward. The Minty platform collects transaction fees from the art trade made on the platform, in the form of MINTY tokens. Users can also engage in platform activities to obtain incentives in the form of MINTY. Minty users can stake their MINTY tokens and become Patrons on the platform. In the future, MINTY aims to become a medium of governance for Minty.
