While non-fungible tokens (NFTs) continue to make the news, a startup tries to ensure the protection of artists by verifying their artwork.
NFTs have become all the rage lately, with auctions routinely reaching seven figures. This NFT boom has also brought with it a series of problems that continue to loom over the sector, such as theft.
A new company, CXIP Labs, has committed to solving this problem providing minting services that can be used in different markets.
Provide peace of mind for artists
The startup’s goal is to create a new NFT verification process that offers a higher level of security for both artists and collectors who invest in their works. The platform is expected to have the ability to integrate with various digital marketplaces and auction houses. Jeff Gluck, an art intellectual property attorney, is the founder of the project.
In an interview with ARTnews, Gluck stated that “the idea is that all market participants adopt this improved and standardized minting solution, creating consistency and compatibility across the industry”Gluck added that the platform is the first of its kind to attempt to solve the problems plaguing NFT’s digital artists.
Gluck was recently part of a lawsuit by the artists Smash 137 against General Motors, which sued the car company after using the artist’s work for advertisements without proper consent.
The project idea is the result of Gluck’s reaction to a Supreme Court ruling that required works of art to be copyrighted before they can be legally protected. Gluck decided that the traditional system for registering the copyright of a work of art was outdated and quite difficult to use.
He decided to create a more user-friendly online portal so that artists could register their creations without headaches. This led Gluck to change gears and use the platform as a verification service for NFTs.
The company has already started working with artists and digital creators who want to protect their pieces. Two of these artists are Lucien Smith and Jen Stark. CXIP Labs is not only teaming up with digital artists, the project is also currently working with musician Arca and fashion designer Darren Romanelli.
Another artist, Daniel Arsham, will be CXIP’s Brand Director. The official launch of the platform is scheduled for July 2021.
The post CXIP Labs startup aims to verify NFTs to protect artists was first seen on BeInCrypto.