Quote from: tweetious on July 14, 2025, 11:04:49 PM

Could you please elaborate on the bold sections above?

How does the physical artwork get destroyed by just scanning the NFC chip?

Sure -

The unredeem/destroy processes is actually on the back (similar to legacy Cryptoart). When you pull a sticker off the back it tears the paper and make it really obvious that it can't be sold.

The NFC chip in front give you some quick public info about the art piece.

Quote from: tweetious on July 14, 2025, 11:04:49 PM

How will the new owner of the NFT (after the original owner sells/transfers the NFT) obtain the physical? ("the same numbered physical without concerns over shipping and provenance"). Will you print a new physical artwork with the same number and ship it to the new NFT owner?

Exactly. After the new owner buys the NFT, they can redeem a new physical (with the same number) at cryptoart.com. There is small reprint/shipping fee, but our goal is to keep that down. BTW- this process has been happing in the gallery/print world forever. If a gallery accidently damages a print, they can get it reprinted from the publisher. The publisher requires proof that the original was defaced however (usually by tearing the corner).

Quote from: tweetious on July 14, 2025, 11:04:49 PM

In case the original owner of the physical artwork (who sold the nft) keeps the physical as is (without the nft & also without physically destroying the artwork), will there be 2 physicals of the same artwork & number in existence? (one that contains the nft, and one without)?

If you sell the NFT without unpairing it (destroying the physical) it remains paired forever. A new physical can never be created/redeemed.

FYI - This is reflected in the NFT's metadata (redeemable = TRUE/FALSE). You can lookup any NFT in the collection on our supply page and determine if it is redeemable.

One last point, I know this can be a little confusing. Soon most of this will be abstracted away. It's possible to make all this work without the user even knowing they are using a token/NFT in the background. It will work like this:

1)

User: Go to cryptoart.com (or any gallery/artist using pairable tokens)
Background: Prices of the art pieces are dynamically generated based on floor prices of NFTs in the aftermarket.

2)

User: Buys the art with a credit card or whatever
Background: Cryptoart.com buys the NFT, updates the metadata (to reflecting it being paired), and ships the art piece.

3)

User: Enjoys the physical for years without even thinking about NFTs. However, the user can occasionally scan their art piece and get a real-time value if they were to sell it.

4)

User: Decides to sell, pulls a sticker off the back (destroying it), scans the revealed QR code, and confirms the sale of the NFT.
Background: The NFTs metadata is reset, and the NFT is sold at the floor price. This part is super easy if the user has a web3 wallet, but there is no reason the gallery couldn't sell the NFT and distribute the proceeds to the owner. Now that the NFT is back in circulation, the process begins again.

In summary,

- There can be only on physical
- If there is a market for the art/NFTs, the collector can instantly sell
- Collectors never need to worry about physically shipping anything
- Buyers always know they have an authentic art piece in perfect condition, and it is shipped directly from the gallery/artist.
- NFTs are used to help people collect physical art and can be completely abstracted away

This is the way NFTs should be used. It's what I'm working to build. Wish me luck!