Australian NFT Marketplace NFT STARS Redefines Utility of NFT Token Standard

By Stan Peterson
Published October 18, 2021 Updated October 18, 2021

Australian NFT Marketplace NFT STARS Redefines Utility of NFT Token Standard

By Stan Peterson
Published October 18, 2021 Updated October 18, 2021

The second NFT wave of 2021 is largely driven by new utility cases for non-fungible tokens and the additional functionality that companies are integrating into their NFT projects. NFT has gone far beyond being a speculative asset or a way for digital creators to monetize their work. For artists of all traits, it has become a highly versatile tool. The story of one Australian NFT marketplace called NFT STARS showcases these new advancements in the crypto market with real-life applications.

NFT STARS is a multi-chain NFT marketplace that treats its community to exclusive drops and adopts a special approach to artists. Now, the team is preparing for the launch of NFT Radio and AR Gallery, two products that offer new and engaging ways to interact with NFTs. 

NFT Radio – An NFT Revolution in the Music Industry

The NFT STARS team has announced the release of its latest innovative product – NFT Radio, a blockchain-based radio station streaming unique content that’s curated by true music lovers. Under one roof, NFT Radio unites a 24/7 radio station, an audio NFT marketplace and a creative platform for musicians, producers, DJ’s and radio hosts. The service will broadcast its own talk shows and interviews that users can listen to live or later on by browsing through the library of saved episodes.

NFT Radio will be a place for musicians and blockchain enthusiasts to express themselves and raise topics that are relevant to them. Listeners can therefore expect the talk shows to touch on issues like how to build a music career in the current technological age, how to tokenize your art and how blockchain modernizes our lives. The radio station has no set boundaries or formats. It welcomes all audio-based content and the team is ready to experiment together with the musicians.

The biggest innovation that comes with the launch of NFT Radio is the shift in relations that will inevitably occur between creators, their fan base and the music labels. The non-fungible token standard provides musicians with the tools to track ownership of their material, to program in the collection of royalties from every resale of their work and have direct access to the market. NFT also changes the way musicians promote their creative offerings.

NFT Radio promises to make a lot of changes in the music industry and open up the NFT world to a greater number of artists from many different domains.

AR Gallery – Full Immersion in the World of NFT Art 

The second product developed by NFT STARS promising to significantly change the way people interact and enjoy NFT art is the AR Gallery. It is a virtual space consisting of 7 art rooms exhibiting 190 works of art in total. The app is powered by Augmented Reality technology and superimposes text, sound and immersive graphics onto the screen of a smartphone, making the NFT world more accessible than ever before.

AR Gallery delivers a new and unforgettable way for digital art collectors to enjoy digital art. With AR Gallery on their phones, users can spend hours looking at artwork, exploring every tiny detail. NFT STARS also offers AR Gallery users exclusive access to celebrity drops through a virtual experience that’s much like buying a painting you see hanging on the wall of a traditional art gallery.

NFT STARS – The Driver Behind These Product 

All the products discussed above originate from one NFT marketplace – NFT STARS – a platform for digital artists to explore, sell, bid for and buy NFT artwork. This marketplace differs from others in that it applies a strict approach to selecting its artists. The NFT STARS team handpicks every creator featured on the platform and only holds a limited number of auctions per month, minimizing the likelihood of collectors running into low-quality work or art speculators on the platform.

NFT STARS represents artists from all domains: digital creators, photographers, contemporary abstract artists, sculptors as well as musicians. It also doesn’t limit itself to just local artists. The platform represents creators from Australia, the Netherlands, Russia, Belarus, Canada, America and Greece. In October 2021, NFT STARS hosted auctions for artists hailing from 2 different continents. Firstly, a digital artist and freelance photographer from Melbourne named Nate Hill and secondly, Maria Luneva who is a young artist from Russia. The two artists work with completely different mediums. One relies on photo manipulations while the other contextualizes natural elements. And both artists found their way to NFT STARS and its community of digital art lovers.

The marketplace was launched on the Ethereum network in July 2021 and is now expanding its operations onto Avalanche. The integration of the latter network brings multiple benefits to the NFT STARS community. The Avalanche network processes thousands of transactions per second and its consensus mechanism and technical characteristics enable users to conduct fast and low-cost transactions. Minting, buying and transferring NFTs minted on the Avalanche network will be a much cheaper experience.

NFT STARS is sticking to its goal of shifting the market’s focus from NFT speculation to digital art appreciation. The multi-chain nature of the marketplace opens the NFT world up to a larger audience and reduces the obstacles restricting entry. The project’s approach to artist selection and NFT utility is proof that there is much more value to be had from this simple 3-letter abbreviation than the tokenization of visual art.

Disclaimer The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Stan Peterson
756 Articles
Being an active participant in the Blockchain world, I always look forward to engage with opportunities where I could share my love towards digital transformation.