A large amount of this token can be minted by a private wallet or contract.

The claim regarding the potential to mint a large quantity of ART tokens by a private wallet or contract is due to a misinterpretation of the contract’s purpose and functionality.

DeFi Scanner

We explain what’s going on – and we expect a correction from De.Fi Scanner

Contract Operation Details

First Phase

• Issuance of 475,000,000 ART tokens, divided into two sales stages.

Second Phase

• Issuance of 1,497,000,000 ART tokens, divided across six sales stages.

Each stage is designed with the issuance of ART tokens at an incrementally higher price, to protect against speculative practices and ensure the project’s stability.

For detailed information about the presale phase and its stages, please refer to the official site: Official Presale Page.

Code Explanation

Internal Call

• The _mint(user, amount) indicates that the mint function is used internally within the contract to allocate tokens to a user in a specified amount.

Balance Update Expression

• The expression _balances[account] += amount is a typical ERC contract operation that updates the user’s balance by adding the specified amount of minted tokens.

The MintToken Function

function mintToken(address user, uint256 amount) external {
require(msg.sender == _fxManager, “Invalid sender”);
_mint(user, amount);
}

This function is safeguarded by a require check that only allows the mintToken function to be called by the authorized contract manager address (_fxManager), thus preventing unauthorized token minting.

PRESALE – Smart contrakt

We would like to clarify the status of ART tokens during the Presale phase, which can be found at https://uni.decentral-art.com/pre-sale. The tokens allocated for the Presale are securely locked within a dedicated smart contract and are not transferable outside of the Presale mechanism. This design ensures that there can be no unauthorized use or premature release of tokens onto the market. The smart contract is programmed to only permit the acquisition of tokens through the official Presale process, thereby eliminating the possibility of an unexpected ‘token dump’ on the market. This measure is in place to maintain the integrity of the Presale and to protect early investors and participants.

VOTE Smart contract

Located at 0x5329ab0ee04029d5a0ad4ac09c8fa7ff010710cd on PolygonScan functions as a decentralized treasury for a company, overseeing the management of corporate funds with an emphasis on transparency and community governance.

Within this contract are stored ART and MATIC tokens, which serve a dual purpose:

1. Liquidity Provision: A portion of these tokens is reserved to ensure the smooth operation of trade on the platform, providing the necessary liquidity to facilitate transactions without delays or disruptions.
2. Corporate and Reward Funds: Additionally, the contract holds the company’s operational funds, as well as ART tokens designated for distribution as rewards to users. paid automatically through a drawing tool.

Tool

The distinctive feature of this smart contract is that the release and use of funds are controlled by token-based voting. This means that token holders have the power to influence decisions on how funds are allocated, ensuring that the community’s interest is represented in the financial decisions of the company.

By employing such a governance model, the company aligns itself with decentralized finance (DeFi) principles, promoting fairness and collective decision-making. This also increases trust among users and stakeholders, as the fund management is not centralized but is instead subject to the consensus of token holders.

In conclusion, this smart contract represents a commitment to DeFi principles, operational transparency, and user engagement, with secured funds dedicated to maintaining platform functionality and rewarding active participation.

Conclusion.

In conclusion, the highlighted contract incorporates security mechanisms and is structured to ensure that the distribution of ART tokens occurs in a controlled manner, in line with the presale phase’s intended timeline. The accusation of excessive permissions to create tokens fails to consider the entire context of the contract’s operational, procedural, and technical securities.

From Rejection to Global Success with Modern Solutions

The Challenge of Being Unknown in the Art Market

The Pain of the Artist – The modern art world can be an unforgiving battlefield for emerging artists. Countless rejections from galleries, high commissions, and geographical limitations are just a few of the hurdles that unknown artists face. Walking from door to door, they often hear that “you are not well-known enough for us to sell your work” – these are the harsh realities many painters, sculptors, and graphic artists encounter. The art market, largely focused on established names, presents a formidable barrier to new talents dreaming of international careers.

Local Limitations versus Global Aspirations

Additionally, being confined to a local market means limited exposure and opportunities. In Poland and elsewhere, local galleries and auction houses tend to promote artists who are already recognized locally, leaving lesser-known creatives overshadowed.

The Emotional and Financial Burden

The uncertainty of income is another significant burden. Gallery commissions that can reach up to 50% of the selling price, plus the logistical costs of transporting artwork, can be discouraging and demotivating, especially when profits are modest and sporadic.

Modern Solutions: The Digital Revolution in Art

NFTs and Blockchain: A New Horizon for Artists / The Pain of the Artist

Worldwide Reach Without Barriers

Digitizing artworks and selling them as NFTs (Non-Fungible Tokens) have opened up global markets for artists. Platforms like uni.decentral-art.com enable artists to sell their works without physical interactions with buyers, allowing them to reach collectors globally, regardless of their physical location.

Authenticity and Security

Blockchain technology, the backbone behind NFTs, ensures indisputable proof of ownership and authenticity of the work. This eliminates risks of forgery and facilitates the secure management of copyright.

Continuous Income from Secondary Sales

NFTs also allow artists to earn a percentage from subsequent sales of their work, providing a potential continuous source of income.

International Art Fairs and Online Exhibitions

Expansive Opportunities for Display

Participating in international art fairs such as Art Basel and Frieze, accessible online, offers artists a chance to exhibit their works to a broad audience without leaving their studios.

Social Media and Online Marketing

Building a Global Brand

A strong presence on social media platforms helps build a worldwide brand. Artists can directly engage with fans and collectors, enhancing their visibility and boosting sales.

Benefits for Collectors

Easy Access to Emerging Talents

Collectors interested in originality and innovation can more easily discover new talents on NFT platforms and through social media, which was much more challenging previously.

Security of Investment

Blockchain provides assurance that their purchases are authentic and allows them to easily prove ownership.

Conclusion

The struggle of being an unknown artist in the art market can be profound, but modern technologies and marketing strategies offer viable solutions. By breaking down market and emotional barriers, these tools enable artists not only to gain international visibility but also to secure financial stability and artistic freedom. Q&A

RWA – Real World Assets

Introduction to RWA and the Art Market

Real World Assets (RWA) is a term that has gained popularity in the context of the digital revolution, especially in relation to the art market. RWA refers to actual, physical assets that are represented in a digital form, often using blockchain technology. In the case of the art market, RWA signifies the transformation of traditional artworks into tokenized assets that can be easily traded and owned in parts.

What is Tokenization in RWA?

Tokenization in the context of RWA is the process of converting the ownership rights of physical assets, such as artworks, into digital tokens. These tokens are usually created and managed using blockchain, ensuring the security, transparency, and reliability of transactions. Through tokenization, investors can acquire partial shares in expensive artworks, previously inaccessible to the average collector.

Benefits of RWA in Art

1. Democratization of Access: RWA opens the art market to a wider range of investors, allowing them to purchase shares in artworks for a smaller amount.
2. Transparency: Tokenization and blockchain provide complete history and provenance of the artwork, which is crucial for authenticity and investment value.
3. Market Liquidity: RWA enables easier and faster transactions in the art market, as tokens are easily transferable and sellable.
4. Market Development: RWA contributes to the growth and evolution of the art market, making it more dynamic and innovative.

Challenges and Future of RWA in Art

Despite numerous benefits, RWA also faces challenges, including legal regulations, verification of artwork authenticity, and securing ownership rights. However, with increasing interest and technological advancement. RWA has the potential to further shape the art market and create new opportunities for investors and artists.

Conclusion

RWA in the world of art is not just a trend, but an important step towards the future of investment and collecting. It changes the way we think about ownership and trading of artworks, opening doors to new opportunities and solutions. As a dynamic and innovative segment of the market, RWA demonstrates how traditional assets can be transformed and enhanced through modern technologies. Q&A