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Leading telecommunications firm Swisscom revealed its plans to distribute tokenized artwork through its Swisscom TV television network.
The product, called NOOW, will use Ethereum blockchain-based ERC-721 smart contracts to showcase and certify artworks. The digital authenticity certificates can be easily transferred by buyers and artists to new users.
NOOW has been developed by a Crypto Valley-based firm Dloop, which spun out of Swisscom’s accelerator Kickbox.
In its press release, Swisscom noted that it is now common to display digital arts on screen in places like hotels and restaurants. However, it pointed out that these works are often used illegally because of the absence of copy protection systems and distribution platforms.
“The startup Dloop intends to change this situation with its NOOW app. The blockchain solution guarantees the ownership rights for buyers and payment for artists,” the company stated.
The NOOW app allows viewers to select art pieces and buy certified copies, which will be issued in limited numbers. According to the press release, digitization has eroded the value of original art by allowing it to be copied without reducing its quality.
“NOOW is making digital art into a collector’s object and creating a value for it,” Tom Rieder, Dloop CEO, said.
Initially, 100 artworks made by 30 international artists will exclusively be displayed on the Swisscom TV box via the NOOW app. The works were chosen by curator Stefanie Marlene Wenger.
“This is about more than creating a virtual gallery; the next step will be to include curated exhibitions on the platform and a close collaboration with galleries,” Wenger stated on the press release.
Buyers will get a certificate of authenticity and can see the art on their screen. They will also know how many copies exist to give them an overview of the rarity of their piece.
“Swisscom TV is one of the first providers in the world to offer art on the TV screen. We are delighted to have Swisscom on board for this courageous project,” Rieder added.
Earlier this month, Swisscom has also teamed up with German stock exchange operator Deutsche Börse Group and Sygnum, a fintech firm, to build a new digital asset ecosystem. The collaboration aims to build a trusted and regulatory complaint financial market infrastructure for digital assets.
