(Rejected) Former Dharma and Harbour Employees Launch Ethereum Based Art Marketplace
The real-life use cases of blockchain-based innovations know no bounds as the crypto sphere has seen novel applications of blockchain technology in social media through Steemit, in education as seen in Odem. The application of blockchain is even more pronounced in this first half of 2020 when the world had to battle coronavirus and its effects. Through blockchain innovation, companies like Xiang Hu Bao were able to utilize blockchain in insurance claims while Hyperchain succeeded in using the technology for donation tracking. In the recent application of this technology, former Dharma and Harbour employees launched an Ethereum based art marketplace called Foundation to bolster the presence of blockchain in the art world.
The Emergence of Foundation
The new platform is founded by Matthew Vernon and Kayvon Tehranian who were both former employees at Ethereum based lending platform Dharma and Elpizo Choi, a former software engineer at security token firm Harbour. Foundation is established to give a fusion to the art world and Ethereum network through the issuing of ERC-20 tokens which represents each artist's work. Users can purchase this token to purchase items on Foundation at a later time or for trading on another market.
The first sale on Foundation will be a new clothing label, Neue Goods which was created by co-founder Matthew Vernon. A total of six items will be for sale including three T-shirts and three “mystery items” which will be revealed at a later date.
Hope for Success
Several marketplaces for specific industries are springing up by the day including Zora, an Ethereum based marketplace for tokenized cassettes. The prediction of success may be way overboard at this time but with the experience of Foundations founders, there is good hope for the project to experience a huge success. This will be another win as stakeholders in the crypto sphere await the release of Ethereum 2.0.
Image source: theblockcrypto