London, United Kingdom--(Newsfile Corp. - September 8, 2021) - Vtail is a new NFT directory that promises a much-needed level of curation and the artistic touch sorely missing from the current NFT market.
"There are multiple sites offering NFTs, but what they lack is the level of care in creating and displaying genuine high-quality art pieces," said Jacob Elmon, the COO of the Vtail project. "Vtail is all about authentication and showcasing exclusive and vetted collections." The NFT platform is a brainchild of Brandon and Jacob Elmon, father and son serial entrepreneurs, with strong backgrounds in VR and fashion. In 2007, Brandon Elmon funded and developed a Vtail genesis project: a functional virtual-world and shopping experience - one of the first attempts at metaverse. Now the duo turned to NFT technology that could enable many aspects of the initial idea that wouldn't have been possible 14 years ago.
Digital collectibles and art pieces turned NFTs gained massive momentum since 2020, reaching exorbitant prices and attracting popular artists, musicians, athletes, and fashion houses. The most expensive piece to date, 'Everydays' by Beeple, sold this year for over $69million.
Once minted, the NFT technology allows for the authentication of digital art and music. It enables creators to retain copyrights. They can also gain revenues through 'rolling royalties' triggered automatically via smart contracts when collectors buy or trade digitized pieces. However, the budding industry is riddled with security issues and technology limitations. Digitizing stolen art is quickly becoming the number one problem in the NFT world. In a most recent high-profile case, hackers took over Banksy's official website and sold a fake Banksy NFT for circa $300,000.
Vtail aims to simultaneously deal with security threats while focusing on the quality of artwork and the artists. The ultimate goal, to attract big names and create a safe space for genuine artists, fashion creators, and musicians on the platform.
Among famous artists already connected to Vtail is Diablo, a 25 yo DJ, songwriter, and music producer who will be releasing 9999 NFT artworks exclusively through the platform. He is best known for his collaborations with Lil Pump, Kodak Black, Denzel Curry, and David Guetta.
Vtail v1 web3 application is already active and showcasing vetted NFTs from other directories. Version 1 of the site allows users to discover and explore the latest NFT collections, trade digital assets through Metamask, and even offset the NFT's carbon footprint thanks to Vtail's collaboration with Ecologi and the Eden Reforestation project.
The upcoming Version 2 of the applications aims to solve pressing industry issues through innovative patent-pending technology.
A common NFT problem is that minted artwork becomes publicly accessible. NFTs provide a certificate or so called 'bragging rights.' Owners also gain the ability to speculate, sell, and trade their NFTs. However, the underlying artwork usually becomes public. It is especially difficult for the music, video, and gaming industries where the release of NFTs instantly disseminates the media to everyone, regardless of the registered owners.
Vtail developers created a new way of embedding audio-video files into NFT smart contracts. The solution will also offer a layer of encryption to make NFT files accessible solely to buyers and not the public.
When successful, the technology is likely to revolutionize the NFT market and offer more opportunities and control to the creators.
Vtail v2 is also to open the market to large audiences by offering NFTs in exchange for Fiat, without users needing to obtain cryptocurrencies or operate the high-entry barrier wallets. By utilizing the 'meta transactions,' Vtail is able to effectively hide the cryptocurrency and blockchain-based backend and imitate traditional payment gateways.
The platform already secured a pre-seed investment from a family office. The Startup is also planning to launch an ICO (Initial Coin Offering) to be revealed soon. The public round of funding will be announced through Vtail social media.
Follow Vtail on social media for updates on the upcoming ICO.
Media Contact:
Company Name: Vtail LTD.
Email: support@vtail.com
Phone: - +44 20 3589 7028
Website: https://www.vtail.com/
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95897
