This Austrian NFT auction house aims high


The Austrian start-up artéQ will soon be launching its own NFT trading platform. It wants to merge digital and analog art.

The NFT hype continues to spread. Whether in music, in art or as a historical memento, the unique tokens are more popular than ever thanks to their versatility. While the big, traditional auction houses around the world were already auctioning NFT art for millions, more and more artists in Germany are also discovering the area for themselves. The cult band Scooter recently released their twentieth studio album with bonus content and fan merchandise as NFT.

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And the NFT spirit also stirs further south. The start-up starts in Austria artéQ its own trading platform in May to sell NFT art. The Austrian start-up company has set itself the goal of “creating a democratic and safe space for monetizing creative work” in order to remove obstacles that artists, but also investors, collectors and art lovers are exposed to. In addition, a separate NFT Fund is to offer investors the opportunity to invest in the creation of NFTs in order to secure shares in digital works of art.

artéQ: “NFT and analog art will merge”

Founder Farbod Sadeghian is enthusiastic about the approaching platform launch:

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My vision is to create the first community brand for analogue art in digital space with artèQ. We are paving the way for other traditional art players such as galleries, museums and auction houses to launch their collections via NFT as well. The question is not whether NFT art will merge with the analog art world, but when! Our answer is: now! We are ready to move forward as pioneers.

Farbod Sadeghian, founder of artéQ

The platform wants to move away from middlemen, such as curators or gallery owners, towards a system in which the popularity of the market decides who is successful.

Binance is planning its own platform

The tremendous attention NFT is getting is now encouraging bigger and bigger players to venture into the market. One of them is Binance. As also reported by BTC-ECHO, the world’s largest crypto trading platform wants to introduce its own NFT platform in June of this year. According to this, Binance will retain ten percent of the profits made via the platform from NFT sales in the “premium” area and at the same time want to offer users “low fees and greater liquidity” in the “standard” area. Users would only have to give one percent of the proceeds to Binance.

The fact that more and more artists, companies and well-known personalities are dealing with NFT shows the rapid development the unique tokens have undergone. Not so long ago, NFT was seen as a gimmick. It has now turned into a billion-dollar business with growing potential. Especially in times of the pandemic, non-fungible tokens act like a savior for the ailing art and culture industry.

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