Datavault® and Red8 Digital, the subsidiaries of Data Vault Holdings and Red Eight Gallery, announced today that they will combine their patented pricing, yield management, NFT minting, and crypto anchor technologies into a single platform called 1571. Initially, the exchange will be available worldwide on 1571.io for mobile web, and later this year on both Apple and Google app platforms. The exchange aims to help artists and galleries unlock the full value of their digital art among a wider and emerging new audience. The launch of 1571 will provide a long-awaited digital exchange platform for emerging artists that takes into account leading cyber security, scalable network infrastructure, complete Web3.0 crypto integrations, as well as financial and regulatory practices that provide compliance, transparency, and analytics.
“Red Eight is excited to partner with Datavault® and bring our artworks into the digital realm through NFTs (Non-Fungible Tokens). In addition, the ADIO® crypto anchor technology will enable us to present our art collection in a whole new dimension and allow buyers, from around the world, to acquire more information about each piece and verify authenticity while engaging with artists, their galleries, and creative works. In our partnership with Datavault®, we look forward to helping artists and galleries globally, granting them the ability to create additional income through digital sales, while also bringing new and exciting artworks to a wider audience,” revealed Julian Usher, CEO of Red Eight Gallery.
“The exchange will provide a display of market conditions, including pricing and the historical performance of digital art, both whole and fractional. The ability to convert gallery-displayed art in London to NFTs, manage and promote the inventory securely, and digitally market and promote the inventory assists in maximising the financial yield for artists and their galleries. Our patented ADIO® crypto anchors offer unique, physical, and digital security as well as revolutionary Web3.0 anchors. In addition to preserving creation details and blockchain ownership details, they also enable artists and galleries to sell their work within their private and e-commerce networks. “We hope to foster growth within this crucial sector of our communities and economy – the arts,” said Nathaniel Bradley, co-founder and CEO of Datavault®.
The joint venture between Datavault® and Red8 Digital is based out of the Red Eight Gallery in London’s historic Royal Exchange, which was established in 1571. Apart from using Datavault®’s patented ADIO® crypto anchors for security and marketing, 1571.io will utilise the Datavault Information Data Exchange® (IDE) to showcase the dynamic pricing of NFTs in real-time. The NFTs themselves will be created using the Datavault® platform and will use the Datavault® patented blockchain technology to protect further both the artists and buyers involved in sales transactions.
Datavault®’s ADIO® audio packet technology will be used to direct potential clients of NFTs to landing pages with additional information about the piece or artist, therein creating an immersive experience for its audience whilst providing a route for Red Eight, to sell their artworks online. Red Eight will implement this technology for the first time at the upcoming Boogie Moli show hosted at the Red Eight Gallery in the Royal Exchange on Wednesday, November 9th.
The partnership between Datavault® and Red Eight Gallery will ultimately tap into the power of both companies’ platforms to mint meaningful digital artwork that can then be sold online. The initiative offers great potential for both companies as well as artists looking to raise the value and visibility of their digital art – helping to bring blockchain and NFTs into mainstream art.
The platform 1571.io will be open to galleries and their artists as a white-labelled API. Red8 Digital will be presenting this platform at the upcoming William Fortescue exhibition and book launch at Red Eight Gallery on Thursday 27th October.
Red Eight Gallery is a private art gallery located in The Royal Exchange, London. The company features artwork from some of today’s leading artists, including Banksy and Peter Blake among many others. Since its establishment in 2013 by Julian Usher, Red Eight has become one of Europe’s top pop-up galleries for selling original works created by world-renown modern artists – both established names and up-and-comers alike. Learn more about Red Eight here.
Data Vault Holdings Inc. is a technology holding company that provides a proprietary, cloud-based platform, Datavault®, for the delivery of branded data-backed cryptocurrencies. Data Vault Holdings Inc. provides businesses with the tools to monetize data assets securely over its Information Data Exchange® (IDE®). The company is in the process of finalising the consolidation of its affiliates Data Donate Technologies, Inc., ADIO LLC, and Datavault® Inc. as wholly owned subsidiaries under one corporate structure. Learn more about Data Vault Holdings Inc. here.
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