SIGN Art 2.0 Relaunch Proposition

WavesDAO Funding Proposals
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Following my first post here on the powerDAO forum few weeks ago, we have decided not to push any funding request for voting by then and instead spent the necessary time analysing and working on a new, comprehensive plan to support SIGN Art.

The new version of the marketplace will include a wide range of changes that we believe will bring added value and attract more users to the platform. It will also introduce a new token with improved tokenomics and more use cases.

we have created a detailed document describing the plan, and we invite you to review it to get all the details. Here is a summary of the proposed changes:

1 - New token $ART and IDO
2 - Allocation of 200,000 $ART to SIGN holders
3 - Allocation of 200,000 $ART to Waves DAO
4 - Extra Bonus for Waves DAO
5 - Accepted assets, Service fees and commissions
6 - New open non-curated access
7 - Standard structure for external NFTs
8 - New public moderation
9 - New decentralized curation
10 - Access to the 3D gallery for everyone
11 - Integration of BAI AI Image Generation
12 - $ART cashback for every NFT minted/collected
13 - Public Agent Feature
14 - Shifting towards a more community-driven project
15 - Service fee & Commission breakdown

FULLY DETAILED DOCUMENT AVAILABLE HERE

To provide some numbers on SIGN Art, the platform started in February 2021 as the first NFT marketplace on Waves. It had a successful launch and attracted a good number of artists from other networks and marketplaces. Currently, the platform has 850 curated artists, with 7,160 creations posted and over 7,400 sales.

SIGN Art generated $1,400,000 in sales in 2021/2022, resulting in approximately $140,000 in project benefits. Unfortunately, all these benefits were completely lost due to the Vires situation.

SIGN Art already offers a range of impressive features, some of which are unique. These include an Ethereum gateway, a 3D room experience, Images detection and custom licenses per NFT.

The platform also collaborates with a network of 13 Art Campuses and has organized several events, with the most recent one taking place in April 2023. These achievements are noteworthy, considering the challenging situation on the Waves network.

In 2021, SIGN Art activities and popularity did bring the $SIGN token to a market capitalization of around 7M$.

This relaunch proposition represents our final attempt to save the platform. If the Waves community decides it is not worth pursuing, we will respectfully close the entire SIGN project. However, we sincerely hope to avoid this option and open the discussion here, requesting all DAO members to consider our proposition and support it.

The total requested amount is $37,500 USD in Waves, and it will be split into two separate requests. The first request will be for 10,000 Waves, starting on July 21.

If the overall proposition is accepted and both requests are approved, the implementation of the proposed changes will commence in September. The goal is to relaunch a preliminary version of SIGN Art 2.0 by the end of Q4 2023 or early Q1 2024, with some of the main changes already implemented. The remaining changes will be added progressively thereafter. The public token sale will be scheduled slightly before the relaunch.

2 Likes
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Hello! Thanks for your proposal, it looks reasonable and I wish Sign Art project recovers at its best! According to your plan, when do you expect the DAO to receive ART token and when do you plan the distribution to SIGN holders? Think it’s important to evaluate the market value. Thanks.

Vladimir

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I wish you great success with the relaunch! I love SIGN Art very much, I wish you great growth!

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Thanks for the comment, the plan is to have the public sale a bit before the official relaunch which should be around end of Q4 2023 or early Q1 2024.

Ideally all token would be distributed at public sale start which would start all locking/ vesting periods.
We may consider add a possible vesting period on the public sale too if this would make more sens to the community.

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Thank you for the support, really appreciate it.

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Good to know! Best Wishes.

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Thank you for the kind words

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Hi Everyone, here is an update on the SIGN progress:

The new version of SIGN Art is currently on testnet and being developed locally, among the already done tasks are:

  • Transitioned to a non currated marketplace, anyone can create an NFT
  • All service fee have been aligned to 8% (vs 10/7% before)
  • 3D Gallery now accessible to everyone for NFT created on SIGN Art (vs only approved artists before)
  • New token $ART now replace $SIGN
  • New public moderation system implemented
  • Public agent feature implemented
  • Accepted assets on the platform are now: $ART, USDT-PP, USDC-PP, Waves, Puzzle, ETH and East
  • All platform commissions in any asset are automatically converted in $ART through a puzzle custom pool

What remain to do:

  • $ART cashbask system for $ART holders
  • Defining a Standard structure for external NFTs
  • Integration of BAI’s image generation
  • Decentralized curation (this will come later based on platform activity)

What is currently worked on:

Defining a Standard structure for external NFTs:
With the inclusion of non-curated access on SIGN Art 2.0, we will also work on establishing a standard for any NFTs minted on the Waves ecosystem outside of SIGN Art. This will allow them to be added for sale on the SIGN Art secondary market. The proposed standard is as follows: every NFT will require a data entry on the issuer’s account, strictly adhering to the key structure: std_nft_{nftid}_metadata
The corresponding value should be a JSON object containing the mandatory properties of name, description, external_url, and image (IPFS hosted). Additionally, there may be some optional attributes.
Please note that this is just an example, and the final implementation may differ after careful consideration and research to best accommodate the SIGN Art 2.0 platform.

Conclusion

There is more smaller adjustment and changes to work on aside of these.
The token sale have no defined date yet, as it is a solely Waves project we are waiting for some better conditions on the network. We may consider reduce the amount allocated for the token sale based on the result of previous sales as well if this make sens.

All these changes should be considered as the first phase of a transition to an open marketplace but we may need in future to see further than this. NFT is evolving and focusing only on NFT Art may not be the best strategy if this don’t regain the same traction as it had before.

If the relaunch and token sale is successfull, adding support for audio and other formats in future could be considered.

Also the possibility to merge with the NFT Ticketing app already created for a previous Waves Hackathon https://waveshack.sign-art.app/ if this make sens.
In my opinion it is a pitty that there was not more interest in supporting this NFT Ticketing project as it is one of the real use case for NFT that could last in time according to several reports and the MVP was pretty well advanced.
You can also watch the full presentation of the MVP in video here:
https://www.youtube.com/live/F86WZj6uKec?si=NbGJXMUtQpMDa_Xj&t=1253
This would require to finish the MVP and merge it with SIGN Art.

Possibility to extend the Ethereum gateway to also accept all Waves NFTs vs SIGN Art NFT only currently could be considered as well.

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Looking forward to this relaunch! If I hadn‘t gambled away hundreds of Bitcoin years ago, I would support the heck out of Waves projects…