Piction Network, the blockchain-powered peer-to-peer digital content marketplace, has acquired Gallery Finance in a move that will merge Gallery Finance’s innovative DeFi mechanisms and non-fungible tokens (NFTs) with the Piction Network ecosystem.
Piction Network believes that NFTs have made an evolutionary breakthrough in the world of digital art and that 2021 will be the year in which NFTs become more widely used among the mainstream public.
The acquisition of Gallery Finance, which launched last October, is a continuation of Piction Network’s market expansion phase that began in 2020. The goal of the acquisition is to improve upon Piction Network’s peer-to-peer digital content ecosystem with the integration of its decentralized governance and community-driven content creation mechanisms.
There is an ongoing shift in content creation towards the individual creators and away from the large, centrally governed platforms that have traditionally run the content industry. Creators have increasingly more control over their work and decentralized platforms like Piction Network and Gallery Finance create new opportunities and additional revenue sources for digital artists.
Piction Network will continue its market expansion strategy throughout 2021, with plans to target the ever-growing digital music market as well as physically expand in underdeveloped regions, such as Africa and Latin America. Expect to see Piction Network become a more global ecosystem this year.
About Gallery Finance
Gallery Finance is the first non-fungible token workshop and an open platform where community ideas get turned into art. All artists are rewarded for their work and are able to run custom art workshops, generate and auction off NFTs, and display art in a decentralized virtual exhibition hall.
Gallery finance aims to protect the intellectual property of all artists by always allocating 30% of transaction fees from all auctions to the original creators of NFTs.
About Piction Network
Piction Network is an open ecosystem that supports a variety of creative activities, where anyone can be a creator. Piction Network’s philosophy is that equality of opportunity should be guaranteed for content creators through low entry barriers to a digital content marketplace.
Additionally, Piction Network believes that the digital content consumer should have expanded opportunities for participation in the content marketplace, rather than just acting as the purchaser. The company aims to create an open, decentralized market for digital art that eliminates unnecessary intermediaries and provides more benefits for both creators and consumers.
To learn more about Gallery Finance visit https://gallery.finance/
For more information on Piction Network visit https://piction.network/
