Swisscom AG, one of the largest telecommunications providers in Switzerland, has introduced a new approach to using non-fungible tokens (NFTs).
Swisscom AG’s latest Ethereum blockchain-based, ERC-721 smart contract-enabled product, called Noow, will reportedly be used to showcase and certify artwork and only the owners and creators of the artwork will know how many pieces have been distributed. The digital certificates of authenticity, issued through smart contracts, will be easily transferable between buyers and sellers.
Independently Distributing and Financing Artwork
The Noow app has been developed by Dloop AG, a Zug, Crypto Valley-based firm which was initially launched through Kickbox, Swisscom’s accelerator and project incubator.
According to local news outlet Greater Zurich Areas, Dloop AG’s app allows artists to independently distribute and finance their digital artwork. The distributed ledger technology (DLT)-powered Noow app will be integrated into Swisscom TV, in order to introduce digital artwork to mainstream TV viewers.
As detailed by local sources, the digital art will be featured on screens located in Switzerland-based business offices, upscale restaurants, and hotel lobbies. The “changing sequences or animations” of the digital art pieces “create a unique ambience,” local news outlets explained. However, this type of artwork has not always been properly protected from being used without the consent of their creator or owner.
“Guaranteeing Ownership Rights for Buyers and Payment for Artists”
In order to prevent the digital art pieces from being used illegally, or without the permission of their owner, the copyright protection information will now be managed using Noow app’s blockchain-enabled solution which has been designed to “guarantee the ownership rights for buyers and payment for artists.”
As mentioned in a press release, published on Swisscom’s official website (on May 22, 2019), Noow will be available (starting May 23) as an app “exclusively on Swisscom TV (UHD-ready TV-Box from Swisscom).” The new DLT-powered app will include “100 works by 30 international artists” which will be selected by curator Stefanie Marlene Wenger.
Commenting on the initiative, the release noted:
This is about more than creating a virtual gallery; the next step will be to include curated exhibitions on the platform and a close collaboration with galleries.
Currently, Swisscom TV features more than 300 channels, which includes a large selection of films, sports and drama series and various on-demand shows. Swisscom TV also offers its customers different apps, which now includes the Noow app – allowing users to enjoy a wide selection of artwork from their living room.