The Artist Rights Society is inaugurating its new Web3 platform Arsnl with a series of NFTS by Frank Stella on September 9. Read more from our friends at artnews.
law students on the subject. So the benefit of NFTs, which automatically send royalty payments to artists upon resale, was immediately apparent to him. “We can build in resale rights; that’s something we’ve worked, rather fruitlessly, on for decades. It will be wonderful if technology can give us what the government never would.”
The NFTs are offered in editions of 100, and they come with an exciting perk: 3D printing instructions that only holders are have the right to use to make their own Stella sculpture. Stella said that 3D printing allows for infinite reproducibility. Stella decided to work with Arsnl because he believes the platform, given its ties with ARS, will be uniquely placed to serve artists.
Compared to other NFT platforms, Arsnl’s fee is quite high. Upon the primary sale of an NFT sold on their platform, a one-time fee of 25 percent is applied. That’s a significantly higher fee than the ones on NFT marketplaces like OpenSea or SuperRare, where fees range from 2.5 percent to 15 percent.
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