Of course, we all know that art is a non-fungible asset, or do we? Sometimes the things that seem so cut and dry are simply not. Take for example a platform that issues editions of artwork but all the images are identical each edition run would be fungible at least within its run.
This total fungibility of artwork wasn’t possible in physical because of edition numbers written by hand and signatures. Now we can have the edition number on Chain and the image the same. This, however, is not the direction the BAE wanted to go in. Instead, we focused on the idea of having unique 1 of 1 work, this is better in our opinion for value however, it creates its issues with market liquidity. Think about it if you have edition 1 of 25 and 24 other people own all the others, you’ve got a higher chance of being able to trade your item up. But if you own the only one of something it is harder to value and exchange, unless the artist is highly prolific.
The less fungible something is the harder it is as an asset; you need to find the right buyer that being said generally the harder the asset the higher the possible value. I say possible because the challenge of moving a super hard asset is pretty high.
We had set ourselves on 1 of 1 but then we had a rethink we still believe that all work should be 100% unique and never the same image sold twice as an edition. At the same time, we want artists to create highly liquid mini markets around a series of their works. The solution? Easy let us look back at what I said before about physical work there are no true editions in an analogue system each one is slightly different ether due to printing or handwritten elements.
Athena by Abranches https://opensea.io/assets/blockchainartexchange-v2?query=athena
Semi-fungible that’s what art is, of course between two completely different artists it is non-fungible. Within the same artist, or series art is 100% semi-fungible and so that’s what the BAE has landed on, here is how it works; We don’t do editions per say we call them series or productions, you can have up to 100 artworks in a production they must all be the same but with at least one noticeable difference I.E each one is a different colour, a visible edition number is displayed on the front of each work. These two examples are the only ones I can think of...
Please get involved and let us know in the comments what you think another way digital art could be semi fungible asset, different colours within the series and visible editions numbers on the image are the two we use thus far.