MetaSilk is a DAG (Decentralized Autonomous Gallery) governed by the very artists and collectors within the ecosystem. In order to set the foundation we have traveled the world partnering with top physical and digital artists. Unconventional to Today’s formal Art Gallery, MetaSilk puts the ownership and decision making in the hands of the collectors and artists as we work to create the largest self sustaining Art Gallery Ecosystem!
MetaSilk’s founder, Derrek Hennessy, is a technology leader with over a decade of experience building, selling, and managing within startups from early stage pre-funding to hyper growth with 600+ employees and multi-billion dollar valuations. During this time he has developed a passion for collecting art and has created MetaSilk to blend the power of web3 and technology automation to provide a refreshing new model to Art Galleries. This Whitepaper outlines phase 1 and explains the foundation that is being set to ensure the future success of MetaSilk.
Setting a strong foundation is the most important step in ensuring continued success in the long run. We have made a number of strategic initial decisions and investments to establish a strong community and business model that shares a common vision for the future of MetaSilk.
MetaSilk launched early 2022 with our first focus being the community. Thinking “Community First” has allowed us to gather valuable feedback from artists and collectors to drive all of the decisions we have made to date. We also started with building the community first to set the expectation that this is and will continue to be our top priority.
As the first step in setting up our first release we traveled the world acquiring art from top traditional artists within their vertical. We safely shipped all of the art back to the United States where they were professionally framed by a CPF (A CPF is a Certified Picture Framer that is recognized by the Professional Picture Framers Association (PPFA) as a professional with a solid knowledge of proper framing methods, materials and techniques.)
***The entire portfolio will be available for review online once we have announced the details of our first release***
Please see the section labeled “Announcement of the First Release: Connecting Cultures” for more details as to how these physical assets are being used for our first release!
We made the early decision to invest in Metaverse land as we believe this is a crucial step in increasing visibility for our artists, collectors, and future releases. Acquiring land was not just for exposure but for early access in planning what is necessary to make all of our digital assets metaverse and AR ready.
Additionally, we will be developing digital art galleries to support the artists and collectors in our community who are looking to buy and sell their work. As of Today we own metaverse land within Yuga Labs’ Otherside and Fluxtopia.
From our experience in purchasing art we find it critical to meet (if possible) and learn about the Artist and their history as much as the motivation and reasoning for creating the art piece itself. As we looked across the Art NFT landscape we noticed many beautiful art pieces and stories but not as much detail about the artists themselves. Our interview series “Behind the Art” fills that gap.
Our interview series provides collectors a glimpse of the artists' story to make a more well informed decision when purchasing art.
Linked below is one of our many interviews we have and continue to produce.
Our first release “Connecting Cultures” is focused on bringing top Traditional and Digital artists together to create unique, one of a kind digital asset collaborations. Each NFT will be the byproduct of two top artists within their respective vertical.
As an example, I want you to visualize a top digital artist from Sweden selecting one of the physical art pieces within MetaSilk’s portfolio and creating a three dimensional, metaverse/AR ready masterpiece that accentuates the artistic gift of the traditional artist and themselves.
In addition to the digital collaborations we will also be leveraging this opportunity to initiate our DAO to put the decision in the hands of the collectors as to what we do with the physical art pieces that are connected to their respective NFT.
Please navigate to our release page here for more details on the upcoming drop!
While DAO like initiatives have already been applied since inception, we will be formalizing the DAO once the first release is sold out for two reasons:
1. It is imperative the DAO is established immediately post release sell out to ensure we instill balance in the ecosystem with the correct blend of collector and artist involvement.
2. We need to be sold out to establish the DAO as we want to use the group of Artists and Collectors involved in the initial release to be our source for establishing the initial set of questions, actions, and participation.
Once the first release is sold out and the DAO is initiated we will be releasing a detailed roadmap of phase II. This Phase will be focused on maturing the DAO ecosystem, formalizing utilities, establishing our footprint in the metaverse, and strategic partnerships we look to pursue to grow the business.
To close out, we would like to make it clear that our goal is to create a profitable DAO based Art Gallery Business that is driven by the very Artists and Collectors within the community… a true ecosystem.
Below you will find details as to how we will be compensating the Artists as part of our upcoming release “Connecting Cultures” and how Artists can join our release!
“Connecting Cultures”
Revenue From Release & Secondary Sales
To create a self sustaining DAG ecosystem it is imperative to be fair and just... Greed cannot exist. To start we will be equally distributing all revenue between the artists and MetaSilk. Capital received by MetaSilk will be reinvested to grow the brand, the artists, and the gallery!
How it works
Step 1
Digital Artist looks across the MetaSilk art portfolio (here) and selects an art piece that inspires them!
Step 2
Digital Artist creates a three dimensional masterpiece that is inspired from the physical art piece they selected!
Step 3
Digital Asset collaboration will be sold as editions in partnership with a marketplace!
(As of Today we are looking to partner with marketplaces like Foundation, Rarible, Super Rare, Nifty, Christie’s, or Sotheby’s. The reason for partnering with a respectable marketplace is to ensure our collectors are just as remarkable as our artists!)
I. Price point for the digital art will be agreed upon between the Artist and MetaSilk.
We understand that artists sell at different price points and want to make sure you are comfortable with the final selling price.
II. Edition count will be agreed upon between the Artists and MetaSilk.
We understand that artists have different approaches when it comes to edition releases and want to make sure it is inline with your personal brand as well!
III. The artist has full control as to what they create as long as it is a three dimensional metaverse/AR ready digital creation!
As of Today we own land in Yuga Lab’s Otherside Metaverse as well as Fluxtopia’s metaverse. We will provide the requirements from their SDK to ensure they are compatible.
