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Avalanche Foundation launches NFT initiative

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The Avalanche Foundation has launched an initiative to support non-fungible token (NFT) artists. blog post.

Avalanche Forms Digital Artist Initiative

According to Avalanche, its initiative, titled Avissance, will consist of two parts.

The first part of this initiative includes an Artist in Residence (AIR) program that provides funding, mentorship and virtual workshop sessions for over 50 digital artists. Each artist will release her collection of NFTs on the Avalanche blockchain.

So far, Avalanche has announced three mentors. Motion Graphics girlfriend Emonee LaRussa, ALLSHIPS founder Dave Krugman, and Valhalla Chief of Staff Ryan Wen.

The second part of the program is a collaborative digital arts curation program called the Mona Lisa Initiative (MLI). This effort aims to provide NFTs to various digital art DAOs. Avalanche will also create its own permanent collection featuring specific works of art.

Avalanche is officially inviting digital artists to apply online application formThis project will be open for submissions until April 28, 2023.

State of NFTs in Avalanche

Most NFTs are currently created and distributed on the Ethereum blockchain. This is despite the fact that many competing blockchains seek to offer more lucrative platforms by promising lower fees and faster transaction times.

DApp Radar suggests that NFT trading volume reached $946 million in January 2023. Ethereum accounted for his $659 million in trading volume for the month, or 78.5% of total trading volume. In contrast, Avalanche’s January NFT trading volume was only $1.7 million, representing about 0.2% of his total NFT trading volume for the month.

Certain other blockchains such as Tezos (XTZ) and WAX (WAX) have seen volumes very similar to Avalanche, while Ronin (RON) and BNB Chain (BNB) have at least twice that of Avalanche. volume was seen. Other blockchains saw a significant increase in transaction volume.

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