on Toshareproject.it - curated by Bruce Sterling
*We’re in the days of NFT when people are visibly making everything up as they go along. There are no “best practices.”
I am excited to announce the launch of Feral File’s Ethereum bridge. It allows you to migrate a Feral File NFT from the Bitmark blockchain to Ethereum. You can then control the resulting NFT with an Etherem wallet of your choice or list it on marketplaces like OpenSea.
You can access this now if you have an edition from Reflections in the Water in your collection. (see the screenshot below for how to find the feature). You will need to pay a one-time Ethereum network fee to migrate. Feral File does not profit from this.
Find the Migrate to Ethereum button when you look at an edition from your collection.
We will initially add support for one exhibition per week, working backwards to our first exhibition, Social Codes. We should be able to go faster in a few weeks, and you can expect us to finish before the end of the year. For the technical details, we have updated our documentation to reflect our latest flows, contracts, data, and metadata.
You can leave us feedback through our #features channel in the Platform section of our Discord.
Next: Highest-Bidder and Group Auctions
In my daily work, I focus on making Feral File more accessible. To help collectors, I work with our team to make it easier for anyone (regardless of crypto expertise) to participate in our openings, to enjoy the artists and the artworks being exhibited, and to know what’s going on.
We are working on ways of collecting that remove the time pressure many of you feel during openings, and give us more information about how future exhibitions should be editioned. You will see these starting with our next show in November.
“Highest-Bidder Auctions” will be deployed for a single edition or set. These auctions probably work exactly as you think. You will have a set time period to place a bid; a new winning bid within the last 5 minutes extends the auction by 10 minutes. The highest bidder at the end of the auction wins.
“Group Auctions” allow Feral File to sell editions in a way where the price is determined by community consensus. Here’s an example of how it works:
Let’s say 100 editions of an artwork are being auctioned together at a minimum price of $75/USDC.
The 100 highest bids will win the auction and those collectors are guaranteed an edition. However, each collector only pays the price of the lowest winning bid. To participate:
1) Make a bid before the auction ends. There is no maximum bid. No information about other bids will be released during the auction.
2) You may prioritize your bid for one edition number. Assuming you have one of the top 100 bids and you are also the highest bidder for that specific edition number, you get that edition. Otherwise, you will be assigned the lowest numbered edition available after higher bids have been assigned editions.
Crypto and credit cards will be accepted for both auction types.
Our goal in implementing these auctions is to give everyone the same opportunity to collect artwork editions. Over time, we will also use the community’s bidding data to understand how to adjust edition numbers to keep pricing accessible for a wide range of collectors.
If you would like to test out the user interface to make sure we’re making the bidding process as smooth as possible, you can join the tests through our #features channel in the Platform section of our Discord.
Connect with Feral File
With all our changes, feel free to send us feedback on how they’re working for you and how we can do better. In addition to Discord, we’re also on Instagram and Twitter.
As always, I appreciate your support. Message me anytime with your questions and thoughts.
Head of Operations, Bitmark
Be Your Own Gatekeeper with Bitmark. Awarded as World Economic Forum Technology Pioneer in 2020.