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3space Art

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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is 3space Art?

3space Art (PACE) is a cryptocurrency token that supports a digital art platform where artists and collectors can showcase digital art in offline events and exhibitions. The platform utilizes Non-Fungible Tokens (NFTs) to identify and manage digital art, ensuring that artists and collectors receive royalties from their work. The $PACE token is part of a royalty program, aligning incentives among artists, collectors, and audiences to promote digital art.

How is 3space Art used?

The crypto token 3SPACE ART (PACE) is used for various purposes within the 3SPACE ART platform. It is the native token of the platform, which is a cutting-edge digital marketplace and community for artists, creators, and collectors to securely buy, sell, and own unique digital art pieces.

The token can be utilized for transactions within the platform, including the purchase and creation of digital art pieces. Additionally, token holders can participate in governance, providing input on future developments and strategic direction. This ensures that the community has a say in shaping the platform's growth and direction.

How do I store 3space Art?

To store 3space Art (PACE) tokens safely, it is recommended to use a cold wallet, which is a type of wallet that is completely offline. There are two main types of cold wallets:

  1. Paper Wallet: This involves generating a public and private key offline using a program and printing them on a piece of paper. The keys are printed in the form of QR codes, which can be scanned for future transactions. The paper wallet should be stored in a secure place.

  2. Hardware Cold Wallet: This is a physical device where you can store your cryptocurrency. Your crypto addresses and keys are kept in a USB drive device, and only the person possessing the USB drive can access the assets. Hardware cold wallets are preferred by many users, especially for storing large numbers of coins or tokens.

How to buy 3space Art?

To buy 3space Art (PACE) tokens, you can follow these steps:

  1. Choose a Reliable Exchange: Find a trustworthy centralized exchange where you can purchase PACE tokens. Popular options include Binance and Gate.io.

  2. Fund Your Account: Deposit funds into your exchange account using a method such as Tether (USDT) via P2P trading to avoid fees.

  3. Search for PACE: Look for the PACE token on the exchange and select it for purchase.

  1. Set Your Price: Determine the amount of PACE you want to buy and set your desired price. You can use the current market price or set a limit order.

  2. Complete the Purchase: Confirm your purchase and wait for the transaction to process.

  3. Store Your Tokens: Once you have purchased your PACE tokens, consider transferring them to a cold wallet for long-term storage and security.

Remember to carefully research the crypto information and market conditions before investing in 3space Art (PACE) tokens, as they carry high risk.

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History of 3space Art

3space Art, represented by the token PACE, is a digital art platform that aims to bridge the gap between digital art and the physical world. The platform utilizes Non-Fungible Tokens (NFTs) to identify and manage digital art, ensuring that artists and collectors receive fair compensation for their work.

The PACE token is central to the platform's royalty-sharing mechanism, which incentivizes collaboration among artists, collectors, and audiences. Artists receive a fair share of royalties when their artworks are sold or used for derivatives. Collectors also earn a portion of the royalties when they resell or utilize the NFTs they own. Additionally, audiences can participate in the royalty-sharing by attending virtual exhibitions, purchasing exhibition tickets, or engaging with derivative content associated with the artworks.

The PACE token follows the ERC-20 standard and is issued on the Ethereum network. There is a fixed supply of 100,000,000 PACE tokens, which can be stored in Ethereum wallets that support ERC-20 tokens. Users can obtain PACE tokens by buying and selling NFTs, staking in the Art Pool, or providing liquidity for Ethereum and/or Klaytn liquidity pools on decentralized exchanges (DEXs).

The token's functionality extends beyond transactions within the platform. Token holders can also participate in governance, providing input on future developments and strategic direction. Furthermore, PACE tokens can be used for various purposes such as discounts on NFT purchases, hardware wallet purchases, and digital frame purchases, as well as for minting fees and tickets to offline and online events and exhibitions.

Historical data for the PACE token is available, showing its performance over time. This includes information on its all-time high and low prices, trading volume, and market capitalization. The token's performance can be compared to similar assets with similar market capitalization, providing insights into its relative performance.

Overall, 3space Art and its PACE token aim to create a collaborative digital art ecosystem where artists, collectors, and audiences can work together to promote and support digital art, both online and offline.

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How 3space Art works

3SPACE ART (PACE) is a cryptocurrency designed to facilitate transactions and governance within a digital art marketplace. Here's how it works:

Token Functionality

The native token, PACE, serves several purposes within the 3SPACE ART ecosystem:

  1. Transactions: PACE can be used to purchase and create digital art pieces within the platform. This ensures that artists and collectors have a secure and efficient way to buy and sell unique digital art.

  2. Governance: Token holders can participate in governance, providing input on future developments and strategic direction. This allows the community to have a say in shaping the platform's growth and evolution.

Blockchain Integration

3SPACE ART leverages blockchain technology to ensure the provenance and scarcity of each digital art piece. This technology provides advanced security measures, efficient transaction processing, and a scalable infrastructure. The use of blockchain ensures that all transactions are secure, transparent, and tamper-proof.

Community Engagement

The platform prioritizes community engagement through interactive events, challenges, and rewards. This community-driven approach encourages participation and collaboration, ensuring that the platform evolves with the input and support of its users.

Art Platform Features

The comprehensive art platform includes features such as digital galleries, art auctions, and artist profiles. These features provide a seamless and engaging experience for artists and collectors, making it easier to discover, buy, and sell digital art.

Security and Efficiency

The use of blockchain technology ensures that all transactions are secure and efficient. This security builds trust among users and enhances the overall reliability of the token.

Future Developments

The project aims to further expand its capabilities, enhance user experience, and increase adoption within the digital art community. Future developments include integrating new features that promote artistic collaboration, improving online exhibitions, and exploring additional use cases for its native token.

Overall, 3SPACE ART (PACE) is designed to create a dynamic and engaging ecosystem for digital art, empowering artists and art enthusiasts to explore new creative horizons.

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3space Art's strengths

The token 3space Art (PACE) has several strengths that contribute to its potential success:

  1. Innovative Royalty-Sharing Mechanism: PACE tokens are designed to streamline and enhance relationships among artists, collectors, and audiences by enabling the equitable sharing of royalties generated from digital artworks, including derivatives and exhibition tickets. This mechanism ensures that artists, collectors, and audiences all benefit from the digital art ecosystem.

  2. Multichain Marketplace: 3space Art features a multichain marketplace with over 50 digital native artists from around the world, providing a diverse and extensive platform for digital art.

  3. Utility in Various Aspects: PACE tokens have utility in multiple areas, including discounts on NFT purchases, hardware wallet purchases, digital frame purchases, minting fees, staking pools, tickets to events, and exclusive exhibition rights. Additionally, they can be used to support artists through promotions and digital art streaming subscriptions.

  1. Strong Technical Analysis: PACE has a superior recent technical analysis compared to 96% of tokens based on trading metrics, indicating a strong performance in the short term.

  2. Community Engagement: 3space Art has an active community with various channels for engagement, including Twitter, Medium, and Telegram, which helps to foster a collaborative and supportive environment for artists, collectors, and audiences.

  3. Governance: Token holders can participate in governance, providing input on future developments and strategic direction, ensuring that the platform is shaped by the community it serves.

These strengths collectively contribute to the potential growth and adoption of the 3space Art (PACE) token.

3space Art's risks

3space Art (PACE) is a digital art platform that utilizes Non-Fungible Tokens (NFTs) to identify and manage digital art. The financial risks associated with 3space Art can be categorized into several areas:

  1. Market Volatility: The value of digital art and NFTs can fluctuate significantly due to changing trends and fashions in the art market. This volatility can lead to huge capital gains or losses, especially if the market is geared towards specific types of art.

  2. Liquidity Risks: The market for digital art and NFTs is relatively small and specialized, making it difficult to sell or liquidate assets quickly. This illiquidity can result in significant losses if an investor needs to sell their assets rapidly.

  3. Authentication Risks: The digital nature of 3space Art's assets makes it challenging to authenticate the ownership and provenance of the art. This risk is heightened by the potential for fake or fraudulent art pieces, which can significantly impact the value of the assets.

  1. Regulatory Risks: The purchase and sale of digital art are not regulated activities, which means that investors are not protected by schemes like the Financial Services Compensation Scheme. This lack of regulation increases the risk of fraudulent activities and market manipulation.

  2. Storage and Maintenance Costs: Digital art requires storage and maintenance, which can be costly. These costs can eat into the returns on investment, making it less attractive compared to other investment options.

  3. Taxation Risks: The taxation of digital art and NFTs is complex and subject to change. Investors may face significant tax liabilities, including capital gains tax, which can impact their returns.

  1. Lack of Transparency: The competitive NFT space requires unique differentiators for long-term success. However, 3space Art lacks transparency about its team members and their expertise, which can make it difficult for investors to assess the project's potential.

  2. Competition Risks: The NFT market is highly competitive, with many platforms vying for market share. 3space Art must differentiate itself and provide unique value propositions to attract and retain users, which can be a significant challenge.

These financial risks highlight the importance of careful consideration and thorough research before investing in 3space Art (PACE). It is crucial to weigh these risks against the potential benefits and to consult with a qualified financial advisor before making any investment decisions.

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3space Art's ecosystem

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3space Art’s team

  • 3space Art Team Members:
    • Founder: Erick Calderon (Founder of Art Blocks, partner with Pace Gallery)
    • Key Partner: Marc Glimcher (CEO and President of Pace Gallery)
    • Other Key Figures: Linda Pace (Founder of Artpace San Antonio, influential in the art world)

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