NFT Grade, an application for generating condition reports for NFTs with the level of detail akin to those in traditional art markets, launches today. A co-creation by NFT infrastructure company InfiniteWorld, which announced entry into an business combination agreement with Aries I Corporation in December 2021, and artist Sean Shim-Boyle, NFT Grade brings a new level of trust and confidence to Web3 by providing unparalleled data and insights into NFTs, including energy consumption in Co2—an increasingly important component for users to incorporate in evaluating the carbon footprint of NFTs. Distinguishing itself from other platforms that offer condition reports, NFT Grade can be leveraged to evaluate NFTs across the Ethereum, Hedera, and Polygon blockchain networks.
Yonathan Lapchik, Co-Founder of InfiniteWorld, said “The high level of detail offered by InfiniteWorld’s NFT Grade product gives collectors the ability to accurately assess the real value of any given NFT, providing much needed trust and assessment tools to the NFT community.”
The model is heavily inspired by the tools already used by artists, curators, conservators, insurance companies, appraisers, and museum professionals to keep track of the changing physical condition of real world assets. NFT Grade delivers information on an asset’s smart contract code and storage platforms, breaking down technical topics and details in an easy-to-digest fashion. Introducing these tools to the NFT space brings a much needed foundation of trust to the industry and will help educate those interested in digital assets to understand the real value of NFTs prior to making a purchase.
“While there is enormous potential for NFTs to serve the best interests of artists, artist estates, foundations, museums, galleries, and auction houses among others—tools to validate acts of integrity from artifice and to distinguish the work of con-men from the sincere are needed,” said artist and NFT Grade co-creator Sean Shim-Boyle.
Wes Geisenberger, VP of Sustainability & ESG at The HBAR Foundation, has articulated, “The synthesis of NFTs and traditional art will only be possible with the advent of authentication technology like NFT Grade; we are very pleased NFT Grade is able to fill a critical role in our ecosystem as a trusted validation tool that institutions require. This is the first use case of the open source Guardian for capturing the artists’ process digitally. Through this process we can ensure authenticity as art is shared in physical and digital formats and provide new monetization opportunities for artists. There is a huge financial opportunity around proving provenance of art pieces to make sure that the quality of pieces of artwork are upheld.”
About InfiniteWorld
InfiniteWorld, part of the SUKU Ecosystem, is an NFT and Metaverse infrastructure company that enables brands and creators to create, monetize, and drive consumer engagement with digital content, and is poised to become a publicly traded company through a business combination with Aries I Acquisition Corporation, a special purpose acquisition company. InfiniteWorld has been highly sought after by brands and creators for its ability to create programs around NFTs and other digital assets that offer high level experiences and engagement for their consumers and communities.
About Aries I Acquisition Corporation
Aries I Acquisition Corporation (NASDAQ: RAM) was founded by its Chairman, Thane Ritchie. Aries is a special purpose acquisition company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
On December 13, 2021, Aries and InfiniteWorld announced that they had entered into a definitive business combination agreement. Closing of the business combination is subject to customary closing conditions including the approval of the shareholders of Aries.
Photo by Debora Pilati on Unsplash
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