Frequently Asked Questions (FAQ)
What is Ovation?
Ovation is a 1st party marketplace for non-fungible tokens (NFTs). Our NFT items are similar to greeting cards.
What is an NFT?
We have an entire article for this topic. In brief, an NFT is a special type of cryptocurrency token that represents a unique item. An NFT can represent all kinds of things but for our purposes they represent artwork and the ownership thereof.
Why is the market disabled?
We are currently in the alpha stage of our development process. We will have our marketplace open to the public when we enter the beta phase. All phases after that will be open to the public. During the alpha phase we cannot gaurantee successful transactions and it is therefore limited to a small group of approved testers who are able to interact on our market on the Ethereum Ropstein test network.
How much will Ovation NFTs cost?
Prices will vary on the Ovation NFT market. Some items will be very low cost and others will have a rarity factor or limited releases which may drive their value higher. As a 1st party market Ovation will set fixed prices for all items we offer. In accordance with the Ethereum ERC-721 standard for NFT items on the Ethereum blockchain, our items will be fully compatible with 3rd party NFT markets. The future value of our NFT items is a function of market dyanmics and is not under the control of Ovation or our staff.
Who will make the art for Ovation?
At launch we will offer an initial wave of Ovation NFT items released directly by our team. These include commissioned and custom artwork. In future releases Ovation will partner with digital artists. Please contact our team directly if you are interested in creating artwork for our marketplace. Artists can define several properties of their items for sale including price, availability, rarity, duration of sale and others.
When will the Ovation market open?
We hope to launch as soon as possible. We are targeting a public beta in Q3 of 2022. We anticipate the beta phase and public opening will be in Q2 of 2022. After that our market will continue to have version releases.
