Frequently Asked Questions (FAQ)
What is Ovation?
Ovation is a 1st party market-place 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 still beta?
The Ovation Market is open to the public and active on the Ethereum mainnet. We still consider this to be a beta release as we work to enable extended features for our customers. Value embedding, Card Signing, and a streamlined process for sending Ovations to non-wallet destinations. Although this is still considered beta the items are fully qualified and functional NFT items that will persist forever just like any other NFT item.
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 dynamics 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 market-place. 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 Q2 of 2022. We anticipate the beta phase and public opening will be in Q3 of 2022 After that our market will continue to have version releases.