Over the past year, the decentralized finance (DeFi) and non-fungible tokens (NFT) markets have been the fastest growing sectors of the cryptocurrency market. The latter, in particular, has witnessed explosive growth in value and mainstream attention as some digital art pieces and collections sold for millions.
Despite growing into one of the most exciting spaces in crypto, NFT collectors and artists are still facing pertinent challenges of storing and displaying digital collectibles. HeadHunter, a digital art marketplace, is building a solution for these challenges, aiming to give NFT collectors and artists a “fully sustainable marketplace” to showcase their art.
“A non-fungible token or NFT is a blockchain-based certificate validating that you own a piece of digital art, ranging from audio and video files, images, video game items, and other types of creative work that is original, unique, or “non-fungible”.”
Artists and collectors in the NFT space today are facing a challenge on where to display their art to the public and finding a marketplace to sell their art, videos, music, trading cards, etc.
Notwithstanding, most of these artists and collectors have no technical expertise to properly package and store their collectibles.
Launched in 2020, HeadHunter is a digital art project aiming to curtail these display and storage challenges by providing an “all-in-one” hub world to collectors and artists alike.
The platform has devised islands (or parcels) that contain trophy rooms where artists and collectors can showcase their work to the world. These rooms allow NFT market participants to display, view, and/or sell their digital collections in a secure and open marketplace.
The platform consists of Heads (or HeadHunter NFTs), a collection of digital art collectibles hand-drawn by RektmeRev, a renowned NFT artist who also launched the DontBuyMeme art collection – with volumes of over 4,000 ETH (~$8 million).
According to the HeadHunter website, there are a total of 666 heads in existence – each giving you a key to your own virtual private island.
These islands contain virtual trophy rooms that allow the artists and collectors to display and safely store their digital art or Heads. HeadHunter NFT owners can also rent out space to third-party artists and NFTs to showcase in their rooms.
Collecting the Heads also ushers the collectors to HeadHunter’s interactive NFT marketplace, which operates under the principle of “Barter and Partial Barter”. This principle allows users to exchange one NFT for another or combine portions of NFTs to purchase another.
Additionally, owning HeadHunter NFTs gives you a voice on the advancements and amendments to the protocol governance as well as a share of the profit the platform makes from third parties.
A HH NFT collector will unlock a specific amount of space on the islands, allowing them to create trophy rooms. HeadHunter will give collectors a full sandbox experience allowing people to travel between islands and galleries in trophy rooms to view each other’s collections.
The trophy room allows artists and collectors to arrange and customize their trophy rooms any way they like. There will be multiple trophy rooms spread across the 666 islands – unlocked by the Heads available.
If you wish, you could also rent out your space to third-party NFT collectors to display their work on your walls. The third parties pay a ‘consignment fee’, of which a portion will go back to the platform and the rest to the Heads holder.
Head holders are also entitled to a 25% aggregate of the total profit generated on the platform from activities such as consignment fees, marketplace listing fees, and additional profit generated from selling NFTs on secondary marketplaces such as OpenSea.
As a final point, at the very core of its innovation, HeadHunter brings to life governance tokens in the NFT space. HH NFT holders will be able to propose and vote for “updated functionality of the marketplace, secondary sales percentages, and various other fee structures affecting their pay,” a post on the website reads.