Thanks a lot for the answers (so far). Moar incoming...
4) How exactly the "art will be marked as such"? Which art piece, the physical OR the NFT? How will the NFT distinguish itself, if the new owner received the physical artwork too? (to be marked as such)
The physical will be marked as "not for sale without the NFT provenance" on the back. Not sure I follow the last question, so feel free to rephrase if I didn't cover it.
It "will be marked as "not for sale without the NFT provenance" on the back" on the look-up tool on Cryptoat.com? Or previous owners should "be forced" to ink stamp the physical artwork on the back? (lol)
2) If we claim the NFT, and then decide to sell the art, by "simply sell the NFT" (and deliberately keep the physical) who will be the "authenticated" owner of the artwork? The new NFT hodler OR the seller that still holds the physical artwork & the physical CoA?
The current NFT hodler. In fact, you are perfectly entitled to keep the physical. You just aren't entitled to sell it without the NFT.
I am still not 100% sure if I understood this correctly. So, I can sell only the NFT, and keep the physical artwork (which in this case the physical artwork becomes "void"). However, if I would like to sell the physical artwork, I should/could/would "be allowed" to only sell it bundled with the NFT.
Will, in that case (selling the NFT bundled with the physical), the physical artwork becomes "void"? Will both the physical artwork & the NFT remains as "valid"?
3) In Cryptoart.com V1, "Selling your art piece requires physical delivery.".
In Cryptoart.com V2, selling your art piece does not require physical delivery (of the physical artwork)?
Nope. Just drop the NFT on Opensea or another marketplace. The new owner can then reprint or enjoy the art in any form they like. Think of it as form agnostic.
Let's assume that I sell only the NFT and I keep the physical (which is now "marked" as void). The new owner of the NFT (due to the form agnostic) "can then reprint or enjoy the art in any form they like".
Hence they print a poster AND a mug AND a t-shirt with that image. Will all the 3 instances of the specific artwork be authenticated by just 1 NFT "licence"? Is there a limit? Or the printer goes brrrrr....
By creating multiple "validated" instances of the same artwork, do we artificially increase the total supply of "authenticated" physical artworks in existence?
For example, owning 1 physical CoA, only authenticates 1 instance of the physical artwork. If I photocopy that instance of the physical artwork, it (the copy one) should not be considered as "valid".
Using your "Mona Lisa" example. Taking a photo of the "Mona Lisa", and printing 100 copies of that photo VS purchasing 100 copies of a numbered limited edition print of the Mona Lisa artwork, from the museum shop. (considering that the museum holds the rights to that painting)
I assume that the unauthorized reproductions of the photo that I took will have no value on the secondary market. However, the licenced print artwork purchased from the museum shop, might have.
If the new owner of the NFT, receive that specific physical original copy in the future, will the physical artwork become "valid" again?
New question (+ a comment):Will the accompanying image artwork of the NFT be a numbered edition, or a generic one (without a specific enumeration at the bottom left).
Let me give an example: Let's assume that I am the owner of the physical "Battle of the Algorithms 171/200" (well... I am not -at least not yet
- since it is currently on an auction here, on the collectible section). I decide to keep the physical artwork and sell the NFT. When the new NFT owner would like to print some posters, mugs, tees etc. with that artwork, will the image provided (with the NFT) includes the specific enumeration (ie 171/200) OR it will be just the image of the artwork (without the 171/200)?
By creating form agnostic reproductions with the specific 171/200 tag, it partially solves the scarcity & "the printer goes brrrr" issue, since all those can be considered as "authenticated reproductions" (based on the NFT 171/200 licence CoA that the user hodls).
Apologies for all those "confusing" questions, however that "NFT concept", confuses me sometimes.... lol
Generally speaking, what you are trying to do/achieve here, is an interesting idea. I just have some concerns/doubts about the implementation part.