Tapinator Launches BitPainting, a Crypto Collectibles Platform for the Global Art Market
Tapinator Launches BitPainting, a Crypto Collectibles Platform for the Global Art Market
Da Vinci's Salvator Mundi Returns to the Auction Market Historic Blockchain Auction Begins at Noon EDT Today
NEW YORK, May 31, 2018 /PRNewswire/ -- Tapinator, Inc. (OTCQB: TAPM), a leading developer and publisher of mobile games and applications on the iOS, Google Play, Amazon, and Ethereum platforms, today announces that it has released the Early Access version of BitPainting, a crypto-collectibles platform for the global art market.
Collectors interested in owning a piece of art history may sign up to participate in today's historic auction via EarlyAccess.BitPainting.com using a Chrome or Firefox web browser. Today's auction on the Ethereum Network will include 12 iconic artworks from renowned painters including Leonardo da Vinci's Salvatore Mundi.
In 2011, the dramatic public unveiling of Salvator Mundi ('Saviour of the World'), in the exhibition Leonardo da Vinci: Painter at the Court of Milan at The National Gallery in London, caused a worldwide media sensation. Painted by one of history's greatest and most renowned artists, whose works are exceedingly rare -- fewer than 20 paintings in existence are generally accepted as from the artist's own hand -- it was the first discovery of a painting by Leonardo da Vinci since 1909. "It was, without question the greatest artistic rediscovery of the 21st century - a painting of the most iconic figure in the world by the most important artist of all time," according to auction house Christie's where it sold in November 2017 for an astonishing $450.3 million. Six short months later, Salvatore Mundi could again shatter records as it returns to the auction block today as the lead lot in BitPainting's inaugural auction of virtual iconic art on the blockchain.
"After significant development efforts by our team, we are very excited to announce the initial launch of BitPainting, a new digital platform for collecting iconic art on the blockchain," said Ilya Nikolayev, CEO of Tapinator. "BitPainting allows art enthusiasts to collect and interact with rare virtual artwork on the Ethereum network. Art lovers can acquire iconic works, mint editions, sell, gift and explore famous works from world-renowned artists. BitPainting members can assemble unique collections and browse the artwork amassed by our community. Each artwork on BitPainting is a non-fungible (ERC-721) token, which is stored on the Ethereum blockchain. We have built specialized smART(TM) contracts which guarantee the scarcity, ownership, and provenance of these works. These smART(TM) contracts allow BitPainting collectors to create limited editions of their artworks, enabling a form of limited, decentralized supply as well as profit opportunities.
We believe the $45 billion art market is ripe for disruption by blockchain technology. We see a future where crypto-collectibles drive art sales via digital scarcity and democratize the collection of physical, digital and virtual fine art. In fact, we have already witnessed significant early market adoption of crypto-collectibles. Recently, CryptoKitties' virtual cat, Celestial Cyber Dimension, sold for $140,000 via LiveAuctioneers and Kevin Abosch's Forever Rose sold for $1 million via GIFTO. We believe Tapinator is well positioned to become a leader in the crypto collectibles market through the BitPainting platform," concluded Nikolayev.
About BitPainting
BitPainting is a new digital platform for collecting iconic art on the blockchain, allowing art enthusiasts to interact with rare virtual artwork on the Ethereum network. Art lovers can use the BitPainting Platform to acquire iconic works, mint editions, sell, gift and explore famous creations from world-renowned artists. BitPainting members can assemble unique collections and browse the artwork amassed by our community.
Each artwork on the BitPainting Platform is a non-fungible (ERC-721) token, which is stored on the Ethereum blockchain. BitPainting is built utilizing specialized smART(TM) contracts which guarantee scarcity, ownership, and provenance. These proprietary smART(TM) contracts allow BitPainting collectors to create limited editions of their artworks, enabling a form of limited, decentralized supply as well as profit opportunities. BitPainting was developed and is operated by Revolution Blockchain, LLC, a Colorado corporation and a wholly-owned subsidiary of Tapinator, Inc.
Disclaimers
Prior to becoming a BitPainting member, we strongly encourage potential members to carefully review BitPainting's Terms of Use located at https://bitpainting.com/terms-of-use. Specifically, we note that the prices of blockchain assets are extremely volatile. Fluctuations in the price of other digital assets could materially and adversely affect the value of members' artworks on or originated from the BitPainting Platform, which may also be subject to significant price volatility. Neither Tapinator nor Revolution Blockchain can guarantee that any members purchasing artwork on or originated from the BitPainting Platform will not lose some or all of their money.
About Tapinator
Tapinator (OTCQB: TAPM) develops and publishes mobile games and applications on the iOS, Google Play, Amazon, and Ethereum platforms. Tapinator's portfolio includes over 300 mobile gaming titles that, collectively, have achieved over 450 million player downloads, including games such as ROCKY(TM), Video Poker Classic, Solitaire Dash, and Dice Mage. Tapinator generates revenues through the sale of branded advertisements and via consumer transactions, including in-app purchases. Founded in 2013, Tapinator is headquartered in New York, with product development teams located in the United States, Germany, Bulgaria, Pakistan, Indonesia and Canada. Consumers can find high-quality mobile entertainment wherever they see the 'T' character logo.
Forward-Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Tapinator, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "may," "will" "expect," "anticipate," "estimate," "intend," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements in this release involve substantial risks and uncertainties that could cause the next stage of our development, and the execution of our organic growth strategy to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, whether BitPainting will launch successfully and will be well received in the marketplace, our belief that the applicability of blockchain technology will expand from currency trading to industry-changing applications and games, our belief that blockchain technology will disrupt the global art market, and our beliefs that we are well positioned to become a leader within the crypto collectibles and decentralized application markets. Tapinator undertakes no obligation to update or revise any forward-looking statements. The quoting and trading of the Company's common stock on the OTC Market Group's OTC Link quotation system is often thin and characterized by wide fluctuations in trading prices, due to many factors that may have little to do with the Company's operations or business prospects. As a result, there may be volatility in the market price of the shares of the Company's common stock for reasons unrelated to operating performance. Moreover, the OTC Market Group's OTC Link quotation system is not a stock exchange, and trading of securities on it is often more sporadic than trading of securities listed on the NASDAQ Stock market or another securities exchange. Accordingly, stockholders may have difficulty reselling any of their shares. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company, see Tapinator's Risk Factors which are available within the disclaimers section of Tapinator.com.
Contact:
investor.relations@tapinator.com
+1-914-930-6232
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SOURCE Tapinator, Inc.
