KaryaKarsa Welcomes NFT's Fresh Wind

Non-Fungible Token (NFT) has recently attracted the attention of creators to monetize their artwork in digital format. In Indonesia, this method is not common, but it holds great opportunities. KaryaKarsa's creator appreciation platform is one of a number of partners that are partnered exclusively by ShopMall, the NFT Marketplace platform created by Tokocrypto, to take advantage of this opportunity.

To DailySocial, Co-Founder & CTO of KaryaKarsa Aria Rajasa explained that his party's interest in NFT is because this technology has changed the lives of many people and has become an interesting opportunity for creators to work. And, gain exposure globally and financially.

“KaryaKarsa has a vision that is in line with [NFT], but not all creators are ready or have know-how to manufacture and market NFTs. Therefore, when Tokocrypto invites KaryaKarsa to work together in launching NFT Gallery, we are very interested,” he explained.

KaryaKarsa itself is a platform for creators from various creative economy backgrounds to get direct support from their fans, much like Patreon.

The existence of TokoMall has finally become a breath of fresh air for KaryaKarsa, because of the technological challenges and the procedures for using NFT which are quite complicated. Plus access to the market is difficult because it's already so crowded with creators from various parts of the world here marketplace global NFT. TokoMall was created by Tokocrypto specifically for the Indonesian market and more specifically for TKO token holders.

“Since it was launched on the 19th, there have been more than 8 thousand collectors who are ready to buy NFT works at TokoMall. We think this is a good initiative from TokoMall to educate market Indonesia about NFT and for KaryaKarsa can educate and invite qualified creators to dive into market own country."

He continued, TokoMall's approach to NFT was interesting and different from the others. First, they lock the price of NFT in Rupiah to avoid price fluctuations. In this way, it may be more acceptable for Indonesian people to view NFT.

Second, there are some NFTs that can be claimed for physical goods, such as from brand NeverTooLavish for project their jackets. "The same thing has been done by Unisocks."

To support this step, KaryaKarsa will invite all creators in various fields as well as in its network to launch their work on TokoMall. as launch partners, it is in charge of curating the works that will be launched there.

A number of creators who already have a good reputation, such as Mice Cartoon, Mochtar Sarman, Shakti Shiddarta, Rhoald Marcellius, Kei Kusuma, Adriano Andigracio, Galang Larope, and Bumilangit have joined. They are top creators in various fields, such as satire, photography, animation, and 3D CGI.

In addition, director Wregas Bhanuteja from Indonesia, who won the 2016 Cannes Film Festival, sold his unique work from his short film Tak Ada Gila di Kota Ini (2019). Visitors can buy a s of the film to obtain the memorabilia the cast used.

“We want to try to reach many fields at once and see firsthand what the tastes and interest of the market are like.”

Aria confessed, after launch event, his party will invite all creators at KaryaKarsa to participate in enlivening the NFT market at TokoMall. For monetization, for every work sold, TokoMall will take 10% as platform fee and KaryaKarsa will take 10% as curator.

"But for launch event In this case, we do not take any fees because 50% of the sales proceeds will be given to charity,” he concluded.

Since its establishment in October 2019, it is claimed that KaryaKarsa has accommodated tens of thousands of creators and has grown 10 times this year.

NFT Market in Indonesia

Globally, there are many NFT marketplace platforms present. Among them that are quite well known are OpenSea, Rarible, Nifty Gateway, and others. Besides TokoMall, in the near future another local player that will be coming soon is Neftipedia made by Three Digital Tokens.

later Nephtipedia will make offers to creators. They get the opportunity to tokenize their work, so it can be more authentic. There are many choices media artworks that can be tokenized, such as digital images, videos, GIFs, to collectibles.

At TokoMall, both creators and creators benefit. Creators can ensure the continuity of royalties from each NFT marketed. Meanwhile for collectors, marketed NFT works can be a long-term investment because they can be resold through TokoMall. They can even exchange their collected NFTs for physical items.

However, this work of NFT is also not free from piracy and plagiarism. When a work of art is encrypted and logged into blockchain, then it is forever attached and cannot be removed. Many see that there is a gap that is prone to being abused by a group of irresponsible parties.

Quoting from the Whiteboard Journal, local artist Kendra Ahimsa's work under the moniker Ardneks is alleged to have been plagiarized by crypto artist Twisted Vacancy. Kendra is known for illustrating various covers and posters for music shows. Kendra received more than 20 reports of alleged plagiarism by Twisted Vancancy.