FAQ

What is Pianity?

Everyone can listen to music, only one can own it.

Pianity is where artists and their fans gather to create, collect and trade unique digital artworks. Each artwork is created by an artist in the network and tokenized as a crypto-collectible item that you can own and trade. You can think of Pianity like Spotify meets Christie's. A new way to interact with music, art, and collecting on the internet!

Pianity is also a social platform. Collecting is inherently social. It fosters discovery and creation.

What is a CryptoArt (or NFT)?

Each artwork (track and jacket) on Pianity is a digital collectible secured by cryptography and tracked on the blockchain. You can think of it as a new file format that lives on the blockchain. A file you can read, but you can't copy. They are provably scarce items that can be collected and hold value, just like cryptocurrencies like ether and bitcoin. In practice, an NFT is a unique token representing a digital file. It is associated with a unique ID hooked to arbitrary metadata (such as the track, the jacket, and the artist's name). Therefore the information of a CryptoArt is immutably registered on the blockchain, a digital passport of the work.

Why build a social network for CryptoArt?

We think the music industry is broken. Most of the value does not come back to the artists that created it in the first place. We decided to rewrite the rules and allow musicians to live from their art and share it more effectively.

Is there value in owning digital art?

Until today, a common critique of digital art is that it can be copied. Therefore it can't carry much value. NFTs enable true ownership while allowing the work to freely circulate online. Think about "La Joconde": It resides in the Louvre, it is priceless. However it has hundreds of thousands of copies worldwide (in galleries, books, and the internet). These copies don't make the original Joconde less valuable; they actually make it more valuable. Similarly, the value of an NFT is correlated to the number of times its underlying data is copied and shared. The more a file is shared and seen online, the more cultural value it accrues.

Do I need cryptocurrency to buy items on Pianity?

No, you don't need to (but you can use them if you want). All the transactions on the platform happen in Euros or Dollars.

How does it work for creators?

Pianity is still in early access, we onboard only a small number of hand-picked artists. You can reach out to us at hello@pianity.com, and we will guide you through the next steps.

For how long does the primary sales last?

Initial offerings made by artists can last as little as minutes or as long as days, depending on their popularity.

Are there marketplace fees?

There is a simple 3% transaction fee for all purchases, paid by the buyer.

What's the motivation behind secondary market artist royalties?

We think the ability to secure a percentage of secondary-market revenue for artists is one of the most revolutionary and exciting capabilities provided by Pianity. It's analogous to a musician receiving a percentage of sales for a vinyl record issued, say, in the 1960s and still being bought and sold in used record stores today.

Can my CryptoArt disappear? How secure is Pianity?

Storing data on the blockchain is expensive. Very view projects store the data and the media (video, image and music) on the blockchain. We do.

Actually, on Pianity, your CryptoArt is inseparable from the Smart Contract. They both live together on the blockchain, forever.