The term ”Operative Artwork“ may not be familiar to you but Tangent, a blockchain based start-up aims to change that. Tangent focus is on integration, says co-founder and CEO Clint Alexander. ”That’s integration between NFTs, DeFi utility and smart contracts whilst bringing new capabilities and functionality to the Cardano blockchain“.
Staking NFTs: What are Operative pieces of Artwork?
Tangent explains that operative artworks are NFTs that have financial utility and can be staked in farming pools within the Tangent DeFi app.
Tangent suggests that this utility is the next evolution in the development of NFTs as their non-fungible nature makes them perfect to represent unique assets within decentralized finance. This makes sense to the more seasoned blockchain expert but what do they plan to achieve by doing this? Tangent’s goal of NFT farming is to provide incentives to NFT holders to attract and retain users by offering attractive rewards and extra utility, explains co-founder & COO Ben Gordon. Using the Tangent self configurable farm creation tool, users can create a farm by whitelisting NFTs and assets that are accepted as well as selecting the rewards to be shared to pool participants. Creating an NFT Farm is an effective way for developers and artists to bring attention to their projects and reward users or followers. These NFTs are not only aesthetically pleasing but possess staking capabilities within Farming Pools thus generating yield rewards for each user. Tangent has coined the phrase Operative Artwork to describe this function. As outlined in the Tangent Whitepaper, the NFT FARM will eventually be completely permission-less, providing a platform where any user (even those with zero knowledge of coding) can create their own NFT Farming Pools on Cardano. Although the first wave of NFT development has been driven by the digital art scene with a strong focus on price speculation, the upcoming stage of growth will be more sustainable and driven by the functionality that non-fungible tokens can provide in decentralized finance and play-to-earn blockchain gaming.
Tangent has created a platform for the deployment of NFTs with high level utility in finance by combining operative artwork, tokenization and fractionalization to represent unique assets. Operative Artwork This is the next step in the development of complex NFTs, that on one level are collectible digital art pieces but on another level are also form parts of smart contracts that can be utilized within decentralized finance. This is why we coined the phrase, operative artwork, to describe our novel approach to NFTs which can also perform functions within smart contracts used in decentralized finance applications. The first operative artwork pieces to be released, the Tangent Genesis Edition NFTs, are not only aesthetically pleasing but also packed full of programmable financial utility and other benefits to reward early adopters. Operative artworks can be staked alongside other assets within Liquidity Mining and Yield Farming Pools to generate passive income for investors. Operative artworks can also be locked into NFT Farming Pools to earn more rewards or lent out to other users in return for a fixed fee. Operative artwork that are backed by real world assets are transforming the NFT landscape by creating a new class of digital assets that generate yield income for users and provide an inflation hedge against a decrease in the purchasing power of money.
A sizable quarter of the supply of $TANG is assigned to the community in the form of rewards. These tokens can only be acquired by interacting with the Tangent tools and services. For example through the staking of TANG, the staking of our Operative Artwork (NFTs) and through the creation of farming pools on the in-house Tangent DeFi NFT Farming Platform.
Tangent’s Operative Artwork is collectible, decipherable, stake-able and comes with major perks in the form of Bounties. These Bounties will be distributed to NFT holders to reward those users who utilize the platform and to celebrate special community dates and milestones such as the birthday of Charles Hoskinson.