Frequently Asked Questions (FAQ)
- What’s Augmented Reality?
- What’s Blockchain Technology and How Does this Relate to Augmented Reality?
- How Do I Set Up My Wallet?
- How Do I Set Up My Account?
- How Do I View in Augmented Reality?
- How do I Win an Auction?
- Where Can I Display My Art?
- What’s Ethereum (Eth)?
- Can I Publish My Augmented Reality Art to Illust Space?
- Can I Trade or Resell the Art?
- What’s a Smart Contract?
- Questions for an Illust Space Rep
Augmented reality art and blockchain are two areas of incredible growth but also have a unique set of vocabulary and processes. Our F.A.Q is designed to help bridge any gaps you may find in the process of buying and selling augmented reality art.
What’s Augmented Reality?
Augmented reality (AR) is an interactive experience of a real-world environment where the objects that reside in the real world are enhanced by computer-generated perceptual information. When using phone based augmented reality, there are two distinct types of “camera effects”, world effects and face effects.
- World Effects: phone based augmentations of your environment with 3D objects using the exterior camera of a phone
- Face Effects: phone based augmentations of yourself using the interior camera of a phone
Metaverse or the Ubiquitous Digital Layer: the concept of a future iteration of the internet, made up of persistent, shared, 3D virtual spaces linked into a perceived virtual and augmented reality universe. Here’s an article from Forbes on the topic (Forbes).
What’s Blockchain Technology and How Does this Relate to Augmented Reality?
Blockchain : a decentralized, distributed ledger technology that records the provenance of a digital asset.
Smart Contract: a smart contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts allow the performance of credible transactions without third parties.
ERC-721 Standard for Non-Fungible Tokens: is a special type of cryptographic token which represents something unique. It is the standard Illust Space uses to embed the Smart Contract.
Wallet: a secure method for storing money and blockchain related assets such as art, merchandise, and even identification. The Wallet’s private key is personal information that should not be shared with anyone.
Illust Space is using blockchain technology in order to create a transparent system of tracking ownership and creation of augmented reality art. This in turn provides collectors and creators alike a market to seamlessly track digital assets.
How Do I Set Up My Wallet?
The first step in participating with Illust Space is to sign up with your wallet. If you do not already have a wallet set up, you can set one up through Torus, a 3rd party encrypted and distributed wallet provider service.
- 3rd Party Provider
- Wallet Key
How Do I Set Up My Account?
Connecting your wallet to Illust Space allows you to create your profile. When setting up your account, you may also sign up for notifications about upcoming auctions and partnerships. The profile page is your gateway to the illust space platform. Here you can fund your wallet, review items in your collection, browse upcoming drops, and even transport your art to other platforms.
How to View in Augmented Reality?
- World Space: art can be viewed in both world space which is placing the art in the rear camera. This allows indiviudals the ability to interact art as it relates to positioning in the world around them.
- Face Effect: these effects user machine learing and computer vision to place objects.
How do I Win an Auction?
Those who submit the highest bid and have the funds to remit the proposed bid win the auction. If there are multiple lots in an auction, than the grouping of highest bidders will receive the auction.
Following the conclusion of an auction a representative from the Illust Space team will be in touch as you will be required to confirm payment of the funds upon the auction close.
Where Can I Display My Art?
Illust Space is working to foster and develop relationships with social media platforms, gaming studios, art galleries, tech platforms, and other participants in the metaverse. For a Collector, this means more access points to share your artwork with the world. There are some immediate partnerships in the works so please hold tight as we create an inroad.
What’s Ethereum (Eth)?
- What it is: Ethereum or Eth is a cryptocurrency used to place a bid on the Illust Space auction. Cryptocurrencies like any other currencies are use as a harbinger of value and like the USD or other common currencies, susceptible to fluctuations in its price.
- How do I buy it: bids on Illust Space use Ethereum. In order to purchase Ethereum, please navigate to a 3rd party source such as CoinBase, Phemex, or other Cryptocurrency marketplace. Please find the following links as a resource to populate your coinwallet
- How to purchase Ethereum from Coinbase
- Hot to transfer Ethereum to your Wallet
- For a full dive into what’s happening conceptually
Can I Publish My Augmented Reality Art to Illust Space?
The team at Illust Space is working diligently to provide an avenue for artists to mint their own works of art for auctions, galleries, and collectors.
Can I Trade or Resell the Art
Yes, Illust Space does will have its secondary market available by the end of the first beta auction. Some of the works will be available for resell on other secondary sales sites. Artists who sell art through Illust Space will receive a royalty for every time the art is resold paid by the seller of the art. These royalties are set by the artists. Illust Space receives a platform fee of 5% for every purchase resold on the website.
What’s a Smart Contract?
- A smart contract is an embeddable digital contract that is able to track alongside a created piece of artwork to define what it is. Essentially it acts like a digital referee that provides information about who created it, it’s basic tags, and other relevant information. The Standard of choice for NFT’s is the ERC-721 standard.
- Regardless of who owns the art the contract follows along providing a providential record of the asset.
Questions for an Illust Space Rep
In the bottom right hand corner of the page we have a chat button that provides a ticketing system for any and all inquiries related to account set up, wallet, purchasing, and other questions you may have.