Since late March, a small corner of Web3 on Twitter has been playing a fun and crazy game of NFT trading.
It's called Stealcam and here's how it works: Users connect their cryptocurrency wallet to the platform, upload photos or videos, and they're instantly converted into NFT. They are so pixelated that they become unrecognizable to anyone but the owner. Users are encouraged to steal NFTs with a 10 percent price increase for each forced transfer.
The victim of the stolen NFT returned the remaining value, let's say cryptocurrency, divided between the previous owner who created the image, 45 percent, and Stelcam claimed the remaining ten. percent.
Stealcam calls the NFTs "Commemorative Notes" and gained attention primarily through social posts on Twitter. It's like blockchain's cousin Berial (a social media app that asks users to share their photos at random points throughout the day), but it's tied to cryptocurrency's financial and social dynamics. Stealcam logo? "Stealing for show."
Stealcam [clockwise from top left] Powered by blua_discordia, rkeinwold, erogwen and 0xPresley. Photo: Stealcam.
"We didn't think of the platform as a comment, although I understand where that's coming from," Racer told Artnet News. One aspect of this idea is that people's daily time has a value that can be measured in ETH.
The Stealcam scene includes, according to Reser, "network artists" who see it as a fun addition to existing social media circles, cryptocurrencies and play with concepts like pixels and interactivity to push the app's boundaries. (The description of the photo is inevitably a secret). Racer pointed to Stelcam's flagship SHL0MS as a good example.
One of the most active artists on Stealcam is Ben Demeter, who creates abstract geometric art using AI models under the name ArtGhost. DeMeter came to Stealcam by chance to make his name on web3 based platforms.
At the beginning of Web 3, "something was being built, but no one knew what to do with it," Demeter told Artnet News. Leave pictures, text or photos of what you're wearing. I saw an opportunity to do something bold: launch the entire collection. "
Ben Demeter, Dunescape #6: City of Steam (2023). Photo by Ben Demeter.
This means that compared to other NFT platforms or marketplaces, Stealcam offers lower fees and a lower barrier to entry, which is partly due to its lower price. This refers to the art built into the app, Racer as a shoddy product, often half-baked and with an "understated ideal" continuum.
Activity on Stealcam may have slowed down a bit in recent weeks, but Racer and Shrimp plan to expand Stealcam even further by offering alternative crypto wallet solutions for any artist to join. Racer then hopes to launch related projects that incorporate the same flexibility of text, audio or social media profiles.
"The game is atmosphere," said the competitor.
Follow Artnet News on Facebook:
Do you want to be at the forefront of the art world? Join our mailing list for the latest news, in-depth interviews and in-depth reviews to fuel the conversation.