A new marketplace for animation artworks that lets creators showcase and trade their work as non-fungible tokens (NFTs) has been launched by tech firm Vidalgo.
The platform, one of the first NFT platforms of its kind, uses a relatively new animation file format called a Lottie which works on any device and can scale up or down without pixelation.
Vidalgo's founders Avidor Rabinovich, Boaz Aizenshtark, Lihu Berman and Tomer Abramovich hope it will become the leading marketplace for digital art animators and consumers to exchange and purchase digital artwork.
The market for non-fungible token art is currently booming, having grown more than 800% in the first four months of 2021.
Managing partner Avidor Rabinovich said: "We are one of the first NFT platforms where you can trade and sell your work and turn it into a passive income opportunity.
"Our marketplace will empower you to earn money by promoting your Lottie artwork for potential users to purchase."
The idea for a marketplace stemmed from the creation of a new editing tool, Vidalgo Editor, which uses the latest advancements in AI and machine learning to enhance the designing experience.
A kind of ‘Canva for animations’, it allows users to select an animation and personalise it using AI-driven design technology, and can be used by both beginners and professionals.
Co-founders Avi Rabinovich, Boaz Aizenshtark and Lihu Berman are all graduates of The Technion - Israel Institute of Technology, and have considerable experience both in the fintech startup sector and with leading Israeli and multinational companies, including the likes of Intel, Elbit, Given Imaging and Microsoft.
Rabinovich added: "Vidalgo Editor is our response to the newly recognised need for video editing software based on machine learning.
"But once we fully delved into the market, we began to understand the untapped opportunity for an animation marketplace using NFT blockchain technologies. We've now realised that vision and are so excited to see it develop."
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