A venue for the exploration, production, and commercialization of unique works of NFT art.
The benefits and drawbacks of using KnownOrigin
Pros:
• Extremely discriminating. Due to the fact that NFT art is handpicked for the site, the likelihood of seeing spam or fraudulent accounts is extremely low (but never zero).
• The royalties are quite expensive. When their newly manufactured NFTs are sold on the secondary market, creators receive a commission of 12.5%, which is 2.5% more than OpenSea offers.
• Allows for the creation of several wallets. KnownOrigin is compatible with a variety of wallets, including the widely used MetaMask and WalletConnect.
• A straightforward and uncluttered interface. It is simple to navigate, with clear listings and an ownership history that is not difficult to understand.
• Represents one of the earliest marketplaces. It was established in 2018, making it one of the earliest marketplaces in operation; it is just marginally younger than OpenSea.
Cons
Does not support the use of fiat currency. When making purchases, users are forced to pay with Ethereum.
• It seems to be off limits to creators. There has been no recent announcement on the reopening of the application window for new creators, and the application process is now closed.
• No mobile app. Accessing KnownOrigin requires the usage of a browser as opposed to OpenSea and Rarible, both of which provide a handy mobile app for their users.
Recently, nonfungible tokens, often known as NFTs, have experienced a meteoric rise in popularity, which has led to the establishment of numerous new NFT exchanges. KnownOrigin is a decentralized marketplace for non-fungible tokens that is artist-driven and concentrates on digital art, which it refers to as CryptoArt. Because it is a specialized and closed-off platform, artists are need to apply for membership before they may tokenize their work and put it up for sale.
KnownOrigin from our point of view
KnownOrigin is a decentralized marketplace built on the NFT protocol that focuses on the discovery and dissemination of digital artwork. The mixed NFT markets OpenSea and Rarible, which capture a broad spectrum of NFTs, are not comparable to KnownOrigin because it is tailored to the needs of digital artists.
KnownOrigin is a non-fantasy trading card game (NFT) marketplace that is selective and gives substantial royalties, despite the fact that becoming a creator on the site is more difficult than it is on other marketplaces. Unlike many other marketplaces, which only require a simple signup process, the application for KnownOrigin is a process; however, at the time of this writing, the process is closed to creators.
The platform offers users the opportunity to showcase their talents on a platform that has been tailored for them. The viewers are encouraged to make purchases of NFTs, while the creators are given the ability to showcase their unique concepts. Every piece of CryptoArt has been verified, and its listing includes a comprehensive history of its transactions.
KnownOrigin is a well-established name in the world of NFT marketplaces. The platform first went live in 2018, not too long after OpenSea did so in late 2017. To put this in perspective, the debut of the Foundation and the FTX’s NFT marketplace occurred in the same year, 2021.
The KnownOrigin NFT marketplace in more detail
Ethereum is the underlying technology of KnownOrigin, just like a number of other well-known marketplaces, such as Foundation, OpenSea, and Rarible.
You will need to have access to a Web 3.0 digital wallet in order to purchase NFTs. KnownOrigin is compatible with a variety of crypto wallets, including the following:
• MetaMask
• WalletConnect
• Fortmatic
• Portis
• Wallet from Coinbase
For any and all transactions on KnownOrigin, you will need ether, also known as ETH. ETH is Ethereum’s native asset.
At the time of this writing, it is not possible to become a creator on KnownOrigin and mint NFTs using the platform. If this interests you, you are out of luck. KnownOrigin has an application process, however the application window is now closed and there is no indication of when it will reopen or when new creators will be able to apply. In addition, there is a backlog of applications, and the wait time for artists who are awaiting application results is currently one month.
When it comes to exploring the site as a collector, it has a design that is uncluttered, easy to understand, and straightforward to traverse.
KnownOrigin and Marketplace were the sources of the image.
Explore the site by going to its open Marketplace, where you may look at impending drops, search for particular users, collections, and popular NFTs, and even examine a hall of fame of the most valuable items that have been sold and their prices.
KnownOrigin’s blockchain, and with the money it supports
You will need ETH as well as a crypto wallet in order to purchase NFT paintings on KnownOrigin. When preparing your budget for buying, selling, or minting NFTs, be sure to include the cost of gas.
• A diverse selection of currencies that can be traded
• User friendly
• Incentives for first-time residents
• Protection for balances of up to $250,000 in foreign currency
• Interest may be accrued on balances
• Exorbitant prices for mobile applications
• Not including several notable currencies within the top 20
There are no debit cards that can be linked.
What different kinds of NFTs are there to choose from on KnownOrigin?
When it comes to the NFT artwork that is listed on the site, KnownOrigin is picky. Creators are required to fill out an application, and the site gives preference to digital art as it more closely aligns with its mission statement.
Embedded NFTs, also known as NFTs with “layers of value,” are another feature that can be found on the KnownOrigin platform. According to the platform’s description, this feature enables “multiple storylines in and around the main artwork.” To summarize, you can easily embed another NFT onto the parent NFT or add additional kinds of tokens through the creator portal with only a few clicks of the mouse.
How to purchase non-fungible tokens on KnownOrigin
You do not need to have a connected wallet in order to browse the market; however, you will need one in order to make a purchase.
1. Link a wallet to your account. Choose the Connect wallet option, and then select the desired wallet afterward. When it’s successfully connected, a link to your profile will appear for you to click.
2. Look through the classifieds. Choose the NFT that you wish to purchase, and then agree to the transaction. You can peruse artwork that has been resold on the secondary marketplace or first sale products that are available on the primary marketplace. In addition, a search box is provided so that users can look for inventions in a more direct manner.
3. Make sure you finish your transaction. If the piece of artwork is being sold through an auction, you should place a bid and then wait until the auction is over before claiming your prize. At the conclusion of the auction, if you were the highest bidder, you will receive a notification asking you to verify the ETH transaction in your Web 3.0 wallet. If the piece of artwork is being sold with a “purchase now” option, choose Buy, and then confirm the specifics of the ETH transaction within your associated wallet.
You will be able to access your NFT token within your Web 3.0 wallet once the transaction has been successfully executed on the Ethereum network. Your new KnownOrigin NFT collection may be viewed on your Profile page, which can be accessible at the top right of the screen. This is made possible by the link that already exists between your Web 3.0 wallet and the KnownOrigin.
Creators with a lot of followers on KnownOrigin
KnownOrigin has published content from notable and trustworthy creators such as:
• It’s Cypherpunk Time!
• Genuine Human Art
• The colossal Swan
• Griff
• Sabet
• XCOPY
How to make sales of non-fungible tokens on KnownOrigin
KnownOrigin has strict requirements for users before they are allowed to mint NFTs on their platform. At the time of this writing, applications have been closed; nonetheless, in order to mint NFTs, one is required to pay a gas fee and provide a digital image that is compliant with KnownOrigin’s standards.
On the other hand, artwork that was bought using the platform in the beginning can be resold using KnownOrigin on the secondary market.
The process of selling an NFT consists of the following three steps:
1. Link a wallet to your account. Visit the website, and then click Connect wallet from the menu that appears on the top right of the page. Select the Web 3.0 wallet you want to use, and then confirm the connection. You should now see a list of NFTs on your Profile page if they were sold or generated by KnownOrigin.
2. Choose an NFT that you want to sell. Choose the NFT you want to have featured in the KnownOrigin marketplace from the “Profile” page of your KnownOrigin account.
3. Decide how you will do the transaction. You have the option of setting a buy-it-now price or holding an auction-style sale.
Fees charged by Known Origin
The fees that are involved with using KnownOrigin are determined by the kind of sale that is going place, which might be primary or secondary. ETH is used for the payment of all fees and transactions entirely.
The artist who lists the digital artwork for sale on KnownOrigin is entitled to collect 85 percent of the sale price, with the remaining 15 percent being paid to KnownOrigin in the form of a commission charge. This applies to all primary sales, also known as the initial sale on KnownOrigin.
When there is a secondary sale, often known as a resale, the seller is entitled to collect 85% of the total transaction price. The remaining 15% is split between the artist who created the work and KnownOrigin in the following proportions: 12.5% goes to the original artist, and 2.5% goes to KnownOrigin.
The KnownOrigin NFT has fallen.
If you go to knownorigin.io/drops, you will be able to view the most recent information regarding the impending NFT drops that are being hosted by KnownOrigin.
At the time of this writing, several upcoming drops will have artwork created by claudia, strayltd, Mellow Noiiz, and ojovivo, among others.
On the landing page for the drop, there is a subscription form that you can use to sign up for KnownOrigin’s newsletter and receive email updates regarding upcoming special NFT drops.
Is it safe to use KnownOrigin?
KnownOrigin is a genuine online market, and in point of fact, it is one of the most established ones.
In 2018, KnownOrigin was established as a company. More than 4,000 musicians from all over the world have used this platform, and it has successfully processed over 14 million dollars’ worth of transactions to this point. To the best of our knowledge, KnownOrigin has not been compromised in any way.
KnownOrigin does not publish a page that goes into great detail about security; rather, the basic statement that security is vital is included on the page that discusses privacy.
For users who suspect that their KnownOrigin profile has been compromised, the platform’s user documentation includes a separate page that outlines a series of steps that can be followed. These steps include contacting the platform, confirming your identity, creating a new profile, and eventually deleting the compromised account.
Because crypto programs are regarded as third parties, KnownOrigin, just like other NFT marketplaces, is unable to offer assistance in the event that your cryptocurrency wallet is compromised. Even though KnownOrigin is a legitimate NFT marketplace, you should still educate yourself on the several frequent NFT frauds so that you can safeguard your digital assets.
Bottom line
KnownOrigin is not only one of the most exclusive but also one of the oldest non-fungible token (NFT) marketplaces that currently exists.
On the other hand, it is somewhat antiquated in comparison. There is no mobile app available, no support for fiat currency payments, and just one cryptocurrency is accepted. A great number of additional NFT marketplaces, including Coinbase NFT, OpenSea, FTX, and Crypto.com, either already offer credit and debit card payments or are in the process of implementing support for these payment methods.
If you’re new to the world of NFTs and looking for a method to ease into the space, KnownOrigin might not be the greatest choice for you. Exclusivity can be a wonderful thing, especially in the wild west of NFTs, but in this case, it may not be the ideal decision. If you are an experienced art collector who is comfortable making payments solely in cryptocurrencies using the Ethereum blockchain and you are interested in gaining access to exclusive artwork, KnownOrigin is a platform that you should consider looking into.
