1571's William Fortescue Exhibit at London's Royal Exchange to Feature NFTs with Patented Features that Only Chia and Data Vault Holdings Can Deliver
SAN FRANCISCO and NEW YORK, Nov. 9, 2022 /PRNewswire/ -- Data Vault Holdings Inc., the emerging leader in metaverse data visualization, valuation, and monetization, and Chia Network Inc, an open-source, public blockchain optimized for real-world adoption founded by Bram Cohen, today announced a partnership to exhibit NFT Art of the world-renowned photographic artist William Fortescue at the 1571 Gallery in London.
Through the newly announced partnership, the Datavault® platform now allows users to mint NFTs on the Chia Blockchain. The Chia Network NFT1 standard offers novel features for NFTs, including on-chain royalties, digital identity, and integration with Chia Offers, furthering the breadth of services offered to Datavault's users. Price discovery, comprehensive yield management, and selection of blockchain are among the tools that set Datavault's U.S.-developed Web 3.0 platform apart from competitors in the marketplace today. Chia's blockchain adds control at the token level and offers a low carbon footprint.
"Chia brings significant security advantages through its Coinset Model and innovative NFT standard, which we believe is a necessary piece of the broader adoption of Web3 and NFT technology," said Nathaniel Bradley, CEO of Data Vault Holdings, Inc. "Our 1571.io operation has been a great starting integration point for our teams. The proper use of the right blockchain to associate with the assets over the long term is also an integral feature of our platform – Chia is innovative, secure and energy efficient and has solved for token level smart contracts. Our partnership is designed to solve problems, drive continued innovation, and bring forth world-class customer-centric solutions."
"Datavault® partnered with Chia to address two primary concerns from artists: resale royalties (droit de suite) and sustainability. With Chia's NFT1 standard, royalties are enforced on-chain by default with royalty rates defined by the creators, not the marketplaces," said Gene Hoffman, Director, President and COO, Chia Network. "By focusing on creators' needs first, Chia's approach seeks to address the challenges and friction artists face today in the NFT ecosystem."
Chia Network joins Ethereum, Binance, Phantom and other leading blockchains already integrated with the Datavault® platform – the first to provide Web 3.0 data and content optimizing tools and data monetization capabilities that automatically prioritizes data assets based on their utility, purpose and value.
About Data Vault Holdings Inc.
Data Vault Holdings Inc. is a technology holding company that provides a proprietary, cloud-based platform, Datavault®, for the delivery of branded data-backed cryptocurrencies. Data Vault Holdings Inc. provides businesses with the tools to monetize data assets securely over its Information Data Exchange® (IDE). The company is in the process of finalizing the consolidation of its affiliates Data Donate Technologies, Inc., ADIO LLC, and Datavault® Inc. as wholly owned subsidiaries under one corporate structure. Learn more about Data Vault Holdings Inc. at www.datavaultholdings.com.
About Chia Network
Chia Network built a better blockchain to drive real-world use and application. Founded by Bram Cohen, inventor of BitTorrent, Chia provides a secure, sustainable and regulatory compliant blockchain setting the standard for the infrastructure of digital currency and inclusive access to global, decentralized finance. Through the innovative Proof of Space and Time consensus algorithm, Chia Network's public, open source blockchain leverages hard drive space to create the first new Nakamoto Consensus since Bitcoin in 2009.
For more information, visit: https://chia.net/
Chia Network Contacts:
Dan Margolis & Parveen Singh
Head of Investor Relations
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SOURCE Data Vault Holdings Inc.