Frequently
Asked Questions

I heard about collecting Boom Memorabilia, how can I do that?
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As it embraces the technological innovation of NFTs, Boom decided to work on its own NFT collections as a way to engage the Boomer’s community and help fund the festival organization and the Boom Karuna project. 

Boom and APN decided to use an alternative platform called Kollektor.io which has two strong major characteristics:

  1. it’s fully focused on supporting projects and artists (rather than speculating on NFTs) by removing the secondary market resales
  2. It's built on a sustainable blockchain named Algorand, which is not only carbon neutral but even carbon negative, as a portion of all the fees paid to use the infrastructure is allocated to offset its carbon emissions.

There will be two types of collections.

  1. Boom Memorabilia will be celebrating the 25th Anniversary of Boom Festival, digging in the archives to rediscover visuals from the past editions.
  2. Boom Moments will be a way to relive the best memories of Boom 2022 in a digital form

All the collectibles will be listed on rareeffect.io/boomfestival2022 – keep an eye out!

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Where can I reach out for more information?
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You can join our telegram or discord groups, or write us directly to info@artprogressionnow.com

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How can I get updates of Boom 2022 NFTs?
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You can sign up to our Boom NFT related updates here link to signup - Needless to say, we won’t spam you.

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Can I check the artworks after the festival?
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Yes, check Question "Where can I see Boom Festival NFTs and how can I get one?" for more details.

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How was the Envisonary Art Lounge created and curated?
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The EAL was created in partnership with Art Progression Now who produces similar events under the brand of Rare Effect. APN is made of different organizations working in a decentralized way: Arroz Estudios focused on curation and production, Keyko.io focused on blockchain technology and artists onboarding, Loominate.co focused on communications and marketing. For more info visit artprogression.now.

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What marketplaces are being used? How can I interact with them?
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In the NFT space, there are numerous marketplaces, each of them with their specificities and vision. Some are more focused on exclusive fine art pieces, others in specific forms of selling like auctions only. For the Envisionary Art Lounge, all artists could choose where they wanted to mint their NFTs. Starting from the Marketplace the EAL team onboarded new artists, there’s a list of the marketplaces where the NFTs are available and their links where you can learn more about:

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Why would someone want to collect Boom NFT artwork?
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  • First because they like the art piece and want to grow their art collection. Secondly, because by buying an NFT, they are directly funding the artistic journey of its creator, now and for a long time. And thirdly, because art can be seen as an early investment that will gain value over time and be resold at a higher price, just as it happens in the fine art world.

Hint: Contrary to what some people think, NFT artworks can be displayed as it happens with physical paintings, except that digital artwork will be displayed on a screen or shown directly from your wallet collection in any device. If you are thinking about the people who ‘’right-click and save’’, you can think of them as someone who takes a picture of a Mona Lisa at a museum: they will have a register of the piece, they can even print it and place it at their home, but as it isn’t the original, this copy holds no collection value at all. The same is true for NFTs, their value is held by the one who owns the NFT itself.

  • Except if explicitly stated by the NFT creator at the time of minting, copyright of NFTs is essentially the same of the fine art world: the collector can own it, exhibit it and sell it while they own it, but can’t reproduce it massively to create merchandise for example.

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Where can I see Boom Festival NFTs and how can I get one?
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You can view the exhibiting artworks in the Envisionary Art Lounge at Boom Festival site in Portugal from the 22nd to 29th July 2022; and you can also see them online from July 22nd to August 15th. One way is to visit our web page containing all the artworks: rareeffect.io/boomfestival2022. The other way is the online gallery view, where you can see the artworks in a 3D space which is a decentralized museum on the metaverse: https://musee-dezentral.com/museum/?room=minerva.

When you find an artwork you would like to own, you have to check the marketplace they were minted on, and make sure you have the wallet and funds needed for the case, more info on this below.

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What about the environment?
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There are different systems supporting decentralization: Proof of Work (PoW) like Ethereum and Bitcoin, and Proof of Stake (PoS) as Algorand, Tezos, Polygon, Near and many more. The former requests more computational power as it’s fundamentally more decentralized and secure, whereas the second is more energy efficient and its transactions are faster and cheaper. Proof of Stake is calculated to consume 99% less energy than Proof of Work and that is why for the EAL we advised all exhibiting artists to use Proof of Stake blockchains and boarded all the artists new to NFTs to the OpenSea marketplace on Polygon.

Although some artists chose to use Ethereum marketplaces like KnownOrigin and SuperRare (self-agency remember?), all related energy used will be offset in carbon credits. Besides, a percentage of NFT sales will be redirected to social and environmental projects that Boom Festival is carrying throughout the years.

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Why are NFTs at Boom Festival 2022?
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  • NFTs at Boom Festival are aligned with enhancing Boomers’ inner connection to Awareness, Inspiration, Regeneration, Empowerment.
  • NFTs at Boom are intended to reinforce how artistic psychedelic experiences can improve human life and inspire behavior change. By offering a new way of commercializing art, it ensures the transparency of funds circulation, the fairness towards the creatives and the sustainability growth while positioning Boom as an innovator in the digital art space. Boom’s art legacy preservation expands from IRL experiences to the digital cloud.
  • From all you read so far, you probably identified the key values justifying the use of NFTs at Boom: Fairness and independence for the artists, with mechanisms supporting their self agency; Various selling alternatives for digital artworks; Royalties on secondary sales back to the creatives; Distribution of sales through different beneficiaries… These all make sense in the Boom’s Ethos. In the Envisionary Art Lounge, NFT sales are split with the artist, the organization and Boom Karuna project, a socio-economic project run by Boom. Read more here: Boom Karuna.

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What are NFTs?
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  • NFT stands for Non Fungible Token, which is an unique cryptographic token that exists on a blockchain and cannot be replicated. 
  • Hint: Think about a 5$ bill, if you borrow one from someone, you can return the value in a different form like 2 coins of 2$ and 1 of 1$ - this is a fungible asset. On the other hand, if you borrow a car from someone, it is expected you return the same car, and not a different one even if it has the same monetary value - this is a non fungible asset; it can’t be replicated or replaced. Whereas in this particular case, it’s pretty easy to identify if the car you are giving back is the same one you took in the first place, recognizing authenticity is not always that easy both in the physical world like fine art pieces and luxury items, nor on digital assets.
  • NFTs can represent anything either digital or physical, however, the technology has become highly relevant for the digital art cases, which benefits not only from the recording of information on-chain that can’t be altered or tampered, but also from the registration and transferral of ownership of digital assets.
  • Hint: When someone is creating an NFT (commonly referred to as ‘’Minting an NFT’’) they upload the digital file and write all relevant information that will always remain attached to it (the name of the creator, date and time of creation, as well as other metadata like description of the artwork and sometimes even the creative process behind the piece or/and others). This will allow that now and in a far away future, anyone can consult the provenance of the artwork and trace it back to its origin and prove its authenticity. After, the creator will be able to list the NFT for sale, choosing the method of sale (fixed price, auction, or other creative tokennomics), price and royalties of future sales - all of this will be always registered on-chain.
  • Someone said Royalties? Yes, NFTs allow for the automatic transfer of a percentage of secondary sales, back to the NFT creator. This means that everytime the artwork is resold, the artist will always receive a percentage of the sale back to him, forever - cool, and more importantly, fair, right? 
  • There are also mechanisms that allow the waiving of or sharing royalties with other entities which is commonly used to send funding for NGOs and impact funds.

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