UAE Cheeze is set to launch NFT mobile applications. The company led by Simon Hudson Founder and CEO, is preparing to launch its application that allow creative to easily mint their work as NFTs ( Non Fungible Tokens) to trade on the Blockchain, much similar to what Beeple has done.
Cheese announced it was opening its offices in UAE back in March of 2021 with UAE Based SRG Holding.
In an interview with The National Hudson first explains the concept of NFT. He states,, “A fungible asset would be something like a dollar bill we could both put $5 on a table and it wouldn’t matter which one we took off because they are the same value, A non-fungible asset is something that is unique … an NFT is really the ability to apply this uniqueness to transactional technology such as the blockchain.”
As per the article in an art world haunted by fakes, that could be crucial to breakthrough talent when proving provenance and buyers declaring ownership.
Cheeze will be open to photographers, collectors and consumers. With its bespoke “minting studio” of Dubai engineers, it aspires to be the leading platform globally for photographers selling digital assets.
“An NFT allows you to take a flat asset, give it depth and that is really our focus at Cheeze – if you were to able to record audio or a podcast around that photo and give context, that then becomes more interesting.
The Cheeze NT mobile application will take a flat commission from sales on the platform to cover costs and will employ talent to work with brands, entertainment and film studios, as well as photographers “to create a new vertical to launch campaigns”.
Cheeze is working with Dubai’s Dukkan Media as its sole representative for the MENA region to generate engagement. “If individuals or brands would like to get their content minted, we are here to make it happen,” Dukkan partner Reem Hameed says.
Cheeze CEO also talks about the concept of royalties in NFTs, “The beauty of NFTs is that you don’t, as an artist and creator, just make money from the initial sale, you can put into the smart contract that you generate revenue from secondary, third, fourth, fifth sales. Having that royalty [element] in a smart contract that cannot be forged, cannot be changed, is a wonderful thing for artists.”
Hudson believes NFT apps will take off in the region. He states to The National,“ When people realize that transfer of ownership is as easy as sending somebody an NFT or they mint items and make some money, then I believe it’s going to be an adoption similar to what we saw with the internet in the mid-90s.”
Cheeze is currently seeking its seed round for further funding. The company has headquarters in New York and a presence in Los Angeles, San Francisco, London, as well as in Dubai.