Revolutionizing Art and Philanthropy with Blockchain: The Cryptograph Story

Phillip Lanos Podcast

In this episode of the Phillip Lanos Podcast, co-founders Hugo McDonaugh and Tommy Alastra of Cryptograph discuss their innovative platform that merges technology, art, and philanthropy. Cryptograph tokenizes unique pieces of art into NFTs (Non-Fungible Tokens), allowing fans to own exclusive digital assets created by icons and artists, with a portion of the proceeds going to charity. They explain how their unique auction system, the GBM method, incentivizes true market value discovery and ensures continuous revenue for creators and charities through smart contract technology. The conversation also touches on the broader implications of blockchain for democratizing art ownership, reducing creative accounting, and creating new economic models for sustainable philanthropy. The duo shares insights on their collaborative process, the challenges of mainstream adoption of blockchain technology, and their vision for future expansions.

Key Points:

- NFT Innovation: Cryptograph uses NFTs to create digital scarcity, allowing for the ownership of unique digital art by celebrities and artists.

- Auction Mechanism: The GBM auction system provides a new way to discover the value of unique items by incentivizing bidding, where participants either win the asset or make a profit from being outbid.

- Philanthropy Model: A significant aspect of Cryptograph's platform is its commitment to philanthropy, with token sales contributing to charitable causes, creating a model for sustainable giving.

- Artist Empowerment: Blockchain technology offers artists control over their work's secondary market, ensuring they benefit from future sales and trades.

- User Experience: Efforts are focused on simplifying the onboarding process for users unfamiliar with blockchain, aiming for broader mainstream adoption.

- Future Plans: Cryptograph plans to expand into a more open marketplace, allowing for broader tokenization beyond just high-profile art, aiming to democratize access to blockchain technology.

- Cultural Dynamics: The company culture emphasizes collaboration across different sectors like tech, entertainment, and finance, harnessing diverse expertise to push the boundaries of blockchain applications.