Revolutionising the Art World: How technology is bridging the gap for artists, investors, and collectors.
The art world is moving toward more transparent and efficient processes for buying, selling, and authenticating art works.
By linking physical items—such as paintings and sculptures—we can now tamperproof records on the blockchain and that’s super exciting.
For artists, getting funding is tough. Traditional options like gallery representation or bank loans take forever and often limit my creative freedom. And royalties? Don't get me started—most of the time, they barely see any benefit from future sales or exhibitions of their work.
We know the entry costs for investing in big-name artworks are sky-high. It’s hard for everyday people to get involved. And even when I do invest, figuring out if a piece is authentic and its history is legit can be a real headache.
Collectors are usually worried about provenance. If all I have to rely on is a paper certificate, what happens if it’s fake or gets lost? Plus, reselling art is such a hassle. You have to deal with so many middlemen, and that just adds to the cost and risk.
How to we sort this out? 4 things:
A physical authentication tag…Imagine every piece of art coming with its own secure tag—using NFC or RFID technology—that links directly to a digital record. No more doubts or guesswork; the artwork’s details are always at your fingertips, making authentication simple and reliable.
NFT on blockchain, obviously! All the important details about the artwork—like the artist’s name, title, and its entire history—are stored as an NFT on the blockchain. This creates a permanent and transparent record, so you can always trust the provenance and ownership.
Fractional ownership… What if owning a piece of art didn’t mean you had to buy the whole thing? With fractional ownership, artists can sell shares of their work to multiple investors. It’s a game-changer, making the art market more accessible to everyone while still supporting the artist.
The EURO rewards! Here’s the best part—when the artwork is sold or exhibited, smart contracts take care of everything. Investors and the artist get their earnings automatically in digital EURO, no fuss, no delays, just smooth and efficient transactions.
This can work for any valuable object, get in touch if you want to know more.