Reviving Art World Through Blockchain
Blockchain technology and arts play jointly towards the realization of human ideals and stand to bring radical architectural change to the world. Beginning with the financial system and current creative industries. Both have a positive influence and play a critical role in cultural and civic engagement. Nowadays, blockchain projects creators find inspiration in arts and use blockchain technology to revolutionize its creation, distribution, and perception.
Blockchain
technology can actually help raise capital for artists and also get more
collectors into fine art. The value proposition to collectors is very clear.
Especially if you are in their home and then you point out a piece of art and
say this is a wonderful piece of art and then enquire about its today’s worth
and then their answer is absolutely not. They would have to hire someone, pay
money to an auction house, or an expert, and then they will get a value.
Blockchain crashes all the barriers at every point, just like if you were to
look up the value of your car you would know in an instant how much your
artwork is worth right now. It really impacts the business model that you have.
Basically, it
started with a financial model of understanding how much is an artist worth,
what is their brand value, what is the value of not only their artwork but, why
do certain artist's values increase. An investment bank analyses how much a
stock should be when they issue the amount that is applied, that logic, and
that modelling to the art world. Step-by-step analyse the value of an artist’s
career because there are so many maybes and what-ifs age could be a concern for
this style of work. They use a few ingredients, so some of the ingredients are
absolutely what is their current value selling out, what was their initial
value, what shows have they done, what fairs have they gone to who are their
collectors, who are their main patrons are they known patrons how they have
done shows in particular museums have they done any institutional custom work
we're not trying to reinvent the wheel of how to appraise an artist we're just
applying quantitative analysis.
Age, number of
works created, the volume of sales, how quickly do artworks sell, and then we also have to take into account,
have they had adequate exposure? because a lot of the times artists are
restricted by Geographic location, the demographics of the people around them
and so we believe by using the internet properly not just posting something on
a website but using we have a tremendous amount of artificial intelligence and
I would say enhanced search tools so that we can match more accurately
potential collectors and patrons with artists regardless of location so it's
essentially crowdfunding for artists it's yes then more power as well now on
the flip side you've got the collectors as well yes and that market is actually
going to broaden out because you're not going to be getting fine art collectors
who already have a huge collection at home it could be everyone from a high
school student to someone working at a bank and it can be a house mom with two babies
crawling around on the floor that wants to have more exposure to the art world
to have pathos and an ethos connection to the artists. So far, we have seen our
blockchain solutions where it's trying to securitize the value of a piece of
art right and having one piece and if the value of the art goes up then you
also benefit from that. To create secondary market demand for that token to
create liquidity it would take an unbelievable amount of users, hundreds of
millions of users is what we estimate to create actual liquidity so that when
you have this artist token you can sell it and have a buyer within
seconds like you were to sell Microsoft stock.
An economic
standpoint how do you create a free market? This is like a stock market for
artists is really what they are doing. It is allowing people to have vested
interests in their entire career for the life of their work doesn't this turn
the world into two transaction-driven. There are no artists out there, they don't
want people to be investing in them as if they were just another commodity,
they want to sell right their art the traditional way and have collectors being
invested in their work. So, if we've raised money for them then we have
expectations that they have to outline so like if there are style changes and
the collector doesn't necessarily want to promote this or invest in this
anymore, we would advise them to sell.
About ARTW
The ARTW is a blockchain based Art verification and art trading
platform. We are building an Art ecosystem which will enable all the
stakeholders of the industry - Artists, collectors, art enthusiasts, art
exhibitors & galleries and institutional buyers to buy/sell genuine,
verified artwork from our trading platform. Moreover, ARTW Token is the
inherent part of our art ecosystem. It is a utility token based on binance
smart chain BEP 20 standard. Our tokens can be used to purchase Artworks from
the participating galleries and our own ART marketplace.
To know more about ARTW visit theartwcoin.com
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