Art has always been a great way to express ourselves in various styles. But, now art joins hands with technology and this way there will be more room for innovation!
What’s even better, technology has the solutions to all the art community’s problems. Every year the art market is filled with inauthentic fake artworks. This has become a primary issue and has existed in the art community for a long time.But, no need to panic! The tech industry will save the day!
So, you do know the primary issue of the art community. It’s the creation of fake artworks. This is where the ArtWallet steps in. ArtWallet basically put the “DNA of Art” on the blockchain. Just the way your DNA is analyzed to prove your identity, lineage and origin. The idea is that the “DNA of Art” immutably attest to the art piece’s ownership history, provenance and authenticity. Isn’t that interesting?
Artwallet is creating a world where the world of crypto and art are one! If we all are one; new innovations, disruptive and efficient ways to sell, buy and exchange art masterpieces will be introduced. Which will not only benefit both the communities. But will also help them grow into a larger market!
Now here’s how you secure the original masterpieces. Ensure the authenticity of masterpieces entering ArtWallet go through a multi-signatory process. This is where world-class art authorities take it in their hands to inspect and audit each masterpiece. This is a great way to put an end to fake pieces in the market once and for all.
Since, the DNA of each artwork gets stored on a decentralized file storage systems which ensures that no single entity has the ability to tamper with the authentication provenance data.
To ensure more authenticity, each DNA will include a title, artists name, date of creation, country of provenance, high-resolution picture and certificate of authenticity and other data. This is the right way to do it. Make your masterpiece secure and don’t let any other artist take your limelight.
Ownership of Art Masterpieces
Once the masterpiece has been certified as genuine, the artwork will go through what is known as the “initial art offering” process. This is a process in which the auction is gone through to essentially securitize the artwork with Bitcoin tokens. The British artist Lincoln Townley recently sold an entire collection of art for the cryptocurrency. Isn’t that just fantastic? There will be a clear demand for them when Artwallets platform is live. We just cannot wait for it!
Shake the Art Industry
Technology has progressed so much over time that we have seen an explosion in economic innovation, growth and creativity. It has created an unlimited amount of opportunities for the masses. Now everybody can afford a computer as they are easily available and cheap. After all technology has made a platform available like Artwallet available to us.
So we have to thank the technology! The art industry has been stagnant for some time and the blockchain technology has the potential to shake the art world. It’s just the beginning of artsy era!