Ever since the Blockchain Industry began disrupting various industries, new variations continued to emerge. Creativity and fine arts have also merged with the distributed ledger systems to create a whole new platform for investment. Even as the president of AIAF stated, “Artwork is no longer a piece of jewelry in an ivory tower”, the world of art, in the present era, has the key to make financial transactions via the Blockchain Technology. In the field of fine art investment, the Blockchain Technology provides increased liquidity, improved accessibility and transparency.
Investment in the world of Art seems to be a burgeoning interest in China. The Chinese art marketplace has transformed into a billion dollars market which accounts for about 1/3 of the global art trading volume. Also, the reason why the Chinese art marketplace grew rapidly is that the middle class in China is booming. Looking through the perspective of an investor of art in China, on one hand, there is a large quantity of affluence while on the other; there is a lack of good fine art investment channels. Fine Art Investment has been the privilege of only a wealthy few due to the exorbitant price and lack of trust in the marketplace.
Integrating Blockchain Technology in Fine Art Investment
When we consider a pie graph of various industries in the Blockchain Technology, the industry of art holds just 5% of it. The difficulty of coordination between stakeholders in working together to develop an effective platform is one main reason behind it. Many of the common people or potential investors do not realize that the Blockchain Technology works with fine art investment to eliminate intermediaries and democratize fine art trading in legally-scored and secure ways.
By using the Blockchain technology, ownership of an artwork can be tokenized, breaking them down into smaller units which can be traded on the fine art investment platform. ArtWook’s Blockchain platform aims to revolutionize the fine art investment industry by providing opportunities for art investors to partially own and trade artworks like a Picasso.
ArtWook: Fine Art Investment Platform powered by the Blockchain Technology
ArtWook aims at constructing a universal art investment and trade platform that is decentralized through the Blockchain Technology. It also takes measures to offer professional art investors with the opportunity to possess partial ownership in world famous and antique paintings and trade them productively on an exchange platform.
ArtWook’s team of art specialists will coordinate with museums, galleries, collectors and prominent auction houses to bring genuine artworks with significant values at or above $1 million to the art investment platform. The ArtWook art investment platform provides a complete trustworthy environment for the artwork transactions protecting the legitimate rights and interests of the platform investors.
The Two Major Characteristics of the ArtWook Platform
The ArtWook Platform addresses two pain points on the market. First, it considerably lowers the barriers to entry of fine art investment, giving ordinary people a chance to partially own a famous painting. For example, if a well-known Picasso’s painting costs $10,000,000, only few investors could afford it. ArtWook platform factionalizes and tokenizes the ownership of the Picasso’s painting so that people can buy 1% of the ownership. The partial or a fractionalized ownership of that Picasso’s painting is legally requisite and protected.
Second, the ArtWook platform turns the art investment into liquid asset by operating an exchange where the investors can trade their fractional ownership securely and instantly. On the whole, ArtWook is the intermediary platform that bridges the gap between collectors and investors.
ArtWook ICO: AKC Token
AKC token, the primary token of the ArtWook Fine Art Investment can be used to pay commissions for trading on this platform. If the customer chooses to use AKC to pay the commission, we will offset the actual commission based on the AKC cash value of the designated exchange, and we will give the user a partial reduction of the commission during settlement, with a maximum reduction rate of 50%. In the future, as the ArtWook platform develops further, we look forward to other uses for the AKC token. Any unsold tokens would be sold towards institutional and private investors.
ArtWook ICO Token Sales Details
Price: 1ETH = 3,000 AKC
Platform: Ethereum (ETH)
Hard cap: 9,000,000 AKC
To know more about ArtWook’s Fine Art Investment Platform and its ICO, please visit, https://artwook.com/#index