Blockchain is the Future of Art
Investing in blue-chip artworks is beyond the grasp of most individuals and typically reserved for UHNWI (ultra-high net-worth individuals). Art auction houses are also open to only a limited crowd and demand the physical presence of the bidders. Furthermore, authentication and certifying high profile artworks is prone to forgery in today's art market.
At Fine Art Blockchain, our mission is to open the door to fine art investment for everyone. We are committed to using blockchain technology to securely authenticate, tokenize, and distribute ownership of high profile artworks for art lovers and investors.
Challenge The Status Quo
Blockchain can make the marketplace safer
Blockchain's capacity to track and verify authenticity through timestamps on transactions and cryptographic signatures can solve existing market anxiety around fraud and forgery.
Fine Art Blockchain enables new art collectors
Historically, most blue-chip artworks are held by individuals. By utilizing blockchain, we are able to convert a monolithic painting into thousands of tokens (via Gallery Tokens), allowing investors and art lovers to purchase fragmented ownership of the painting.
Democratization of Fine Art
Compared to the existing monopolistic art market, we strive to make fine art investment better accessible and provide the correct tools for investors to experience the benefits of owning shares of renowned artworks.
Gallery Token (GalCoin)
Most of the tokens issued through popular ICOs are called utility tokens. Utility tokens do not hold any intrinsic value, but rather provide its investors a gateway to a product and/or service. The valuation of utility tokens is currently very subjective or driven purely by speculative market forces.
There is a new type of token that is gaining popularity and it's called ABT or asset-backed token. An asset-backed token is a blockchain token that is connected to a tangible or digital asset that has economic value such as fine art. This means asset-backed tokens can offer secure, rapid, and minimal trading cost of traditional assets via blockchain technology, and increase liquidity for traditional securities.
Fine Art Blockchain will be utilizing the Gallery Token (GalCoin) to tokenize and distribute ownership of blue-chip artworks.