Art Tokenization Service Company

Today, blockchain technology is heralding a change in the art industry. This industry was originally limited to only a selected network of investors. Moreover, most artworks are very expensive which make them inaccessible to everyday investors. However, blockchain technology is changing this through the process of art tokenization . Let us look at how it works: First, the artwork will be valued by a certified curator.  Now the tokenization process begins. Certificates ascertaining the value and authenticity of the artwork will be stored on the blockchain. Tokens will be issued, with each carrying a monetary value as well as representing ownership. The token issuer will begin marketing the artwork to attract investors. Token holders will be granted proportional ownership to the artwork. Investors view the art sector as a potential investment option and are encouraged to create portfolios. Blockchain App Factory is a top art token development company . They provide so...

In 2018, something peculiar happened in the art industry. This time it wasn’t another controversial nude painting or a lost artwork recovered from the Nazi archives. In fact, it had nothing to do with the paint, brush or canvas. That year, a little known startup called Maecenas introduced a revolutionary concept to the industry involving blockchains and cryptocurrencies. Until then, the art industry was notoriously archaic. Paintings, sculptures and other art paraphernalia was sold through the gavel and paddle method. Meanwhile, the auctions were open to only a limited crowd and demanded the physical presence of the bidders. Furthermore, the extravagant prices of the featured pieces made it difficult to sell the artworks. What Maecenas did was to turn the entire industry on its head. Sometime in September of 2018, the company marketed the seminal piece, “14 Small Electric Chairs” by American pop art pioneer, Andy Warhol. At the time, this artwork was valued at $1.7 million and th...