This month ArtSquare.io has achieved a very important milestone in its journey towards a more open art market. Andy Warhol’s Kiku has become the first artwork to be fully converted into digital art shares, which you can now buy for €1 each.
On June 20, ArtSquare.io was invited to present its innovative vision at the ‘The Future Technology in Art’ event organised by the London Technology Club at the Royal Academy of Arts, London. The breakfast attracted investors in the fine art and creative industries alongside innovators who are using digital tools to change the art world.
Our CEO Fabrizio D’Aloia took part in a panel discussion on the role of technology in shaping the way art is made, displayed, and invested in, alongside Tom Best (The Auction Collective), Harry Blain (Sedition), Bernadine Brocker Wieder (Vastari) and Robert Norton (Verisart).
“ArtSquare.io uses Blockchain Technology to fractionalise art by issuing digital art shares which represent fractional ownership of artworks. We are opening up a new economic scenario, turning a previously illiquid asset class into a liquid one and encouraging transactions.”
Fabrizio D’Aloia, CEO at ArtSquare.io
The audience was excited to hear about how fractionalisation and digital co-ownership –aspects which involve the legal and financial aspects of art–go hand in hand with innovations which interest the way we interact with art, such as VR technology. Imagine owning pieces of multiple artworks acquired through ArtSquare.io’s digital live listing: with a VR headset or other kinds of digital projection you will be able to create and navigate your own virtual collection, or again visit an exhibition or museum where the artwork you partially own is shown. Sharing this immersive experience with your friends will be possible in the near future. It was a honour to share ArtSquare.io’s groundbreaking project before LTC members and audience and contribute to the ongoing conversion on the impact of technology on the art world.