Francesco Boni, VP and Co-Founder @ArtSquare, introduced ArtSquare to the audience, explaining why it’s the perfect time to bring the art industry fully into the modern Digital Age.
This event entitled ‘Blockchain and the art market, what is really going to happen?’ was moderated by Georgina Adam, some important celebrities of the Art Space as Bernadine Bröker (CEO and CO-Founder, Vastari Group), Paul Stabe (Head of Product Strategy, Artory) and Olivier Marian (CSO & Co-Founder, Arteria) were also attending the event.
There were many people interested in asking questions and find out more about Art and Blockchain. It was very satisfying to see how ArtSquare generated so much interest from many different industry players.
ArtSquare will encourage new capitals participation and the increase of number of transactions per Artwork bringing benefits to all these industry players.
In the traditional Art Market, Art Owners deal with several issues and challenges that limit their options of increasing the value of their portfolios or monetizing the Artworks in their possession.
The main problems ArtSquare will solve to benefit Art Owners are:
a) Maintaining a clear and transparent proof of provenance, conditions, and value for the Artworks
b) Exposure to litigation and governance issues in the case of multiple ownership
c) Locked liquidity in Artworks for the duration of the investment
Investing in Art and Collectibles can be challenging for those new to this asset class. ArtSquare is creating a platform that will solve the greatest problems of investing in an illiquid class that currently relies on unclear information on valuation and provenance.
They will have full transparency regarding Artworks value and their related financial risk and finally, the chance to diversify their portfolio by spreading their capital to different Artwork Tokens.
ART PROS. (ArtSquare Professional Experts)
They are key influencers with proven industry expertise, such as curators and technicians, who assess the value, conditions, and originality of Artworks.
Thanks to their knowledge and skills, they can verify the proof of provenance and value of any given Artwork.
On ArtSquare, Art Pros will filter through the Artworks and then determine whether to launch an IAPO. This is done after checking the provenance documentation and conditions of the Artwork: Art Pros then use their independent judgement and expertise to establish a fair value for the Artworks, which is also reviewed and supported by the feedback of the ArtSquare Community.