ArtSquare FAQ

LISTING & PREBOOKING

Artworks are sold to our community through a process of listing. This involves the fragmentation of its value into an agreed number of Digital Art Shares, or DAS. DAS are listed and sold at the same price during live sales for a limited time. At the end of the live sale, our community can start trading DAS on the ArtSquare Exchange, our secondary market.

We use Blockchain technology to divide the value of artworks into equal portions, the Digital Art Shares. This process is called “tokenization” and allows us to issue real, tradable shares for physical assets like paintings and sculptures. DAS live on Blockchain, meaning that they can be securely bought and sold. Together with DAS, we issue a Modular Smart Contract that is also stored on Blockchain. The creation of a Modular Smart Contract guarantees that ownership rights of DAS are legally defined, protected, and immutable.

To buy and prebook Digital Art Shares using fiat currencies, you need to add funds to your Wallet first.

 

  1. In your ArtSquare account, tap the Wallet icon on the left or click Deposit Funds next to your name.

  2. Type the amount you wish to deposit in the Credit Card Deposit section and press Submit. You will be directed to a secure payment method system.

  3. Check your Balance and Transaction Record to keep track of your funds.

You can buy Digital Art Shares during a Live Listing using fiat currencies.

 

To buy DAS, you first need to add funds to your Wallet using your credit or debit card.

  1. In your ArtSquare account, tap the Wallet icon on the left or click Deposit Funds next to your name.

  2. Type the amount you wish to deposit in the Credit Card Deposit section and press Submit. You will be redirected to a secure payment method system.

  3. Check your Balance and Transaction Record to keep track of your funds.

 

To buy DAS for a Live Listing:

  1. Go to Listing. Check which artwork is live.

  2. Enter an amount of DAS and then click Buy.

  3. Enjoy your new DAS in your Portfolio.

 

You can keep track of your purchase orders in the Transactions section of your Portfolio and Wallet.

If you tried to buy Digital Art Shares for an artwork on listing and your request was rejected, it means that you don’t have enough balance in your Wallet.

 

To add funds to your Wallet:

  1. In your ArtSquare account, tap the Wallet icon on the left or click Deposit Funds next to your name.

  2. Type the amount you wish to deposit in the Credit Card Deposit section and press Submit. You will be directed to a secure payment method system.

  3. Check your Balance and Transaction Record to keep track of your funds.

 

You can keep track of your purchase orders in the Transactions section of your Portfolio and Wallet.

You can prebook Digital Art Shares of an artwork ahead of its listing. By placing a prebooking order, you will secure DAS of an artwork before it is sold live. Generally, DAS can be prebooked starting from two weeks before the scheduled live sale.

 

  1. Go to Listing. Check which artwork is on Prebook.

  2. Enter an amount of DAS and click Prebook.

 

All prebooking orders are processed before the sale goes live. To make sure that your payment is successful, you need to have enough funds in your Wallet to cover the whole amount of your order by the start of the Listing. We will send you a reminder 24 hours before the Listing goes live and prompt you to deposit funds.

 

To add funds to your Wallet:

  1. In your ArtSquare account, tap the Wallet icon on the left or click Deposit Funds next to your name.

  2. Type the amount you wish to deposit in the Credit Card Deposit section and press Submit. You will be directed to a secure payment method system.

  3. Check your Balance and Transaction Record to keep track of your funds.

If you don’t have enough funds in your Wallet by the start of the listing, we can’t process your prebooking order. We will only process orders that you are able to pay in full. To make sure that your order is successful, you need to have sufficient funds to cover the cost of the total amount of Digital Art Shares in each individual order.

 

If you fail to add funds to your Wallet by the start of the Listing, we will unlock your prebooked DAS from your Portfolio and offer them for sale during the listing. You can still buy DAS by heading to Live Listing in your ArtSquare account.

GIFT

You can donate Digital Art Shares to your friends by buying them during a live listing or prebooking them.

 

  1. In your ArtSquare account, head to Listing. Select an artwork on Listing or on Prebook.

  2. Enter you friend’s email address. They don’t need to be ArtSquare users.

  3. Enter the amount of DAS you wish to donate.

  4. Click Gift.

 

We will notify the person you’re donating DAS to that your gift is on its way to their Portfolio. They have 15 days to claim or reject your gift.

When someone in the ArtSquare community gets you Digital Art Shares as a gift, we always notify you by email. To redeem your gift, just tap CLAIM in the email. To turn down your gift, tap REJECT. If you’re new to ArtSquare, you first need to sign up and create an account to claim your gift. Once you have created your account, you will be redirected to your Portfolio, where you can decide to CLAIM or REJECT your gift.

 

Once you redeem your gift, DAS will be added immediately to your Portfolio. If the sender of the gift purchased DAS for an artwork on prebook, DAS will be added to your Portfolio as soon as the listing of the artwork goes live.

The recipient of the gift might decide to reject your gift or fail to claim it within the following 15 days of your donation. In both cases, DAS will be unlocked into your own Portfolio.

TOP INVESTORS

You can become the Top Investor by buying the greatest number of Digital Art Shares for an artwork during the Live Listing. To know your ranking, head to the artwork page in your ArtSquare Account and check the Top Investors chart.

 

If you are Top Investor, we will notify you as soon as the listing ends and guide you through your next moves. If you’re not just there yet, you can start trading DAS on the ArtSquare Exchange and keep climbing the chart.

As Top Investor you can enjoy exclusive benefits, including a 6-month period of physical ownership of the artwork. We will notify you by email of your status and let you know what happens next. This usually happens at the end of the listing.

 

Your rights as the majority holder of Digital Art Shares of an artwork are defined in the Modular Smart Contract, a legally-binding agreement defining terms and conditions of ownership of DAS.

 

To review the Modular Smart Contract:

  1. Head to the artwork’s page, whether it is on Listing or on Prebook.

  2. Download the PDF.

Didn’t find an answer to your question? Contact us and we’ll get back to you.