Crypto wallet provider Kresus has partnered with Christie’s to bring blockchain technology to art ownership.
As part of Christie’s photography auction, “An Eye Towards the Real: Photographs from the Collection of Ambassador Trevor Traina,” Kresus will issue digital Certificates of Ownership for over 130 artworks, according to a press release shared with crypto.news.
Christie’s is one of the world’s leading auction houses, specializing in the sale of fine art, antiques, jewelry, and collectibles.
Certificate of art ownership via the blockchain
This partnership involves using the Base blockchain, developed by Coinbase, to mint unique digital certificates for each art piece sold. These certificates provide a secure way to verify ownership and track the history of the artwork.
Buyers will be able to access their certificates through the Kresus wallet, offering a modern alternative to traditional paper records. Blockchain is often used in crypto transactions, but in this case, it provides an unchangeable digital record of who owns each artwork.
For collectors, this means they have a secure, digital way to prove ownership, replacing paperwork that can easily be lost or forged.
Trevor Traina, the founder of Kresus, emphasized that managing art collections can be complicated, and blockchain simplifies this process.
“As an art collector, I am well aware of the burden of managing and maintaining provenance and proper documentation- often in paper form and in file cabinets. This partnership with Christie’s exemplifies how technology can enhance the experience for collectors, providing a secure, digital way to manage physical assets.”
Trevor Traina
The auction features works by renowned photographers, including Diane Arbus and Cindy Sherman, with Kresus’ blockchain certificates highlighting how art ownership is evolving into the digital age.
Source: https://crypto.news/christies-to-issue-blockchain-based-ownership-certificates/