April 15th in Dubai—a day poised to change the art industry and the broader real-world assets sector for good. But what exactly are real-world assets and how do they relate to art?
Real-world assets (RWAs) are essentially valuable tangible items that exist in the real world, not just in the digital one. RWAs encompass things you can touch, like real estate, artworks, and commodities like gold.
The crucial aspect is the integration of these assets onto a blockchain through a process known as tokenization. This process results in the creation of a digital token representing the real-world asset. Tokenization makes it easier to buy and sell these assets while simultaneously unlocking new market opportunities.
In 2023 alone, the RWA sector experienced a remarkable growth of 600%. The momentum driven by blockchain technology and RWA tokenization is anticipated to continue propelling the market into new dimensions in the future.
RWAs are making waves in numerous industries, including art. Leading the trend of RWA tokenization in the art industry is 10101.art, a revolutionary platform making valuable art accessible to every art enthusiast.
Physical Art for Crypto: 10101.art’s Art Revolution
10101.art aims to democratize access to the art market by implementing collective art ownership. Through 10101.art, individuals can now become legal owners of iconic artworks by world-renowned artists such as Picasso, Dali, Warhol, and others. This is achieved through art tokenization and a unique legal framework developed specifically for 10101.art.
Art, like any other real-world asset, can be brought into the digital realm with the power of blockchain. Essentially, this is the essence of art tokenization. Here’s how this process works at 10101.art:
- Discovering Artworks: A team of specialists from 10101.art scours valuable collections, auction houses, and galleries to find exclusive paintings. Each piece is meticulously examined to ensure authenticity.
- Securing Digital Records: Every artwork is scanned and uploaded for safekeeping on a secure, decentralized system. This guarantees the integrity and accessibility of the digital record.
- Collective Ownership: Using smart contracts, the team splits the ownership of each artwork into tokens. These contracts clearly define the number of tokens representing the piece and their initial value.
- Becoming a Co-Owner: When someone purchases a token, they become a legal co-owner of the original artwork. Each token represents a portion of ownership, providing a verifiable claim to the piece itself.
10101.art’s paintings collection includes works by Picasso, Dali, Banksy, Warhol, and Gus Van Sant with many more yet to come.
“We believe it’s time for a more welcoming approach to art ownership. 10101.art is using technology and collaboration to create a more enriching experience for everyone. This event marks a significant step in that journey, and we’d love for all industry leaders and art enthusiasts to join us in shaping the future of art collecting.”
– Alina Krot, CEO of 10101.art
Where To View 10101.art’s Collection Live
Monada Art Gallery is located in the Ritz-Carlton in Dubai International Financial Center (DIFC). Its mission parallels that of 10101.art, which is to rekindle the greatness of fine art. Monada Art and 10101.art are partners, ensuring that every physical painting offered by 10101.art will be accessible in the gallery for everyone to view in person.
The Grand Launch Party
10101.art, a revolutionary art tokenization platform, went live on April 15th. The event took place at Monada Art Gallery in the Ritz-Carlton, DIFC. It was a private celebration night that united leading figures and artistic visionaries of the modern art market. Let’s explore the project in greater detail and discover what was in store for event attendees.
This exclusive networking event served as a starting point for a genuine art revolution. The event’s agenda included:
- Networking opportunities with industry leaders and fellow art enthusiasts;
- Meeting Alina Krot, CEO of 10101.art;
- Exploring a curated collection of authentic paintings, such as Picasso’s “Portrait de Dora Maar,” Dalí’s “Tree-Man with Flayed Heart” and “Nature Morte au Verre sous la Lampe,“ as well as captivating works by Banksy, and others.
- Opportunity to be among the first ones to purchase original artworks by Banksy and Warhol during an exclusive pre-sale.
This event marked a major step towards reshaping art ownership not only for 10101.art but also for the global art community in general. The revolution of art has officially started, and 10101.art is spearheading it.
Disclaimer: This is a paid post and should not be treated as news/advice.
Source: https://ambcrypto.com/granted-digital-heritage-picasso-dali-now-sold-for-crypto/