The art market has traditionally proven to be one of the most lucrative in the world.
It’s also been one of the most exclusive.
With luxury art pieces being controlled by a select group of galleries, museums, and wealthy dealers, serious art investment has been largely left to the rich.
Artchain’s powerful blockchain technology brings game-changing democratization to the art market. This technology looks to decentralize the art market and increase investment opportunities for smaller dealers.
Below, we take a look at how Artchain’s innovative platform allows for this industry-changing democratization.
It Opens the Art Market
As noted, Artchain works to make the ownership of high-end art something that more investors can afford.
In order to do this, it had to offer a unique solution — one, unlike anything the industry has ever seen before. Keep in mind that the value of timeless art increases favourably over time. This can be seen with a famed work by Leonardo da Vinci selling for $450 million just a few short years ago.
While this bodes well for the art market and for wealthy investors in a number of ways, it does pose one serious problem: the number of people who can afford to buy these timeless pieces continues to decrease.
This comes despite the fact that wealth continues to grow around the world since the financial crash of 2008. This is reflected in the $64 billion value of the art market in 2017.
Even still, however, many of these dealers cannot afford the extravagant price tags on some of the world’s most sought-after pieces. Dealers with more modest incomes, in particular, have been forced to buy lesser-known art — or take a risk on the promising artists of today in the hopes that their pieces will be worth something one day.
These situations aren’t exactly what we would call a win-win. That’s why Artchain AI looks to solve this problem by allowing individuals to invest in shares of artwork. These shares can be sold or traded, allowing for the market of timeless pieces to expand.
This offers an innovative solution to dealers and to the art market, but it allows for something even more important than that:
The repatriation of art back into its native countries.
How is this possible?
The crowdfunding capabilities of Artchain make it perfect for raising money for important causes. Currently, these causes include actions such as purchasing art in foreign countries and having them brought back to galleries and museums in their countries of origin.
In this way, Artchain AI offers incredible benefits for both the art market and the art community. Its crowdfunding solutions provide unheard-of flexibility in unifying investors and dealers behind common goals.
The Bottom Line
Artchain AI’s ability to decentralize the art market provides a number of previously-impossible benefits. By expanding the market and giving investors and dealers more power, Artchain AI revolutionizes traditional methods of art dealing and funding.
In this way, its decentralization and democratization of art look to redefine the market in a number of key ways.
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