Maecenas - an art platform - is using blockchain technology to create a secure trading market in fine art for owners and investors
Art investors, collectors and owners will be able to trade shares in fine art for the first time on a unique online marketplace powered by blockchain technology. Maecenas is a new platform that will match art owners with investors, creating a fair and open market, reducing costs and bringing transparency to a traditionally opaque world.
It will also allow any investor to have a fractional share of a masterpiece.Its creators are using blockchain technology to create an open exchange where works of art valued at more than $1 million can be traded in real time as liquid financial units.
Through the use of cryptography, blockchain will enable transactions using digital ledgers that provide transparency, trust and security – aspects of the art market that have long been missing but are now finally possible.>See also: Emerging from bitcoin’s shadow: The rise of blockchain
Expensive and illiquid artworks can be now be converted into smaller and more liquid tradable financial units, very much like shares of a company, which could then be traded frequently through an open exchange. Portfolio managers could then price their positions more accurately, and could diversify their risk by investing in a range of different art assets as opposed to having their funds concentrated in a handful of pieces which can be hard to sell....continue reading: http://www.information-age.com/blockchain-new-art-tech-marketplace-123466111/
Art investors, collectors and owners will be able to trade shares in fine art for the first time on a unique online marketplace powered by blockchain technology. Maecenas is a new platform that will match art owners with investors, creating a fair and open market, reducing costs and bringing transparency to a traditionally opaque world.
It will also allow any investor to have a fractional share of a masterpiece.Its creators are using blockchain technology to create an open exchange where works of art valued at more than $1 million can be traded in real time as liquid financial units.
Through the use of cryptography, blockchain will enable transactions using digital ledgers that provide transparency, trust and security – aspects of the art market that have long been missing but are now finally possible.>See also: Emerging from bitcoin’s shadow: The rise of blockchain
Expensive and illiquid artworks can be now be converted into smaller and more liquid tradable financial units, very much like shares of a company, which could then be traded frequently through an open exchange. Portfolio managers could then price their positions more accurately, and could diversify their risk by investing in a range of different art assets as opposed to having their funds concentrated in a handful of pieces which can be hard to sell....continue reading: http://www.information-age.com/blockchain-new-art-tech-marketplace-123466111/