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For those who do not know, blockchain and art are two different worlds. But just as technologists have learned to be creative in their way of thinking, so creative thinkers have learned to be technology experts in their actions. Like anyone who has seen Ocean's 11, thieves can be some of the most creative professionals in the world.
DLP technology (Distributed Ledger Technology) combines these disparate worlds to solve a centuries-old problem: finding fake artists and thieves and demonstrating creative authenticity through technology.
It is a huge problem that has lasted for centuries, one of which is influenced by masters such as Picasso, da Vinci and Van Gogh.
These statistics may surprise you.
More than 9 out of 10 antiques on sale on eBay are suspected of being fake.
In the United Kingdom, more than $ 480 million of art is stolen each year. Ninety percent (90%) of museum theft involves an insider (making prosecution difficult). Nearly 100,000 pieces stolen by the Nazis during the Second World War are still missing, according to the research firm Havocscope.
Blockchain is made for art
So, how does Blockchain help artists? Immortalizing immutably on a shared database the originality and veracity of a masterpiece or a rare collector's item.
Tracing these precious articles and making sure their records creates a chain of custody that documents the sequence of control, ownership and transfer of the pieces. This includes recording the history of a work of art as the date / time of key events: auctions, prices, shipping and other verified information without necessarily divulging sensitive information, such as identities of owners (millionaires or billionaires) ).
Blockchain builds trust and instills trust in stakeholders in an industry whose participants face the continuing risk of theft, forgery and unauthorized copies of high-value masterpieces or scarce collectibles.
This is exactly what Artory of New York is providing for art collectors and the world's leading auction houses. This week, the blockchain shareholder recorded a $ 318 million auction in New York on The Artory Registry that stores key information on digital accounting and issues (anonymous) property certificates along with other digital signatures that protect investors, brokers and creators themselves.
"The sale … marked the first time that an art auction at this price level was recorded on a blockchain, via a secure digital register managed by Artory," Christie's leading auction house announced on November 13th.
And the collectibles are not far behind
Regardless of physical and collectible art, blockchain has use cases for Web 3.0 digital works such as CryptoKitties and the hundreds of scripts (word games) that are expected to follow. The viral sensation is stored in the Ethereum network from which users can take care and generate unique virtual kittens of their kind. Like traditional collector's items, CryptoKitties can be bought and sold.
It is reasonable to expect similar concepts in the future, from virtual superheroes to digital athletes to sexy and bikini characters that users can develop on blockchain and sell for profit. These avatars represent the future idolatry of the young crowd, since their minds are wrapped around electronic realities.
Digital scarcity therefore represents an emerging business opportunity for operators who are able to take advantage of blockchain technology and guarantee the authenticity of an article. The Art Market Report estimates that global art is at least a $ 40 billion market, while the collectibles market amounts to about $ 200 billion.
Human beings are, like jackdaws, collectors. We pay millions for copies of Superman comics, Mustang makes Steve McQueen famous and – of course – works of art. Those millions are badly spent if the objects in question are as common as those of us who glory in their genius.
Beyond the world of collecting, the Greek philosopher Aristotle considered technology as an extension of nature. Blockchain technology is revolutionary because, just like nature, it gives creators the divine power to create unique objects or "live" avatars and creatures that can never be counterfeited or copied.
Through the extension of nature, technology, man can bring to life so far non-existent characters based on his interpretation of what the universe should be.
And now, they are patentable.
The author holds digital assets but none mentioned in this article.
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