Today the Art and Blockchain related news made this clear that art industry has interest in blockchain.
Since the increase in such news many conferences were organized to the subject. One of popular Ethereal Summit, a global conference about blockchain technology set the value on the art world. In the last year event on blockchain and art world, speakers discussed technology’s positive and negative aspects, wondering if the art world is ready for blockchain, and if so, if it could have a worthwhile impact.
Blockchain as medium
Going forward, using blockchain artists are also taking blockchain a step further and consolidating it into their profession.
Last year in November, Auction Company Christie’s New York made art world history when it join hands with blockchain-secured registry Artory. According to the forbes the auction house’s $318 million sale of the Barney A. Ebsworth collection was one of the most important sales of the year. The complete transaction was made through blockchain.
Not only digital art
From the last five years, digital artists have been at the leading position of blockchain revolution. As well some artists are looking at ways blockchain can inflate the trade in physical art. Just as digital art benefits from established record of ownership, the regular art market is also acquiring blockchain technology.
0xowns.art Turns Ownership into Art
As we all are familiar with the Ethereum (ETH ) which is an open-source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. 0xowns.art is a platform for ETH users where they can check the art work’s current market value, purchase it, and also can set a resale price. The whole process works without any tokens and by recording the transaction in the Ethereum blockchain the ownership is granted.
At 0xowns.art the work shows only in the transactions executed by the site’s visitors. Buyers at 0xowns.art will not have their names recorded as owners of the work. They will not be remembered by features on a panel displaying behind docent’s stations. They will be making art history as contributor in the first global assertion of ownership as art.