“China is showing a burgeoning interest in art and art investment. Artwork is no longer a piece of jewelry in an ivory tower.” said the president of the AIAF in his welcome speech. Art no longer has to be something only for a select few — financial transactions in art have been unlocked. Furthermore, the younger generation is showing a growing interest in Art transactions, trades, and investment.
First of all, I want to thank our community for the great support and vibrant energy that characterises our social media channels and our Telegram chat group. I’m a firm believer that no project can be successful without a strong community and I’m really proud of ours.
In 2018, Maecenas will be launching the first open blockchain platform that democratizes access to fine art. Now people who have always dreamed of owning famous paintings can buy shares in a Picasso, Warhol, Monet, etc. On the flipside, galleries, museums, and collectors can offer up works from their collection for bid on Maecenas to raise money for the purchase of future works (while leaving their collection intact). This may sound like a regular art fund, but remember that blockchain cuts out the middleman, greatly reducing the transaction costs. The transaction cost with blockchain is so low that Maecenas can theoretically let you invest as little as fractions of a penny using cryptocurrency without taking the hit of transaction fees. Maecenas shares the use case below on their website. It does a nice job of illustrating the savings that occur with using blockchain versus traditional transactions.
Art investment without intermediaries.
Maecenas offers the most competitive fees in the fine art market.
Access to Masterpieces and Art Funds
Safe Storage and Insurance
Real-time Trading of Art Shares
Cryptographic Art Provenance (Blockchain)
Transparent Transactions via SmartContracts
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