Blockchain & Art
The applications of blockchain technology for art are powerful, numerous and take various forms. They are not limited to crypto art. Traceability, assurance of transparency in successive sales of a physical work of art (painting, sculpture, photography, etc.), management of ownership and copyright, certification of authenticity and of provenance are among the benefits of using the blockchain.
Control and perpetual rights
Transactions related to artworks can, in a classic way, involve several intermediaries and as many additional costs for the artists. Thanks to blockchain smart contracts, artists will have greater control over the marketing of their production, and will no longer be excluded from the future life of their works during circulation through the hands of various collectors.
Interest for collectors
The authenticity and the certificate of ownership of the work, dematerialized and inviolable, offer protection against loss, theft, destruction of the work and the associated paper certificates. The collector may provide proof of ownership to insurance companies. Blockchain technology allows fragmented ownership of works. Several collectors, whose identity does not need to be revealed, have the possibility of being co-owners of a work within the framework of a smart contract, using sophisticated rules of shared enjoyment.
Certificate of authenticity and certificate of ownership
YourArt offers interested sellers, artists and art galleries, certificates of authenticity for artworks in the form of NFC. NFCs are read/write accessible electronic chips to be physically attached to objects. During the configuration of the chip by the artist or the person certifying the artwork, visuals and a certain number of data relating to the author, the date of creation, the dimensions, are recorded in a file written on the Tezos blockchain. Anyone in the presence of the artwork that has become “phygital” is then able to scan the chip with their smartphone to have access to the tamper-proof certificate of authenticity. The certificate of authenticity guarantees the provenance of the artwork and its traceability.
