The distributed ledger has been embraced by leaders in various industries; technology, humanitarian aid, education and it is now making way into the Art industry. The Art world is considering and experimenting with ways to revolutionize using blockchain for art. This would change how Art is owned and sold, and equally minimize or remove entirely the friction encountered during Art auctioning. Many Art collectors, investors, and artists are collectively embracing this new development.
Visual artists are now focused on designing digital artwork, shifting away from the traditional pattern, and these digital artworks might never possess a bodily presence. However, the digital files can and will always be duplicated or replicated and dispersed without the consent of the artist. By registering their artwork on a blockchain marketplace like 0xowns.art, artworks can now have blockchain Art provenance which is a much-needed feature in the Art market.
Forgeries are significant issues faced by Artists. Collectors are always worried about an Art authenticity of purchase, but blockchain platforms like 0xowns.art are used to ensure Art ownership are transferable and tracked.
The Art Investor
0xowns.art an example of blockchain technology and art. This blockchain art gallery which is developed on Ethereum brings together blockchain digital artists and Art investors together. Arts ownership can be conveyed on the platform without an exchange of tokens or assets. The record of ownership is shifted to the buyer via the Ethereum transaction hash with which he bought the Art from the seller.
How 0xowns.art Blockchain Technology Keeps Art Ownership Transparent
- An artist designs a new piece and lists on 0xowns.art to make a sale.
- When the work is purchased, the art ownership is conveyed to the buyer on the same platform.
- Every time the artwork is resold, the art ownership is transferred with it.
- The art transactions are permanently stored on Ethereum blockchain so buyers and sellers can easily track the history of ownership.