No one knows how the first work of art was born. Its history may be traced back to the emergence of humans. Before that there was no written record, the work of art, as a carrier that condenses human wisdom and essence, has a huge humanization value.
Art value
Many items that are popular in the market have only a single value, or worse, hype value. But the artwork is unique. From the beginning of the creation of the artwork to the final product, the multiple values of the artwork make it a fantastic investment. The stories reflected behind artworks are complex and diverse. You can see historical changes, aesthetic transformations, economic development, cultural inheritance, and social innovations from artworks. As society progress, the people’s pursuit and demand for artworks are getting higher and higher.
Art market
According to statistics, the art market in 2017 was US$26.6 billion in the US market, US$13.2 billion in the Chinese market, US$12.9 billion in the UK market, and the total global art market for the year exceeded US$63.7 billion. With the development of the times and the prosperity of the art investment market, the current share of the global art trading market is at least several times of 2017. A growth that’s not seen in other markets.
Artwork dilemma
Under the prosperous nature of the art market, there are also turbulent difficulties that cannot be ignored. When a huge investment crowd and ever-increasing prices appear in the art market, the original market order can no longer cope with it. The art market urgently needs to establish new ecological rules to face the chaotic appraisal standards, credit crisis, chaotic pricing mechanism, and imperfect exit mechanism. What’s more serious is that because too many people have poured into the market, artworks have gradually become a tool and channel for speculation. Most investors no longer value the multiple values of the works themselves, and focus on speculating on the high prices, which has led to the decline of the true essence of art.
Blockchain: A huge benefit to the art world
The emergence of blockchain technology promotes the development of the times, and its application fields are vast and unlimited. When applying blockchain technology to the art industry, the chemical reaction between the two is beyond imaginable. Blockchain can help the art industry by establishing new ecological models and standards. And, on this basis show the characteristics of openness, transparency and traceability.
·Data storage, each artwork has a unique chain code, the supply chain is clear, and fraud is prevented from the source.
·Point-to-point transactions to avoid the problem of information and price imbalance on third-party trading platforms.
·Convenient and reliable online transactions.
Monet: Let the value of art be reborn on the chain
Monet was born for art. In order to preserve the value of the artwork to the greatest extent, Monet used blockchain technology as the underlying support, combined with the DeFi financial concept, named after the great French impressionist painter Monet, to create a true digital ecological platform for artworks. On Monet’s trading platform, all artworks are tokenized. In addition to anchoring the real economic value of artworks, tokenization also fully engraves the artistic value of the works on the chain. It is impossible to fake blockchain data. The characteristics of tampering will always be preserved. Tokenization of artworks also makes transactions convenient and provides users with a complete exit mechanism to protect the interests of investors to the greatest extent.
In the ecological world of art built by Monet, all transactions are fair, prices are transparent, and information is equal to all. At the same time, the digital economy is used to reproduce the value of works that have been lost in the long history of history, so that artists can share their life of work with us once again.
