The vigorous development of the art market may be good news for some people, but for many collectors and investors, it means that prices are rising and it is increasingly difficult to obtain high-quality art.
For a long time, art investment has been one of the most dynamic and attractive investment fields. It’s a very challenging market as rare collectible arts are hard to find and often fraudulent. The secrecy of the original owner, fakes, money laundering are just the few problems that the industry is facing.
The global art market needs reform. Blockchain technology is the perfect tool to improve the order of the existing art market, making it more scalable and standardized. Monet uses blockchain technology to reshape the art world. Monet is named after the French painter Claude Monet. It aims to reproduce the spirit of Monet through the blockchain network and enhance the value of the entire art world.
Monet is one of the most important painters in France, as well as one of the representatives and founders of Impressionism. Most of the theory and practice of Impressionism taught today was according to his work. Monet is good at experiments and performance techniques of light and shadow. His most important style is to change the painting method of shadows and contour lines. In Monet’s paintings, the shadows are portrayed with a light touch and no prominent contour lines. The color depiction of light and shadow is the biggest feature of Monet’s paintings.
On May 14, 2019, Monet’s work “Haystack” was sold at Sotheby’s in New York for a record-breaking price of US$110.7 million. This is the highest auction price record for Monet’s works, and also the highest auction record for Impressionist paintings. However, the value of Monet’s works is far more than these figures, we believe that the most precious thing is Monet’s spirit that remains in his works.
Economic value is not the only criterion for judging an excellent artwork. It is also about the spirit and history conveyed by the artwork itself to the viewers. The end of the artwork should not be just about investment. It should be appreciated so that the public can feel the emotions conveyed by the art and the soul of the creator.
Monet builds a digital art platform based on the blockchain, uses data to retain the artistic spirit which creates a new art world. And, it helps the market to upgrade and change the original way of selling, trading and enjoying artworks.
Monet opens up new opportunities in the booming art market. The platform created by Monet has a diverse portfolio of high-end artworks without having to bear high fees. The data on the chain can be easily traced back to the source of each artwork and can be checked by everyone. Full disclosure of this kind of data helps to increase the transparency of the art market and is an effective tool to combat fraud. Also, blockchain provides a new way to directly interact with artists, establish a peer-to-peer market between creators and investors, and pave the way for asymmetric information.
The Monet platform is an excellent example of “tokenization”. The digital economy model not only promotes the art market but will also extend to many fields such as finance and healthcare in the future.
Tokenization is the process of using the blockchain to issue digital certificates, and the unique code confirms the value of the work. Monet uses tokens to replicate the value of works on the blockchain into a digital asset, which provides users with many advantages. On Monet, you can imagine:
1. Artwork rights and safe and easy transactions
Whether it is original or secondary creation, the decentralized nature of the Monet platform will fully guarantee the ownership of the work. And nobody can tamper with it. The sale and purchase of works will be easier and cheaper, and there is no need for third-party platforms. Allowing transaction methods to be more convenient. The platform transaction is point-to-point, and the exchange of tokens can be easily completed without needing to trust a centralized party. The circulation information is public and can be tracked. We believe this will increase trust and liquidity as trading activity will increase drastically.
2. Authenticity and source
The token has asset attributes and can also be used to represent information. Therefore, a shared trusted database will be established during the circulation of the token. This data can be used to verify the authenticity and source of the work, the identity verification of both parties to the transaction, etc. The data on the chain enables the credibility and flexibility of the online art market on the Monet platform which are enhanced, and all parties can safely exchange and transfer their digital assets.
3. Protect “Digital Monet”
The last and most important point is that the token issued by the Monet platform based on the blockchain is the only one that cannot be copied or tampered with (after it is generated), and the ownership is clear. This is the pure digital art foundation for maintaining and transferring its ownership, and it is also the construction of a new type of trading artworks. Definitely a good start to the digital art market.
These are not theories. This is what Monet is doing. It uses the advantages of the blockchain to certify artworks, so that its original economic value and spirit will be transferred to the chain and it will last forever. The maturity of blockchain technology will continue to promote the development of the Monet platform, and the digital economy of art will gradually grow to become the mainstream way of trading arts.
A new opportunity in the art world begins with Monet Finance.
