Tag: Art

Blockchain Use Case – Art and other assets

After the blockchain hype has subsided, the question arises as to which use cases for blockchain are conceivable for our society. Below we present a possible use case.

Art and other possessions (assets) are often objects that you consider investment or just for hobby. But if you want to pay off these assets, you rarely find a liquid marketplace. Also, possession of such goods is usually 100% with one person. This makes it difficult for a collective of private art lovers to share ownership of a painting (or the rights to it). There are other assets that do the same. Historic cars and general collectibles suffer from the same problem.

 

Democratization of art

With the help of the blockchain, these assets can be tokenized. This means that you issue shares (tokens) for a piece of art, for example. On the one hand, these share certificates confirm the authenticity of the work of art and, on the other hand, they are a right to own a share of the work of art. This also makes it possible for small investors and private individuals to own art and to benefit from resale or the general commercialization of the painting. These tokens are on the blockchain and are stored there against forgery.

 

Art and new liquidity

 

Book Recommendation

In her book Token Economy, Shermin Voshmgir describes in great detail what the blockchain actually is, how tokens will be designed in the future and what use cases exist for these tokens. It highlights both the development of tokens on the blockchain to date and the future economy that can arise around these tokens.