ArtRise has formed a platform in which physical art creators can reap the benefits of asset tokenization. This integration into the NFT space will expand an artist’s audience and get them in front of more collectors while growing their communities.
Asset Tokenization and how it applies to physical assets
Tokenization is the foundation for NFTs and the NFT space. As part of the blockchain industry, one receives a certain type or number of tokens for the rights of ownership to a given item. This ownership can be of a digital copy write, such as a digital work of art or intellectual property of a song, or it can represent a physical item.
Asset tokenization is a process by which a physical or digital asset is represented as a digital token on a blockchain. This allows the asset to be easily bought, sold, and transferred in a transparent, secure, and verifiable way.
Tokenization for physical assets could almost be compared to owning stock in a large company. The physical asset has a value of a certain number of tokens, just as a large company has a value of a certain amount of stock. When purchasing, one can either own just a piece of this asset at a set number of tokens or they could purchase the entire asset. If it is a physical asset that they own and want to tokenize, others will provide them with tokens in exchange for partial or full ownership of that asset.
Sectors that benefit from asset tokenization
Today asset tokenization operates in a variety of sectors, including:
1. Real estate: Tokenization can be used to represent ownership of a physical property, such as a building or land, on a blockchain, allowing fractional ownership.
2. Art and collectibles: Tokenization can be used to authenticate and track the ownership of rare and valuable items.
3. Agricultural commodities: Tokenization can be used to represent ownership of crops or livestock.
4. Supply chain: Tokenization can be used to track the movement of goods through a supply chain.
5. Financial instruments: Tokenization can be used to represent ownership of financial assets, such as stocks, bonds, and other securities.
6. Intellectual property: Tokenization can be used to represent ownership of intellectual property, such as patents, trademarks, and copyrights.
Overall, asset tokenization has the potential to revolutionize how assets are bought, sold, and transferred, making it easier and more efficient to manage these assets and reducing the risk of fraud and other issues.
Advantages to the Art Industry
Asset tokenization has the potential to benefit a wide range of artworks. It can bring several benefits to the art industry, including:
1. Increased liquidity: Tokenization allows for the creation of digital tokens representing ownership of an art piece. These tokens can be easily bought, sold, and traded, increasing the liquidity of the artwork.
2. Improved provenance: Tokenization allows for the creation of a digital record of ownership that is transparent and verifiable. This can help to establish the provenance of artwork and provide evidence of its authenticity.
3. Greater accessibility: Tokenization allows for the creation of fractional ownership of an artwork, making it possible for multiple investors to own a share of the piece.
4. Enhanced security: Tokenization allows for the creation of a digital record of ownership that is stored on a blockchain.
5. Efficient Royalties distribution: The tokenization of royalties allows for the creation of digital tokens that represent a specific royalty payment.
The ArtRise Marketplace
ArtRise is a new marketplace that provides the most innovative platform aimed exclusively at the asset tokenization of physical works of art. This marketplace is opening opportunities for artists with access to pieces of the industry that they’ve never had before.
ArtRise is the world’s first platform dedicated to the tokenization of hybrid works of art. This marketplace allows artists to put up their masterpieces to the ArtRise community, gaining insight and access to an entirely new group of collectors.
Art enthusiasts, collectors, and financial gurus alike now can work exclusively with physical art in the asset tokenization market. Pieces that they may never have gotten the chance to see or add to their collection are now accessible to them as they support artists.
It is also a great opportunity for art enthusiasts and curators to look at a completely new gallery of art in one place.
Artists are encouraged to fill out the application form to schedule a meeting with the ArtRise team. If approved, their art will be validated and put into the ArtRise marketplace so they can take advantage of all the benefits of asset tokenization.
Media ContactCompany Name: ArtRise Labs LLCEmail: Send EmailCountry: United StatesWebsite: https://artrise.io/