Blog: Why an ICO is the Best Decision for Fine Art?
An ICO stands for Initial Coin Offering, it is relatively a new term which has been coined to make use of the emerging Blockchain technology. The ICO provides a platform for buyers and sellers of art to take advantage of the transparency provided by the technology.
It might be difficult for emerging artists to find funding for their unique artwork or for investors to find a platform to sell original artwork which has been bought by them which is why Blockchain aims to provide the link for reliable transactions.
An ICO is one of the best decisions which you could take for your artwork. Here are some of the benefits of ICO.
Provides a Huge Funding Platform
You might be starting out or having trouble with finding the right amount of funding from prospective investors. Blockchain provides the ultimate funding platform to find as much funding as one would want. No amount is too small or too big for the technology. Everyone will be able to get involved in the process of buying and selling of artwork such as artists, investors, insurance companies and financing companies.
Blockchain introduces smart contracts which are the future of contracts and these contracts have the capability to take everything into account and are reliable for art investors and dealers. The smart contract is easy to make and everyone’s rights will be taken into account. The smart contract will determine the number of profits which shall be distributed to the art investors and artists after final sales.
Your artwork will be safe from any illegal sales and counterfeiting. Each investor will receive art tokens for the amount of investment made. ICO Art provides art cryptocurrencies or other cryptocurrencies.
Protection and Verification
The Artchain AI provides protection and art verification for your artwork meaning that from the time the artwork is created to the time of sale or transfer, everything is recorded and protected. The artwork will be easily authenticated which put an end to illegal sales and the fine art industry will continue to flourish.
The technology provides unique protection which protects the entire artwork and all the little details which one might overlook by accident. You will have the right to use the artwork and only those people whom you authorize or give permission to use the artwork will actually be able to use it.
ICO for your Artwork
With so many advantages due to Blockchain technology, ICO is the tool for your artwork or business to grow. It provides a great platform for artists or art investors who are just starting out in the market and are looking for protection for their investment and want reduced risk and uncertainty when it comes to the ever-evolving art industry.
The ICO is genuine and reliable, your investment will be safe from any possibilities of corruption and since the ledger is available on the cloud, a single owner will not lose or accidentally destroy the data and all the information will be safe.