This month in London at the Dadiani Fine Art exhibition will be held a historic blockchain auction with the main lot – Andy Warhol’s picture “14 small electric chairs.” The significance of the event is not even the fact that a famous picture will be sold for cryptocurrency, but the fact, that all the data will be recorded in the blockchain, while the buyer may remain anonymous.
How does this benefits industry? According to the research, up to 40% of all works of art in the market have copies that pretend to be originals. With the help of blockchain, everyone has the possibility to check the authenticity of showpiece and how much the item cost. Unregulated prices and fakes will be no more.
Art sphere is of large financial and insurance risk and requires transparency, convenience and functionality more than any other. Art investments are usually not the same as real estate or stocks investment. It’s a market for the professionals. Blockchain is able to expand tge industry for the new buyers, still keeping the highest quality standards.
Store decentralized info on the owner(s) or any legal copyrights in ENDO blockchain-protocol and you will surely appreciate the advantages.
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