The practice of registering artworks through decentralized tokenization is finally maturing enough to make a real difference throughout the entire art industry. By leveraging NFTs (Non-Fungible Tokens) to represent both physical and digital works of art so that they are secured immutably on a blockchain ledger, not only are artist’s rights protected, but multiple ownership and other features can be enacted as well.
One of the big game-changers on the physical artwork front has been the development of camera technology to shoot with high enough resolution through mobile devices so that the works can be scanned easily by creators and given virtual fingerprints or ‘passports’. This allows the art, from its point of creation, to be tracked and updated throughout its lifecycle, which could be very long! One such company carrying out a blockchain based art supply-chain service through an app like this is 4ArtTechnologies.
You can read more about that here in this interview:
But now this technology can be taken to artists and craftspeople located vastly beyond studios in SoHo or Le Rive Gauche. By leveraging MeshBox and its Spectrum blockchain, this whole process can be extended to areas that have limited or no internet service. Since many of these areas may be inhabited by indigenous peoples, this opens up a huge opportunity for them to safely and securely produce handicrafts that can be authenticated immediately upon production, eliminating fakes and knockoffs, and put them on a marketplace that distills value for both ends of the supply chain.
Furthermore, MeshBox, extended by Photon technology even further, could potentially enable treasure hunters and archaeological projects to document finds, relics and artefacts before they’re even taken out of the dirt!
These two scenarios make for an enticing view of a decentralized future of art commerce, trading and verification that is just beginning to take shape. We look forward to a world with a robust tokenized economy of digital and physical goods, and it wouldn’t be complete without the quintessential human element of art on and off the chain.
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