Art has maintained its uniqueness for tens of thousands of years in terms of the values it represents, from primitive cave paintings, Masaccio’s perspective abbreviation and Duchamp’s urinal to today’s nonfungible token madness. Although the technique and approach of art have changed, its place and importance in human history are still the same. A constant feature of art is that it is expensive. In this sense, for thousands of years, art has been shaped and valued under the influence of a lucky few. With blockchain technology, democratization in art investment is now possible.
Preserving and exhibiting works of art are very laborious and costly processes. For investors who want to invest securely in works of art, the options are pretty limited: auctions and art galleries. On the other hand, these institutions rightfully receive relatively high commissions in return for the services they provide. Auction houses usually get a commission of at least 12% to 25% per sale while galleries can charge a commission of 6% to 10%. In the face of all this traditional and cumbersome structure, the art community needs a genuinely transparent and liquid market.
The working model of Artex, which has been meticulously designed in line with the opinions of investors, artists, auctions and galleries and within the framework of common interests, promises to provide the liquidity, security, transparency and easy access that the industry needs by paving the way for democracy in art investments.
Artex is a new-generation art investment platform where everyone can invest in first-class works of art whenever they want, in any amount they want, and efficiently manage their investments. Top-notch artworks are insured in line with the transparent pricing of art experts from various countries and are tokenized on the blockchain against their insurance value. Thanks to the tokens whose supply is fixed with the smart contract technology used, everyone can make purchases and sales transactions in the quantities they want, both during the presale process and from the works listed on the market.
For example, we would first insure a piece of art with a market value of $1 million in return for its value and convert it into cryptocurrencies so that the total supply remains constant. We then list this cryptocurrency, which corresponds to the value of the artwork, on the Artex platform with its value equal to its crypto market value (in this example, 1 million total supply at $1 each). Additionally, we allow you to invest as much as your budget allows in an artwork you admire. Not everyone can own the “Mona Lisa,” but for many of us, owning a $100 “Mona Lisa” token is a unique experience.
The digital currency of the Artex ecosystem is Artex Token. Once our platform becomes fully functional, only Artex Token will be used for all financial transactions, such as trading listed artifacts. Artex Token has a limited total supply of 100 million and is currently listed on global exchanges such as BitMart and ProBit. Artex also has an NFT farming collaboration with NFTrade, where you can farm your Artex tokens and earn five unique Artex NFTs named Mnls, Star, Adam, VNS and Scrm. At the same time, Artex has launched its first platform demo and can be viewed here.
At Artex, we believe in a world where everyone, not just the lucky and privileged few, can invest in first-class works of art and blockchain technology is the safest way to achieve this. Our vision is to provide products and services with great transparency, enabling investing in artworks to become the new trend in the crypto world. The future of finance is a democratic distribution. The power is in everyone’s hands.