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Article23 Nov 2022

The Art of Tokenization: An Overlap of Blockchain & Art

Nanne Dekking, CEO/founder, Artory and Elizabeth von Habsburg, MD, Winston Art Group joined us to discuss the crossover of technology and art.

Trust is the most important factor in the art world. Blockchain technology enforces trust without compelling anyone to trust one single individual/institution. Tokenization of art helps enable storage of information on chain by cryptographically signing the artwork, embedding due diligence certificates on smart contracts which keeps the information accessible to all. There are certain emerging unique identification technologies that help map real world physical artwork on chain, however legal rights remain a work in progress. The blockchain art space is relatively new which requires a lot of investor education and we also need an enhanced digital asset regulation / legal framework around consumer protection, fraud prevention, etc.

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