Copyright protection with the government does not help artists is costly for artists to register a copyright for each work that they create especially if they create hundreds of works.
This has left artists without the proper ability to protect their art and trace their sale and resale which impacts valuation and appraisals.
Open source blockchain technology can decentralize trust permitting artists and galleries to record such sales on the blockchain. Artcryption plans to use blockchain technology and utilize a “dApp” (decentralized application) built on Ethereum utilizing smart contracts to assist artists.
ARTCRYPTION is a platform for the current art economy giving artists a voice and power utilizing blockchain. It helps artists, galleries and auction houses ensure more secure faster sale and transactions while managing, licensing and protecting the intellectual property in the art and recording provenance and chain of custody.
If you’re a collector, auction house or artist – join the ARTCRYPTION movement to empower artists to create more beauty and art in the world. ARTCRYPTION intends to also incorporate jewellery/luxury goods, furniture and other limited edition and collectible items (and eventually the platform can be used for other IP such as for writers, musicians and film and television content).
Blockchain technology permits artists a way to track the provenance of their art and other collectibles by having all transactions and purchases placed on a blockchain. Transactions of value such as art sales are irreversible and created a record of that transaction forever so that it is traceable, auditable and verifiable. This record of art transactions on the blockchain can help with valuation, appraisals etc.