30 Aug ArtChain Global Platform Now Live
After 18 months of development, ArtChain Global is pleased to have released our revolutionary art registration, tracking, authentication and provenance management platform.
ArtChain Global’s aim is to revolutionise the art industry by securing collectable art now and for the future using robust, immutable blockchain and artificial intelligence (AI) technologies.
The idea of ArtChain Global (ArtChain) was started in late 2017 with a group of art investors looking for a more secure way to track their art and protect the provenance record of their collections. While relatively new technology, blockchain (along with artificial intelligence), was identified as a suitable technology to address this need.
In 2018, Swinburne University, one of Australia’s leading technology universities, partnered with ArtChain to develop a custom-built blockchain for operations and an artificial intelligence (AI) system accessible via a smartphone.
Up until recently, many people have associated blockchain with cryptocurrency. (Crypto famously gained great momentum in 2017 followed by an equally fast crash in early 2019). However, blockchain is a technology all itself that many industries are using to record and store sequential coded data that cannot be easily changed, deleted or altered.
So what is ArtChain?
ArtChain is an art registration, tracking, authentication and provenance management platform that also allows artists, galleries and collectors alike to buy and sell art online. Blockchain technology is the backbone of ArtChain by ensuring all artworks managed on ArtChain has a permanent digital title and transaction record permanently stored in the sequential blockchain data. The AI capability provides users with an authentication tool to ensure that the physical artwork they are looking at is the exact piece registered and authenticated on ArtChain.
So who is ArtChain for?
ArtChain is for anyone involved in the art world such as collectors and investors in art, artists, galleries, art consultants, museums and art services business (ie insurance, finance or freight providers). Each artwork uploaded and approved on ArtChain is given a unique digital title (much like a land title) which is registered in the blockchain permanently. As this piece is bought or sold, the digital title is updated to reflect ownership and provenance.
For Art Collectors:
ArtChain allows collectors with private or public art collections to manage, track, authenticate, trade and add to their art collection in the global market. Collectors can purchase with confidence knowing that not only is the art and artists on ArtChain carefully curated by an independent art panel but that the provenance and digital title ownership are held permanently in the blockchain data. Additionally, collectors can use the AI tool to verify that the artwork they receive is the exact piece registered on ArtChain.
ArtChain is a secure platform for professional artists to promote, manage, track, authenticate and sell their artwork globally while protecting their art legacy and resale royalties. All artists are required to register to join ArtChain and be reviewed by our independent art industry panel. This process is to ensure artists and artworks on ArtChain are verified and carefully curated for collectors and investors.
ArtChain supports and works with galleries to provide the provenance, authentication and digital title tracking they need to protect their represented artists and their art buying customers. If a gallery sells artwork offline, as normal, ArtChain can provide the digital title transfer to the new owner for a small fee. This ensures the provenance of the piece is transferred both physically and digitally and recorded permanently in the blockchain. Additionally, ArtChain’s unique AI and QR Code features can provide walk-in customers with an enhanced experience by using their smartphones to view the piece on ArtChain knowing that it is authenticated by the artist and has a recorded digital title.
ArtChain — the art digital title registry and trading platform
ArtChain has recently launched with the following features:
- Collectors, artists and galleries can register new artwork to create a digital title.
- Artworks on the platform are only authenticated by the actual artist.
- Galleries and artists can start selling artwork.
- Buyers can purchase artist authenticated artwork.
- Users can use our AI feature on our mobile app to verify if the artwork is the actual piece registered on the platform.
- All registered users can manage artworks or collections — in private or public mode.
- Artwork digital titles can be transferred to new owners, therefore tracking provenance from the moment it is registered on ArtChain.
- Artist royalties from secondary sales can be tracked and paid.
Trusted online art purchasing
ArtChain Global is designed and built around trust and security. This is achieved by the following:
- All artists, collectors and galleries on ArtChain are required to meet our minimum criteria level and identification checks to create an account — ensuring all buyers and sellers are genuine.
- Artists and galleries listed on ArtChain are carefully curated and selected via our independent art industry panel to ensure art quality and variety of works.
- Original artist authenticated artwork is clearly visible on all listings. This authentication record is stored in the blockchain. An ‘artist authenticated’ piece on ArtChain will always have a permanent digital record that the artist has either uploaded the artwork themselves or authenticated it as their original artwork.
- Payments via ArtChain are held in escrow until the artwork is delivered to the buyer and the buyer authenticates the piece on receipt using the ArtChain AI verification tool. This ensures that the artwork received by the buyer is the piece digitally registered in the ArtChain blockchain.
- ArtChain uses global standard and trusted methods of payment such as Credit Card, PayPal, WeChatPay and Alipay. It is important to note, that we do not offer crypto or ‘tokens’ on the platform or as a form of payment.
- Call for Artists — it is time to get involved!
ArtChain is currently looking to onboarding a range of full-time artists (represented or unrepresented) who want to be the first to start securing and sell their artworks on ArtChain. During this time, accepted artists will also be invited to provide feedback and insights to help us to continue to refine and build out our offering to the art community.
If this sounds like you, please register your interest via www.artchainglobal.com/register
If you are a gallery or collector and what to know more about getting involved, enquire online and a member of our team will be in contact as soon as possible.