ARTPRO-The Art of Blockchain

ololatide (11)in #cyptocurrency • 6 years ago

ArtPro is creating the go-to marketplace for private dealers and contemporary artists, with a strong focus on emerging talent. The ArtPro platform will open the art world to the masses, making it possible for anyone to discover and purchase fine art online without the excessive fees, intermediaries, and steep learning curve that have traditionally made art available to only to the privileged and the well-connected. Certificates of provenance, stored on the blockchain, attest to the authenticity of each artwork on the ArtPro platform, but that is only the beginning.

ArtPro forms a complete ecosystem in which traditional and contemporary art harnesses cryptocurrency, smart contracts and augmented reality to create an open platform that supports everyone from emerging artists to first-time investors. Through partnerships with galleries that are working with rising artists, ArtPro’s MVP will launch populated with contemporary works that can be admired and acquired instantly.

The Solution & Platform

ArtPro makes it easy for anyone to buy and sell art over the web. A user-friendly platform harnesses the many benefits of blockchain technology, enabling ArtPro to restore the trust that has long been missing from the art industry. Instead of relying on third party authenticators, ArtPro favours a consensus mechanism that delivers a secure, decentralized system.

How It Works

Connects participants and stakeholders
Allows art to be browsed and filtered by type, price, artist and style
Acts as an information-rich portal for art lovers
Provides strategies for appraising and acquiring art
Enables transactions using the native APT token
The Platform

The ArtPro Marketplace will use a rating system in tandem with blockchain-held reports to deliver a high level of transparency. It will create a benchmark for sellers to aim for and buyers to seek that will be transformative to online sales.

The ArtPro platform will be comprised of the following components:

Marketplace

The ArtPro marketplace operates as an online gallery where individuals can browse art and learn more about its composition and creator. Each work of art is priced in the viewer’s native fiat currency and in APT, and can be purchased instantly or added to a watchlist.

Buyers can purchase art via the ArtPro Market whilst retaining their privacy. The purchase details they choose to share with the seller will not be shared with ArtPro or other third parties.

Sellers who utilize the ArtPro platform can access a range of tools to help them record, promote, and sell their art. Galleries and artists that ArtPro has partnered with will be granted priority onboarding and guided through the process.

How it works

Artists and sellers create their profile

New entries are uploaded onto the blockchain or existing works can be retrieved from the blockchain and listed on the marketplace

Prospective buyers can filter and search as they would a conventional online shop

The market will feature a rating system for all listed pieces addressing the following questions:

– Does it have complete provenance?

– Does it only have partial journey history/records?

– Is there proof of existence on the blockchain for the artist?

– What is the condition of the work? The buyer can then make an informed decision with complete faith in the ratings system as a purchasing standard, giving them the confidence to buy online.

AR App

The use of AR, to provide a realistic representation of art in a 3D space, will help to drive more sales and will eliminate some of the problems associated with buying art online. It will also give the app real-world utility, making it much more than just a tool for passively browsing works of art

ArtPro dApp

ArtPro Reports will be the first dApp to be built on the ArtPro platform. It will contain a complete directory of each artwork inventoried by ArtPro, complete with its accompanying provenance report. Users can browse the selection of artworks, which will be categorized by artist, genre, date, price, and other metrics.

Users interested in a particular piece of art will have the option of purchasing a provenance report using APT tokens before viewing and storing it in-app. Reports act in a similar way to that of a vehicle HPI check, providing insights into an artwork’s history and attesting to its authenticity. App users can save searches and artworks to their favorites and enable push notifications for artists, artworks, and collections they’re following.

The ArtPro Fund

One of the ways in which ArtPro will make fine art more accessible to collectors is via an investment fund. This will enable individuals to learn more about art as an investment vehicle, and to acquire a portfolio comprised of selected artworks curated by the ArtPro team. Initially, the fund will launch with three portfolios to choose from, each of which will be weighted on a particular style of art and accompanied by a risk profile based on the artists and works featured.

Types of Fund

Managed Fund: This will be a body of works selected by ArtPro’s in-house team of art experts. The portfolio will contain works from both emerging and established artists, all of which will be recorded on the ArtPro blockchain. Information will include historical sale prices and dates for complete transparency.

Self-Administered Platform: The self-administered platform will give experienced investors the option to purchase fractional ownership of listed works for their own portfolio.

Token Utility

The ArtPro token (APT) is an ERC20 token that will operate on the Ethereum network, chosen due to its strong ecosystem of developers and supported products including compatible wallets and exchanges. The APT token will perform a range of functions within the ArtPro platform and various dApps that are built upon its open source protocol.

Token name
APT
Token type + designation
ERC20, utility

Number of tokens minted
500,000,000
Unsold tokens
Burned
Public sale price
$0.15
Pre-sale price
$0.1
Accepted currencies
ETH
Soft/Hard cap
$5m/$20m
Team lockup
Six-month cliff, two-year vesting
Advisor lockup
Six-month cliff, six-month vesting