Atlanta – July 18, 2017 – Art can inspire and captivate whether it’s a new exhibit or a collection of ancient works. It has moved people for millennia, has influenced culture, society and given birth to some of the best human innovations. Though art has played a prominent role historically at the center of our human experience, over the last century, it has become increasingly inaccessible. Less than 1% of the population can afford to participate in a growing art market, pushed out by ballooning prices and records set at auction. At the same time, new artists find it harder to connect with audiences while also being able to provide for themselves and their families. Underlying it all is the utter lack of reliability when it comes to authenticating work. Artcoin.fund is launching in July, 2017 to try to solve these problems.
Artcoin is a blockchain token like bitcoin built on the Ethereum network with the purpose of democratizing culture. Artcoin will be selling ART, its digital tokens, to raise money in order to begin building a truly decentralized art collection. The company plans to allow token holders to vote to elect arts and economic councils to guide selection of works and to support the health of the token and collection. Token holders will also be given the opportunity to access digital versions of select art within the collection. Art itself can be directly acquired by token holders from investment grade fine art to emerging new artists, all using the ART token – on what will be the Artcoin marketplace. The ownership of each work, voting rights, as well as the ownership of the tokens themselves will be stored and accounted for in a decentralized manner on the blockchain, insuring the records are safe, secure and unstoppably permanent.
The sale will be public on https://www.artcoin.fund starting July 15th and will close by the first week of August or after a cap of $50M USD is raised. 70% of the proceeds will be used to finance the collection itself while the remainder will be used to build out the consortium’s technology platform. Subsequent sales are expected each quarter but the token will be offer at an increasingly expensive rate. Artcoin anticipates that ART tokens will be more expensive in future sales as the value of the collection increases.
Artcoin is unique in the sense that it can be used it to vote, to buy amazing artwork, fund the world’s first democratized private collection, and to access the collection physically and virtually. It is the first known application of blockchain to be used to build an art collection. Artcoin hopes more people will participate in the arts than ever before and hopes a thriving Artcoin can help drive dynamism, creativity and a broader appreciation and relationships with the arts.
The founders believe Artcoin will be the future of how you buy art.
For more information about Artcoin and to participate in the crowd sale, visit http://artcoin.fund