Artex, the First Blockchain-based Marketplace for Selling and Investing in Artwork

WHAT IS ARTEX?

Artex, a blockchain-based art piece exchange platform, is the first and only platform of its kind, serving as an acquisition platform to make the art market less elitist. The key objective is to allow individuals to participate in the state-of-the-art works all the time (24 hours a day), with any amount, as well as with ease of asset management, thus serving as an investment platform. This platform also offers insurance on pieces of art based on transparent pricing. On the Ethereum blockchain, Artex employs blockchain to help record the provenance of artworks. This record will include the transactions history, as well as available art critiques. The launch of its mobile application seeks to embrace not only the elite persons (art dealers or art experts) in the art field, but also embracing the upcoming artists. The platform’s key objective is to connect and unite dealers, photographers, collectors, galleries, art critics, and investors, all in a single platform.

WHAT ARE TRADITIONAL METHODS OF SELLING ARTWORKS?

Traditionally, selling of artwork including paintings and sculptures is ongoing without much benefit to the artists. This is because of the presence of intermediaries. As such, you will find art galleries that help individuals to showcase their artwork. There are different forms of art, and artists need to identify their target market. By identifying the target market, artists are able to acknowledge which is the best way to sell your art without compromising on its value. Traditionally, there are different methods that people are using to sell artworks.

HOW DOES ARTEX EMPOWER THE FUTURE OF FINE ARTS?

Artex features a working model that is in line with asset owners, galleries, artists, and auctioneers to outline their common interests. The platform model and functionality seeks to deliver on liquidity, transparency, security, as well as easier and faster access of fine art in the market. This platform is paving a way for a democratic means of art investment. Serving as an investment platform, Artex empowers the future of fine arts, not only through greater communication and marketing, but also through bettering financial standards. The use cases in which Artex will empower the future of fine arts are as follows:

IS ARTEX’S USE OF BLOCKCHAIN REVOLUTIONISING THE INDUSTRY?

Blockchain is revolutionising the functionality of many industries, and the arts industry is no different. While blockchain is evident in the financial sectors, the arts industry is currently tapping into the blockchain capabilities. Artex is revolutionising the arts industry through blockchain in the following ways:

ARTEX TOKEN EXPLAINED

Artex Token, the digital currency of the Artex ecosystem, will be used for shopping transactions, as well as for other privileged functions on the platform, as specified on its protocol/code. It is important to note that the Artex token serves as a functionality token only on the platform’s ecosystem. This means that this token is functional as an interoperable utility, and therefore, it is not a medium of exchange by the public as a source of payment out in the public market.

WHY THE ARTEX TOKEN?

The Artex platform introduced the Artex Token to provide a secure and convenient mode of payment between users on the platform operating within the ecosystem. Functioning on blockchain and smart contracts, users will benefit from improved process efficiency. Smart contracts eliminate the need for intermediaries and therefore, reduce the chances of manipulation from third parties. Other than efficiency and convenience from smart contracts, users will save on costs as a result of eliminating intermediary commissions or pay. Overall, the inclusion of smart contracts promotes autonomy, offers a secure yet private backup for information, automation of tasks, while at the same time, upholding on accuracy.

WHERE TO USE THE ARTEX TOKEN

Understanding the use of the Aertex token requires you to identify the different scenarios you can use it in. First and foremost, the Artex token is a functional utility token that will serve as a medium of exchange for the platform users in a decentralised manner. In this, this token remains relevant within the Artex ecosystem.

CIRCUMSTANCES IN WHICH ARTEX TOKEN CANNOT BE USED

Tokens in general offer a medium of exchange, but it is important to check on its limitations so you understand where you can trade it and what you can buy using the token. Outside of the Artex ecosystem, this token is not applicable for use. You cannot use it to buy or pay out for goods and services from other platforms. In addition, the Artex token cannot be discharged as a form of settlement.

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Artex

Artex

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Artex is, world's first and only blockchain based art investment platform that you can easily trade and manage your fine art investments anytime