What Is an Art Tokenization? Work and Their Benefits

by Vanessa Jane Block chain consultant

In 2018, something peculiar happened in the art industry. This time it wasn’t another controversial nude painting or a lost artwork recovered from the Nazi archives. In fact, it had nothing to do with the paint, brush or canvas. That year, a little known startup called Maecenas introduced a revolutionary concept to the industry involving blockchains and cryptocurrencies.

What is Art Tokenization?

But, how does one use the blockchain to sell their artwork? The answer is quite simple — Tokenization. By converting the monolithic painting into thousands of digital tokens, the company managed to fragment the ownership of the artwork using blockchain. This is similar to purchasing equity in a conventional business. Follow the link to know more - https://medium.com/security-token-offering/art-tokenization-what-is-it-how-does-it-work-fb2e31bfb822