Although the blockchain concept has existed for more than a decade and gained popularity along with bitcoin, experts have repeatedly talked about its applicability in other areas besides financial technology. This can be the field of logistics, a closed internal corporate network, medicine, or even art. We should consider it in more detail.
The applicability of blockchain in art is simple - first of all, the tokenization of certain assets, which in this case can be paintings, or any other art objects, for example, sculptures. The process is extremely simple - an independent appraiser assigns a certain value to an item, on the basis of which digital tokens, or assets, are created. Several people can own assets at once.
Why digitize and further tokenize an art object?
The right of ownership can be distributed to several persons at once. For example, when each individual member of the group cannot afford to purchase a painting, but the required amount will be easily gained if it will be purchased along with companions. Moreover, everyone will own a part commensurate with his contribution, which will cancel all disputes about who is the true owner.
Transparency. Thanks to the blockchain, you can see from and to the whole process of the painting's journey, understand where it came from, probably know who was its previous owner and understand the cost for which it was previously purchased. This will help to get rid of unscrupulous intermediaries. The only requirement is that from the moment of its tokenization must pass a fairly large amount of time.
Growth in popularity. At the current moment, the art and collecting of various objects of famous and not so creators is rather a rare hobby for a certain circle of people. And the using of blockchain will bring a part of the audience of crypto enthusiasts, and with them - also the investments.
In case if a competent logic for digitizing paintings, sculptures and other objects of art, and their further tokenization will be built, we will observe another successful application of blockchain technology in the area, which is one of the most remote from complex digital technologies.
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