Company updates

Maecenas CEO, Marcelo Garcia Casil in EthFinex - Ask Me Anything (AMA)

Share

Written by
Marc Garriga

Follow on Twitter

12 November 2018

View all blog posts

On Thursday, 8 November, Maecenas Founder and CEO Marcelo Garcia Casil was invited to a Telegram “Ask Me Anything” (AMA) session with the Ethfinex community. Community members posed a raft of interesting questions and the conversation lasted for nearly an hour.

We were impressed by the level of knowledge and engagement shown by those who posed questions, many of which offered the opportunity for Marcelo to explain in greater detail some of the features that distinguish Maecenas and our plans for the future.

 

Here are some of the highlights.

From banking to fine art: Our Story So Far

At the start of the session, the moderator asked about the inspiration behind Maecenas and the path that brought it to where it is now. In 2014,

“given my more than ten years’ experience in banking, I realised that blockchain could be applied to other types of assets,”

says Marcelo, who soon discovered that the fine art market was ripe for just this kind of technological innovation.

 

In response to a follow-up question on what the largest sum was that Maecenas had received for a piece of art on its website, Marcelo noted that 30+% of an Andy Warhol painting was successfully tokenized and sold for $1.7 million in the summer of 2018. This represents the first successful sale of a major tokenized artwork and confirms the strength of using blockchain in the fine art space.

 

Enjoy, invest and innovate: Art as a (Digital) Asset Class

Many people posed questions related to exactly where Maecenas sits within the broader art market and if there were limits to the types of art we tokenize. While Maecenas is focused on works of fine art - Warhol, Picasso, Monet for example - the company’s goal is fundamentally

to make art enjoyable and bring it closer to people through technology, “to be able to share it and show it off to their friends and family” in Marcelo’s words. To that point, he mentioned that Maecenas will soon make an exciting announcement related to the tokenization of digital art.

 

The nature of fractional ownership of art also arose, with questions around the ability of a majority owner to buy out minority stakeholders. Suffice it to say, the debate in the community may not be totally settled. Maecenas is committed to finding the optimal structure for tokenized art assets - which is why each artwork has its own unique smart contract to reflect the best interests of the owners.  

 

ART utility: Token economics

Marcelo also teased a major improvement to ART’s token economics. Without revealing things prematurely, he stated “that there are further utilities which will be added to the token- based on partnerships we've been working on for the several last few months, which will see ART play roles in other art-related platforms, not as a payment token but rather as a staking mechanism.”

 

Towards democratisation of fine art: Future Roadmap

Naturally, a number of questions focused on plans for the future, with participants eager in particular to learn about Maecenas’s planned tokenised artworks exchange. Marcelo replied that this is scheduled to be live by the end of Q1. When it is, and combined with our enhanced tokenomics, it will represent another major step toward the true democratisation of fine art.

 

Finally, Maecenas continues to expand its network of partnerships, a point that arose toward the end of the AMA. Specifically, three partnerships that recently closed will be announced in the upcoming weeks, all of them with companies whose tokens are in the top 50 by market cap. An additional partnership has been agreed with a well-known figure in the crypto space, although full details cannot yet be disclosed. In Marcelo’s words, these will be

“tight collaborations which we think are strategic for the growth of the ART token ecosystem.”

 

Thank You!

We thank everyone who participated in the AMA and invite you to continue to support and guide Maecenas by joining our Telegram. Please also stay tuned to this Medium channel for frequent updates and news.

 

Topics: Company updates

Marc Garriga

Written by Marc Garriga

Marc has over 10 years of experience in Fortune 500 institutions as well as at start-ups across Spain and Singapore. Marc is a T-shaped marketer with extensive experience across sales, growth, product and project management with a strong focus on digital and tech products. Marc has been involved in blockchain projects since 2014.

Please read the following disclaimer >

This blog post is illustrative and for informative and general education and discussion purposes only. It is not, and should not be regarded as “investment advice” or as a “recommendation” regarding a course of action, including without limitation as those terms are used in any applicable law or regulation. This information is provided with the understanding that with respect to the material provided herein (i) MAECENAS is not acting in a fiduciary or advisory capacity under any contract with you, or any applicable law or regulation, (ii) that you will make your own independent decision with respect to any course of action in connection herewith, as to whether such course of action is appropriate or proper based on your own judgment and your specific circumstances and objectives, (iii) that you are capable of understanding and assessing the merits of a course of action and evaluating investment risks independently.. MAECENAS does not purport to and does not, in any fashion, provide tax, accounting, actuarial, recordkeeping, legal, broker/dealer or any related services. You should consult your advisors with respect to these areas and any material with regards to investment decisions. You may not rely on the material contained herein. MAECENAS shall not have any liability for any damages of any kind whatsoever relating to this material. No part of this document may be reproduced in any manner, in whole or in part, without the written permission of MAECENAS except for your internal and/or personal use. This material is being provided to you at no cost and any fees paid by you to MAECENAS are solely general educational purposes. All of the foregoing statements apply regardless of (i) whether you now currently or may in the future become a user of MAECENAS’s platform or products and (ii) the terms contained in any applicable contract between you and MAECENAS.

Up Next

Art Investment

Strong Fundamentals Are Key to Growth in Crypto Projects

The past 18 months have been a time of extremes for blockchain businesses and crypto tokens. From the euphoria of late 2017 to the “crypto winter” of late 2018, the industry has ridden ups and downs that have left many outside observers wondering what to make of the space.

Keep Reading

Alternative Investment

,

Art Investment

Art Tokenisation Was a Hot Topic at Art Basel Miami

There are few events that command the attention and set the tone of the fine art world like Art Basel. Now, blockchain technology has begun to turn heads among the the event’s attendees, many of whom are counted among the leaders of the space.

Keep Reading

Art Investment

How art investment compares to other alternative investments

Looking to make an alternative investment?

Keep Reading