Company updates

Picasso to be Tokenized on the Maecenas Platform

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Written by
Marcelo García Casil

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13 November 2018

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Blockchain-based art investment platform Maecenas has teamed up with crypto exchange Ethershift.co and computer security expert John McAfee to conduct the first “perpetual” digitalization and tokenization of a Picasso work of fine art.
 
The project is codenamed “Project Phoenix”.

We are tokenizing a masterpiece, and making the painting perpetually inaccessible. Any eventual release date of the physical painting can only be decided via a voting process by token holders, after the minimum amount of time has passed well into the future.

The auctioning process will be executed using Maecenas technology. The newly created digital asset, the first of its kind, will be represented as a single ERC721 token for the digitalized artwork. A fixed number of ERC20 tokens will separately represent shared ownership in the physical asset.

Unlike previous asset tokenizations performed by Maecenas, Project Phoenix will be a fully decentralized exercise, and the resulting unique tokens will be created on the public Ethereum blockchain.

The auction will take place around the year-end Holiday season.

Specific details and information will be announced in December. Find updates and information about Project Phoenix on the Maecenas website at https://www.maecenas.co.

If you’re interested in participating in the auction, or have any other questions or inquiries email contact@maecenas.co.

 

About EtherShift
 
Ethershift.co is an ERC20 crypto currency exchange that provides the near instant conversion of 70+ crypto assets. Ethershift has no accounts and lets customers trade without collecting any personal information.
 
 
 
About John McAfee
 
John McAfee is a computer researcher and businessman who founded McAfee Associates in 1987 (bought by Intel in 2011). John is running for President of the United States in 2020 with a pro crypto currency platform.
 
 
About Maecenas
 
Maecenas is a decentralised art gallery auction market, aimed to democratise access to fine art. It is a blockchain-driven platform where fractionalized pieces of fine art are bought and sold. Maecenas uses blockchain technology to create tamper-proof digital certificates linked to pieces of art.
 
After launching its beta platform in June, Maecenas has successfully tokenised a $5.6m painting by Andy Warhol, which was acquired by a number of different investors who participated in the first-ever decentralised Dutch auction for an art run on the Ethereum network.
 

 

Topics: Company updates

Marcelo García Casil

Written by Marcelo García Casil

Founder and CEO of Maecenas. Having previously worked at a number of large global banks, Marcelo has wide-ranging experience in designing and building large-scale enterprise-grade systems with a focus on investment banking and financial solutions. An an entrepreneur, Marcelo has specialised in blockchain and financial technology, primarily in areas covering tokenisation of assets and new capital markets. His strong technical architecture and leadership skills have earned him the recognition and endorsement from amongst his clients, teammates and peers. Marcelo frequently speaks and presents at industry events, conducts specialised workshops and training sessions, and provides expert advice to companies.

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.

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