Imagine a world where fine art paintings -- Picassos, Warhols, Monets -- each costing millions of dollars (and whose value only increases with each passing year) can be owned by the everyday investor, like you and me.
Masterpieces traded briskly through an open exchange, efficiently pricing the artworks to the market. Portfolio managers will be able to manage their positions more accurately and diversify their risk by investing in a range of different art assets. They will no longer need to have their funds concentrated in a handful of hard-to-sell pieces.
This is no longer just a dream. Maecenas has made it a reality.
For the first time, technology will allow investors, collectors and owners to exchange shares in paintings and sculptures instantly. It will also offer top emerging artists a showcase space for their work, free from the interference of middlemen.
Maecenas takes fine artworks and mints (ERC-20) asset tokens that represent a share of the artwork. Your asset tokens can then be bought and sold and are also be tradable on any global exchange where they are listed.
Asset tokens = a piece of a painting
Asset tokens, which represent a share of an artwork, are minted compliant with the Ethereum ERC-20 standard, so you can enjoy the safety of a public protocol and the convenience of storing your asset tokens on any popular crypto wallet.
Our first tokenised artwork offering, Warhol 14 Small Electric Chairs (Reversal Series), 1970 [WHRL1] is already listed on the ethereum chain.
After many months of hard work and technology integration, we are also very excited to announce a partnership agreement with a new exchange that is launching soon. Our partner exchange focuses on listing and trading asset tokens.
WHRL1 tokens will be included as part of its offerings when it launches. As part of our partnership agreement, both platforms will be integrated and users of Maecenas will be able to sign-up easily with their Maecenas account login info.
We expect to foster multiple partnerships with various exchanges in order to provide maximum liquidity for our investors. We have been given access to the alpha build of the exchange for testing and so far we are very impressed with the design and functionality. Here's a sneak peek of what one of our partner asset token exchanges looks like, released with their consent.
Topics: Maecenas updates