Artory has launched a joint-venture with Winston Art Group, the leading independent art appraisal and advisory firm, to offer tokenized physical artworks and physical artwork funds through leading alternative trading channels and crypto marketplaces.
In Artory’s initial phase, digital certificates were generated by our partner Winston Art Group: the largest and most respected art and luxury appraisal firm in the world. These digital certificates act as a vehicle for eliminating transaction risk in art-secured transactions and is the foundation for tokenization. With the due diligence attached by Winston, the certificate ensures that the underlying physical asset is what it claims to be, and addresses the risk for any transactions—loans, selling, buying, and more. It is a gateway to art-secured digital products, distribution, and transactions, enabling scalability and unlocking liquidity in traditionally illiquid high-value assets.
Artory and Winston Art Group are now launching their joint venture to offer tokenized physical artworks and physical artwork funds through leading alternative trading channels and crypto marketplaces. Winston Art Group will perform due diligence on the artworks and record all data on Artory. Artory will capture and tokenize the data to prepare the offering for distributors.
When the token changes hands, the token ownership, provenance, value, and other associated data are updated and auditable in real time. It’s not only the initial issuance, but the distribution and every subsequent transaction that requires this digital certificate to be current and overseen by Winston Art Group and Artory. The offering will also allow Artory to offer sophisticated data analytics to financial institutions collateralizing art.
We are excited to offer the benefits of tokenization to the physical art market. In creating a connection between investors and trusted art world institutions, Artory takes a vital step in democratizing the art market: giving individuals access to information, returns on investment, and a level of trust that is typically reserved for the upper echelon of the market.
By removing traditional barriers to entry, Artory’s certified NFTs enable the art market to reach a wider community of investors. Through the tokenization of physical artworks, Artory can offer fractional shares of an asset allowing investors to hold percentages of a variety of artworks across a wide range of categories.
Ultimately, tokenization addresses the traditional barriers to entry of the art market by:
- Giving More Access to Artworks: Artory tokenizes a range of trusted artworks from emerging artists to Old Masters, allowing investors to own their favorite artworks at a lower cost
- Improving Liquidity: Artory tokens can be traded on secondary markets and artwork owners can sell shares of their artwork while maintaining custody
- Enabling Higher Transactability: Artwork shareholders no longer need to enter a gallery or auction house to sell the artwork they own
- Giving More Trust & Transparency: Ongoing due diligence by trusted art institutions is transparently built into Artory’s certified NFTs so investors don’t have to worry about the authenticity, provenance, or condition of the artworks they own
- Giving Access to Information and Expertise: Artory’s data products allow investors to be confident in their investment decisions
- Setting Clear Regulatory Standards: Shareholder rights, legal responsibilities, and ownership requirements are embedded in Artory’s certified NFTs