We all expected 2021 to be a better year than the last, and though we continue to adjust to new ways of working and spending time together, the Artory team is grateful to reflect on a year of progress and innovation.
Artory’s greatest achievements for 2021 were built on collaboration. Despite limitation, we were able to form valuable new partnerships and strengthen existing ones. With a recent capital raise and the launch of our joint venture with Winston Art Group, Artory is looking forward to 2022 with enthusiasm and determination. Join us here as we look at some of the highlights from 2021.
1. Artory closes fundraise with major VCs in the tokenization space to bring NFTs of physical artworks to market
In the fall, Artory closed a fundraise to initiate its next phase in bringing trust and confidence to the art market. Artory is creating the next generation of financial products by building investment instruments on top of the most trusted physical artworks.
Through trusted data from Artory’s network of independent partners, Artory is linking NFTs to vetted physical artworks to be offered as financial instruments through alternative investment platforms, crypto marketplaces, and private offerings.
Artory is incredibly thankful for the continued support of both early and new investors.
2. Artory and Winston Art Group announce joint venture to bring tokenization to the physical art market
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.
Winston’s high standard of diligence is a gateway to art-secured digital products, distribution, and transactions–enabling scalability and unlocking liquidity in traditionally illiquid high-value assets. Artory will capture Winston Art Group’s diligence and tokenize the data to prepare offerings for distributors.
3. Artory partners with Algorand and implements their eco-friendly, innovative blockchain
Artory chose Algorand as a blockchain partner to tokenize physical artworks because of Algorand’s unique ecosystem and capabilities. One of the most important aspects of Algorand for Artory is it’s eco-friendliness. The blockchain consumes substantially less energy than its peers and is one of the most environmentally-friendly blockchain solutions: a consideration that is no longer optional.
Artory inaugurated the implementation of Algorand’s blockchain with “Untitled,” (2004) by Kehinde Wiley. Registered by Winston Art Group, the artwork was the first to have its due diligence information stamped on the Algorand blockchain by Artory.
Artory was happy to participate in Decipher 2021, a two-day gathering in Miami that featured builders, businesses and innovators using Algorand. See the full panel “Modernizing Art & Ownership in the Digital Economy” with Pablo Rodriguez-Fraile of Aorist, Genevieve Patterson of VSCO, and Francesco Boni of ArtSquare here.
4. For its fifth edition, the annual Art Basel and UBS Global Art Market Report 2021 once again partnered with Artory to give the art world its first comprehensive look at the art market’s performance over the past year
The Art Market Report 2021 is the art world’s premier benchmark for the study and analysis of the general art market, art collecting, auction houses, galleries, fairs, and online sales. By using data from Artory’s neutral database with information sourced directly from auction houses, The Art Market Report offers objective, independent research and shares Artory’s goal of bringing greater access to credible information to the market.
5. Artory partners with The Crypto and Digital Art Fair (CADAF) Online 2021 for the third year in a row to register and secure the artworks shown at the fair
The first ever digital art fair, CADAF has been focused on supporting digital initiatives in the art market since 2018. Through our partnership, Artory was the first platform to register crypto and digital artworks and secure the artwork information with blockchain at CADAF’s 2019 fairs in Miami and New York.
With Artory’s Registration and digital Certificates all of the information from digital artworks and NFTs sold at CADAF Online 2021 were stored immutably with a signature from the fair.
6.Artory partners with Tagsmart Certification to offer the first integrated solution of certification, tagging, and blockchain security for fine art
Artory was proud to announce its partnership with Tagsmart, a platform offering a physical and digital art certification system to artists and galleries. Tagsmart offers an innovative, state-of-the-art tagging solution which links an artwork to its associated digital certificate and record.
By combining tagging solutions with blockchain technology, our companies can further protect the safety and durability of their clients’ artwork information. Tagsmart’s physical tagging solutions creates a verifiable link between the digital record and the actual work of art.
We wish you all the best in the New Year and Artory looks forward to sharing multiple new projects, collaborations, and capabilities in 2022.