10101.art, an art tokenization company, will launch a new blockchain platform that will allow users to own legendary physical art masterpieces created by popular artists such as Picasso, Dali, Banksy, Warhol and many others.
Users can purchase ‘any piece’ as a fragment using tokenized digital asset technology. Each NFT will be assigned to these fragments, allowing ownership to be divided among many individuals. Individuals holding a piece of this digital puzzle and a certificate confirming their ownership rights to the actual physical object introduce a “new dimension” to ownership, with co-ownership taking over.
By using blockchain technology, 10101.art guarantees that ownership of a physical work of art is legally protected by the owner of the blockchain certificate. Furthermore, blockchain technology ensures that all information about the artworks is transparent, creating a reliable and secure ecosystem for the art community.
A representative of 10101.art explained the core idea of 10101.art to Coin Edition:
10101.art is emerging as a revolutionary force, providing an easy gateway to iconic works of art from masters like Banksy and Warhol, for those who once believed such pieces were unattainable.
The 10101.art team also said: “The core proposition of 10101.art lies in enabling the transfer of ownership with just two clicks. This ensures that owning a physical work of art is both seamless and secure, thanks to blockchain technology that guarantees the transparency and provenance of each piece.”
Moreover, 10101.art also provides a platform for the NFT owners, where they have the “opportunity to sell at a low commission.” Furthermore, 10101.art allows these NFT owners to easily trade on international art and NFT markets.
In addition to the launch of the ecosystem, all paintings will be presented in the Monada Art gallery. In related news, Monada Art has announced the official opening of its first location in DIFC, Dubai.
When asked why Dubai was chosen as the first location, Alina Krot, head of project at 10101.art, said: “Dubai is already continuously pulling its weight as an international center of the art world.”
“We also see it as a draw for a large number of people with different business objectives. When the question arose where it would be appropriate to open a gallery, we unanimously agreed that this should definitely be Dubai,” continued Alina Krot.
Although Dubai is their first location, Monada Art has begun preparations to expand its collection and has decided to take the first steps to promote their international presence.
Disclaimer: The information in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses arising from the use of said content, products or services. Readers are advised to exercise caution before taking any action regarding the company.
