Friday, June 14, 2019

Blockchain Startup Starts an Art-World Revolution

Coinspeaker
Blockchain Startup Starts an Art-World Revolution

The global art market has been growing at a rapid pace in recent years, bedazzling both professionals and casual onlookers with a slew of record-breaking auction results. Yet it remains one of the most old-fashioned spheres of commerce, relying on centuries-old business practices and historically averse to any kind of technological innovation.

TILCOIN, an ambitious new Lichtenstein-based project, aims to make the $67 billion global industry more transparent and accessible by offering an innovative new marketplace platform where everyone can buy a piece of art with huge investment potential.

Art and antiques are a lucrative form of alternative investments, but prospective collectors have to face a sky-high price barrier to entry, significant transaction costs and sometimes very low liquidity levels. TILCOIN aims to change all that by introducing a revolutionary new way to make an investment – artsharing.

TILCOIN team will open a gallery to exhibit its own art objects. The TILCOIN’s art collection can be tokenized, offering prospective investors a chance to buy shares in artworks. Thus, artsharing completely eliminates any minimum capital requirements – what once was an expensive hobby of billionaires is now available to everyone.

Holders of the project’s TLC token will be able to enjoy the full range of the company’s services including purchasing and selling art objects on the marketplace, exploring the content of the informational platform, purchasing museum and gallery tickets, artwork insurance and storage, and participation in auctions of the major auction houses.

All relevant information about each artwork, including certificates of authenticity, provenance and exhibition history, will be securely stored on the company’s blockchain network and available to all token holders. While forgery remains every art collector’s worst nightmare, the company’s approach allows to completely mitigate these kinds of risks.

The company’s TILWIKI marketplace will function as both a trading platform and an interactive database including detailed information about various artworks, galleries and museums. Clients will also have access to a wealth of educational materials, including webinars and masterclasses from the art world’s most accomplished professionals.

Unlike most tech startups, TILCOIN’s business model does not completely eschew some of the more traditional aspects of the industry it plans to disrupt.

Anaida Schneider, project founder, said:

“TILCOIN is a project at the confluence of the traditional and digital art industry, thus we will be introducing a brick-and-mortar gallery experience alongside our blockchain-powered marketplace. We will be opening our own gallery spaces as well as collaborating with some of the leading art institutions across the globe.”

The company’s marketplace is currently in the late stages of development, with a release date scheduled for the second half of 2019. TILCOIN plans to introduce its tokens through a listing on one of the leading global crypto exchanges.

About TILCOIN

TILCOIN is a unique international project at the confluence of traditional and digital art industry, unleashing the potential of blockchain technology. We are creating a global educational and investment platform of art and antiques that provides a decentralized algorithm of provenance, simple and affordable way to invest into authentic art objects, and the largest database of galleries, museums, and their collections.

TILCOIN is tailored for co-owners of art and those who are interested in investing in art objects, talented artists and sculptors striving to reach their audience, museums and galleries, and art lovers. TILCOIN’s mission is to make the market of art more accessible, liquid, and efficient. We aim to introduce the art into the masses and provide incentives to foster greater talents in painting, sculpture, and graphics.

Blockchain Startup Starts an Art-World Revolution



Blockchain Startup Starts an Art-World Revolution

Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries.


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