Bittime - Works of art are now not only revealed physically, but also in digital form with various models and potentials.
One of the recent digital art markets is Artrade, a token market with an RWA ( Real World Asset ) basis for the art sector.
Let's understand more about Artrade, a token market based on RWA for the art sector.
What is Artrade?
Artrade is an integrated platform for Real-World Asset (RWA) based token trading in the arts sector.
The Artrade platform presents an innovative approach to the valuation, authentication and trading of works of art.
Artrade combines the advantages of blockchain and NFT technology to address various challenges existing in the art market, including issues of authenticity, liquidity and transparency.
Artrade is also known as the world's first marketplace for RWA, as it goes beyond the tokenization process typical of conventional NFTs .
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Artrade, Combination of Traditional Artwork with Web3
Amidst the crowded landscape of NFTs (non-fungible tokens), one platform stands out by providing a bridge between the physical world of art and the digital world of crypto: Artrade. The platform allows artists to turn their physical works into “Real World Assets” on the Solana blockchain .
The innovations offered by Artrade open up opportunities for artists to increase the visibility and liquidity of their work in the burgeoning online art market, with a market value estimated at more than $11 billion.
Artrade's approach is as follows: each physical piece is associated with its digital version in the form of an NFT that cannot be counterfeited and is registered on the blockchain.
These two aspects work together to maintain the artistic integrity of the work, while providing the benefits of Web3 technology: full transparency, decentralized security, and royalty payments on the secondary market.
In other words, Artrade adopts a technical standard that allows real-world objects to be tokenized without changing their nature or historical value.
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Dimensions of Retained Art
Art retains its tangible dimension, but also gains the advantages of being present in digital form: increased visibility, access to new commercial outlets, and even programmable liquidity in decentralized markets.
With blockchain support that ensures authenticity, Artrade fills a gap in an art market that is often ambiguous and prone to fraud.
Artrade also brings a new level of trust to art transactions, ensuring that each creator has full ownership and control over their tokenized work.
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Trust Guarantee with the Use of the REAL Protocol
Artrade creates a fairer approach for artists. Unlike traditional markets that charge commissions of up to 50%, Artrade only takes a 5% fee for each sale.
This highly competitive commission ratio allows content creators to earn better rewards for their work.
However, Artrade's main innovation lies in the REAL (Reliable Electronic Artwork Ledger) protocol. This protocol guarantees transaction security through the use of smart contracts implemented on the Solana blockchain.
With the REAL protocol, exchange manipulation becomes impossible: the transaction space between buyers and sellers is completely safe and protected from fraud.
The REAL protocol also solves the problem of certifying physical objects on the blockchain. Each work of art is uniquely linked to an NFT via an NFC chip, a technology that enables short-range data exchange.
This chip forms a digital version that cannot be faked to certify the authenticity of the physical work.
With this technical solution and community-based approach, Artrade is paving the way for a more accessible, liquid and transparent art market where blockchain technology increases the value of creativity in physical form.
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Business Model that Utilizes ATR Token
The Artrade project is fully integrated with the blockchain ecosystem and the spirit of Web3. Initial funding of 6 million euros via ICO (Initial Coin Offering) has facilitated the launch of their in-house cryptocurrency, ATR.
ATR token holders can enjoy a number of exclusive benefits, including discounts on the platform and a staking program that provides annual returns of up to 25%.
Additionally, 51% of the token offering is owned by Artrade DAO, which is responsible for the acquisition of new artwork for redistribution to token holders.
The ATR token also supports a sustainable economic model and empowers the community, which can participate in managing the platform through the DAO.
DAO actively promotes new generations of artists and increases public awareness of the benefits of NFTs in art.
By combining human creativity and Web3 technology , Artrade presents an innovative vision for the art market, where integration with blockchain promises greater accessibility, liquidity and transparency in art exchange.
Also Read: 4 RWA Tokens with the Largest Market Cap, Here's the List!
Artrade Redefining the Future of Art
More than just a trading platform, Artrade is described as a social network specifically for art fans.
The Artrade platform encourages interaction between artists, collectors and art fans through private messaging and public profile features.
Users can discover new artistic talent, communicate directly with content creators, or search for recognized art professionals.
Artrade also opens up opportunities for unprecedented collaboration, where curators and gallery owners can partner with artists to promote and distribute tokenized works of art.
Also Read: Urgent! Immediately evaluate crypto taxes in Indonesia which are too high
Although still in its early stages, Artrade has already made a significant impact in the world of contemporary art.
Famous figures such as sculptor Léo Caillard and photographer Lionel Deluy were attracted to its innovative concept and joined the platform.
Even urban artist John Hamon, known for his unique work, is intrigued by the concept of tokenizing physical works. This increase in adoption shows Artrade's huge potential.
Artrade is redefining the future of art by combining real-world and digital elements with the sophisticated, envisioning an era where works of art can easily cross the boundaries between traditional and blockchain technology.
By leveraging the REAL protocol and NFC chip technology, Artrade ensures every physical work becomes a digital asset seamlessly and securely, marking the beginning of a revolution in the convergence of art and Web3 technology.
Thanks to Artrade, art meets innovation, opening new perspectives for creators and collectors in a transparent global market.
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To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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