Artfi is transforming the Fine Arts market by making it more accessible through fractionalized ownership. It operates on a model of tokenizing high-value artworks into 10,000 NFT fractions, allowing for easier trading and ownership of art pieces.
What is Artfi
Here's how it works:
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Tokenization Process: Artfi acquires significant artworks and divides their title deeds into 10,000 NFTs or "fractions," turning them into tradable digital assets.
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Fractional Ownership: These fractions represent partial ownership in prestigious artworks, making high-value art investment accessible to smaller investors.
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Artfi Foundation: A non-profit entity with a physical museum dedicated to the preservation and exhibition of these artworks, ensuring they are maintained for community benefit.
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Redefining Royalties: Artfi is changing how royalties are handled, ensuring fair compensation for artists and original owners in the art investment scene.
In summary, Artfi is democratizing art investment by allowing fractional ownership of blue-chip artworks. Through its use of NFT technology, it bridges traditional and contemporary realms, offering both physical and virtual spaces for art appreciation and ensuring fair compensation practices in the art market.
Team of Artfi
Asif Kamal
Founder
Asif Kamal is an Indian businessman and Art Connoisseur based in Dubai. He has more than 12 years of experience in Fine Arts and is the Founder and CEO of Alturaash Art, an international fine art company that is involved in Fine Art Auction, Advisory and Investment. Asif is an early adaptor and believer in Blockchain Technology. He founded Artfi in the year 2022 with the vision to democratise the $60 Billion global fine art market.
Artfi review
Pros
NFT fractionalization
- by introducing NFT fractionalization, Artfi lowers the entry point for art traders
Ownership
- by adding ownership through NFT’s it allows more users to interact, own and trade art
Royalties
- Artfi extends to redefining royalty arrangements for artists and owners, ensuring they are rewarded fairly
Metaverse
- a virtual museum in the Metaverse will extend the accessibility of art to the audience at all times
Cons
Art selection
- Artfi may have a hard time with onboarding owners of valuable art who would like to fractionalize them as NFTs