A new art tokenisation platform is important news for the art rating industry.
The rating of an artist is the indication that helps evaluate the value of an artwork, the rating of an artwork helps to understand the investment characteristics of art. 360X AG reports the successful completion of first Proof-of-Concept transactions with tokenised art.
There are many people who have experienced the frustration of following a famous artist throughout their early years only to find that the vast majority of their work is financially out of reach. Participation through fractionalisation alleviates this problem, allowing individuals to invest in their favourite artists. Art ratings and tokenisation are the two key ingredients which would enable more people to collect art and make long-term investments, which leads to more artists being able to make a living from their art.
360X Art AG runs a tokenisation platform for art of 360X AG. It announces that it has entered into a strategic partnership with a group of industry leaders in the European art market, Rüdiger K. Weng, Weng Fine Art AG and Johann König. Under the terms of this partnership Weng, WFA and König have invested in 360X Art AG in return for a stake of more than 20%.
Based in Frankfurt, 360X Art AG is a platform that builds and operates a dedicated, trusted digital ecosystem and infrastructure for the digitisation, tokenisation and fractionalisation of both high-quality physical as well as digital artworks. The company is directly connected to the recently announced trading platform of 360X, where digital tokens of art assets and other high-quality investment objects are made accessible, investable and tradable for investors.
The new technology is strongly needed to bring new liquidity, transparency, trust and democratised access to the art market and fine art investments. It could add a new dimension to trading art and will support professional financing structures to initiate future growth of the art market.