In 2018, something peculiar happened in the art industry. This time it wasn’t another controversial nude painting or a lost artwork recovered from the Nazi archives. In fact, it had nothing to do with the paint, brush or canvas. That year, a little known startup called Maecenas introduced a revolutionary concept to the industry involving blockchains and cryptocurrencies.
What is Art Tokenization?
How does one use the blockchain to sell their artwork? The answer is quite simple — Tokenization. By converting the monolithic painting into thousands of digital tokens, the company managed to fragment the ownership of the artwork using blockchain. This is similar to purchasing equity in a conventional business. Follow the link to know more - https://medium.com/security-token-offering/art-tokenization-what-is-it-how-does-it-work-fb2e31bfb822