NEW YORK, Sept. 13, 2018 /PRNewswire/ -- New York-based technology company Blockchain Art Collective (BAC) today launched the first holistic blockchain-based system for cataloguing and securing fine art. The system consists of a blockchain network, protocols, and a decentralized app ("dApp") to support the growth of a fine art ecosystem. Blockchain Art Collective is an art world ecosystem that is powered by Chronicled, Inc., a San Francisco technology company that provides blockchain solutions for physical assets.
Blockchain Art Collective is the first one-to-one digital-physical link between an artwork and the blockchain. It affixes tamper-proof Near-Field Communication (NFC) chips to the physical art itself. These chips - which offer the same level of encryption and security as those used in credit cards and passports - in turn contain information about a work that is stored on a blockchain. In effect, the blockchain-linked NFC chips give each artwork an unforgeable, tamper-proof digital identity. The company also offers integrations with machine vision and AI.
Jacqueline O'Neill, Executive Director of BAC and a visual artist herself notes, "We are excited to tackle this unique space--while many in the market are addressing provenance for digital art, we have not seen the same kind of turnkey solutions for physical artworks until now. The physical-digital link secured on both ends is truly a game-changer for artists and institutions. Now a physical artwork can have a single, trusted identity that stays with it for life."
Anyone can interact with an artwork by scanning it with a mobile phone that has the Blockchain Art Collective's dApp installed to view publicly registered information. The dApp - one of the first operational decentralized apps - is launching their Beta App this month.
Several artists have already signed up to use the platform to catalogue and secure their physical artworks. Some include Cryptograffiti, Nanu Berks, David Puck, RFX.1, and Orvz1. In addition, Blockchain Art Collective will soon be announcing its collectible marketplace roadmap and strategic partnerships. The growing and dynamic ecosystem comprises governments, arts institutions, galleries, authenticators, and artists seeking to spur adoption of the platform and educate about the benefits of blockchain in the arts.
Artist Cryptograffiti notes, "As someone who has registered artwork on the blockchain for a couple of years now, I'm excited to see the space evolve. The BAC platform has the potential to combat one of the art world's biggest problems, fraud, by establishing a physical link between the work and its authentication."
Artist Nanu Berks adds, "Adaptability and simple systems like these are crucial when designing the tech-bridges to carry art into the future. The internal secure coding structures are very important, but they won't reach mass-adoption unless there are several easy to implement solutions to start registering physical works of art for even the non-technically inclined creatives."
Blockchain Art Collective will host an invite-only gathering of fine art ecosystems later in the fall prior to announcing the official Blockchain Art Working Group sponsors and members. If you would like to get involved, inquire at blockchainartcollective.com/ecosystem.
In the meantime, Blockchain Art Collective is pleased to see artists and art entities embracing the platform and welcoming in a new era for art.
Blockchain Art Collective provides unparalleled art provenance and asset management capabilities by giving a rich, unprecedented digital life to art. The company, headquartered in New York, is committed to helping build the New Art Economy with artists and art institutions.
SOURCE Blockchain Art Collective