Verisart And Paddle8 Announce The Launch Of The P8Pass To Bring Blockchain Certification And Authentication Services To Auctions
P8PASS PROVIDES BUYERS, CONSIGNORS AND PARTNERS WITH INCREASED EFFICIENCY AND TRANSPARENCY FOR THE EXCHANGE OF ARTS AND COLLECTIBLES
THE NATIVE SA MAKES A STRATEGIC MINORITY INVESTMENT IN VERISART JOINING RHODIUM AND SINAI VENTURES AS SHAREHOLDERS
LOS ANGELES and NEW YORK, May 3, 2018 /PRNewswire/ -- Verisart, the world's leading provider of blockchain certification to the fine art market, today announced the launch of the P8Pass developed in partnership with Paddle8, to bring blockchain certification and authentication services to the auction market.
The P8Pass will be offered to buyers, consignors and partners in all curated and benefit auctions run on Paddle8.com. Each P8Pass contains detailed provenance information and functions as a unique fingerprint on the Bitcoin blockchain.
By combining museum grade classification standards, blockchain certification and image verification, the P8Pass provides customers with a secure, permanent record accessible and verifiable at any time.
"P8Pass, developed in partnership with Verisart, has the potential to significantly reduce transaction costs for the trade with art & collectibles and broaden the market by including new buyers encouraged by authentication process simplicity and transaction safety offered by the P8Pass blockchain product, the risks traditionally being the primary reason for affluent consumers to stay away from the art trade," said Paddle8 co-founder and President Alexander Gilkes.
"The partnership with Paddle8 and the strategic support from The Native SA further extends our platform reach as the provider of choice for blockchain certification standards for leading artists and galleries and now auction partners worldwide," said Robert Norton, founder and CEO of Verisart.
"We're delighted to announce our investment and partnership with Verisart to launch this innovative new application of blockchain technology, which has the potential to disrupt the status quo by offering an unprecedented level of transparency into the art market," states Izabela Depczyk, founder and Executive Board Member of The Native SA.
For further information on the P8Pass, please visit
https://paddle8.com/p8pass
FOR MEDIA ENQUIRIES
Page Schuler
+1 310 886 9628
[email protected]
About Verisart
Verisart is the world's leading platform to certify and verify artworks and collectibles using blockchain technology. Verisart provides a decentralized title registry combining security, transparency and anonymity to increase trust and liquidity in the art market. The company binds museum grade certification standards, distributed ledger technology and image recognition under one platform and is used by prominent artists, galleries, museums and auction houses.
www.verisart.com
About Paddle8
Founded in 2011, Paddle8 brings the tradition-bound auction world into the 21st century. Offering a seamless online process, Paddle8 makes collecting and selling art online an easy, efficient, and enjoyable experience. Paddle8 features specialist-curated auctions, nonprofit auctions, private and buy-now sales in the categories of Post-War and Contemporary Art, Prints and Multiples, Photographs, Street Art, and Collectibles. Paddle8 is especially proud to partner with more than 350 nonprofit organizations worldwide to present their benefit auctions to a global community of 500,000 collectors, helping each organization expand its fundraising results.
www.paddle8.com
About The Native SA
The Native SA is the Swiss-listed international technology and media company that enables our corporate clients around the world with the best-in-class e-commerce, data analytics and blockchain technologies, payment services, customer support, and content & digital marketing. We are the digital natives helping your business grow online and beyond.
www.thenative.ch
SOURCE Verisart; Paddle8
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