10101.art, 2024, NFT

Courtesy: 10101.art

10101.art is a leading-edge art ecosystem that allows individuals to become co-owners of renowned masterpieces by Dalí, Warhol, Picasso, Banksy and others.

10101.art’s collection of original physical paintings is available at Monada Art Gallery located in the Ritz Carlton Hotel DIFC, Dubai. The permanent exhibition is open without appointment to both co-owners of the pieces and all gallery visitors.The company leverages blockchain technology to democratize art ownership. For their curated art collection, the project utilizes tokenization, a WEB3innovation.

This process involves:

– Scanning and storing a secure digital copy of the artwork.

– Creating a smart contract specifying ownership details like the number of tokens and their price.

– Linking purchased tokens directly to the artwork through unique identifiers.

By owning a token, users become legal Real World Asset holders of the physical artwork, verified by a digital certificate.

10101.art makes entering the exclusive art world more accessible and transparent via RWA tokenization. Moreover, in 2025 the project will introduce royalty payments for artists, which will also encourage the creative community of the industry to work closer with modern technologies and their supporters. The ecosystem removes traditional barriers by simplifying the process of becoming an art collector, paving a way to a more transparent future of art ownership.