Maecenas Decentralizing Art.
“A new online marketplace promises to give art
lovers the chance to buy shares in famous paintings.”
- The Telegraph
This one got my attention by a friendly suggestion recently, I had to check it out. It seems that there is going to be a day in my life time that I could get to have the possibility to own a small piece of fine art. Isn't that great? Fine arts with a yearly market cap of almost $65Bn is a lucrative market with some of the wealthiest families of this planet involved into it. If there is a need for that kind of service in the sharing ecosystem then Maecenas does that job. It is an ambitious project but it can change the way Auctions are taking place in the future. If this thing Moon then the Fine Arts will Blossom with it.
What a great time to be alive. It seems there will be nothing out of the grid and or our reach.
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The initial coin offering strarts at 7th of September.
This is not an investment advice. If you are investing, do so responsible.
Click on the below icon to read the whitepaper.
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(Cited from the white paper, how the blockchain will operate and what the token utility will look like)
An art owner decides to sell an artwork on the Maecenas platform, and chooses in which currency to receive the
proceeds. This could be ART tokens, cryptocurrencies or fiat currencies.Investors participate in the auction by submitting ART tokens to the auction smart contract. For those investors
wanting to participate with fiat currencies or other cryptocurrencies, deposits are kept in a per-investor fullysegregated
virtual bank account having a unique IBAN or in a secure multi-sig cold-storage.The Maecenas platform, upon reception of monies, allocates an equivalent amount of ART tokens to the
investor and pledges the tokens on the smart contract on behalf of the investor. Maecenas acts as market maker
to guarantee liquidity.When the Dutch auction process finishes, the smart contract proceeds to analyse all bids to determine the final
share price and the amount of shares each successful investor ends up purchasing.The smart contract settles the transaction by issuing artwork crypto-shares to investors. The artwork seller
receives either the ART tokens or the equivalent amount in currency depending on what they chose before the
auction started. Maecenas acts as market maker to guarantee liquidity, and hedges the FX risk upfront as bids
are submitted.
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Sounds like an interesting project. I'll give it a try. Thanks for the tip!
Beep beep. Hi @trumpman!
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Lol...
This is exactly what I needed.
This is exactly what I needed.
did u bought any art ? :D
I think I will buy some :) Its something I would hold. I already hold some of my own. Why not a slice from others?
:)
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Thank post sharing! Website business steemit
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