This is a brilliant way to stop art forgery through blockchain!
I've been doing several posts recently about the collaboration of Art and Technology (from the account @katyakov) but this is my favorite!
There is an increased demand for digital art in today's art world. More and more contemporary artists jump on this track, doing works in very different formats, being it video content, projections or even games.
And they are selling really well!
One of my favorites - Super Mario Clouds by Cory Arcangel. It's an old Mario Brothers cartridge which the artist modified to erase everything but the clouds:
Last year, one of its editions sold for $630,000.
So the biggest question for galleries is how to verify the authenticity of these digital works. As you can see from the picture above, I just copied the link and here you go - it's no different from the original artwork.
Well, not different for the viewer. But different for those, who want to purchase it.
And here's when blockchain can enter to change the whole market. As we can track every movement with any digital asset created through blockchain, the same way the creation, ownership, sales and transfers of digital art can be recorded.
The main condition, of course, is that the artwork us uploaded to a blockchain database from the moment of its creation.
“Digital art has a problem: Bits are infinitely reproducible, and people want exclusivity and verifiability,” says Kevin McCoy, the founder of Monegraph. "Blockchain solves that problem by providing a clear and distinct provenance.”
Monegraph is a blockchain startup quite famous in the art world.
It allows you to create and customize a license contract that establishes the usage parameters for your media. These licenses are binding legal agreements between the owner of the work (initially the creator) and a buyer of the work. They are legally enforceable in a court of law and are a prerequisite for many major commercial entities to do business with the artist.
"True to our core values, Monegraph supports creators everywhere with the tools to directly license their media for commercial or editorial users. Everyone can do it."
I feel like there's no industry where blockchain cannot make breakthrough!