4ARtechnologies, the Blockchain platform for works of art

The problem

With a sales volume of $ 63.7 billion in 2017, and with an annual growth estimated at around 12%, the art market is an increasingly attractive field of opportunity for investors seeking to diversify their investments . For those who do not know, however, the market is usually not transparent ; in fact, investing in a work of art requires both a considerable experience and a right personal network of reliable but at the same time expensive intermediaries (brokers or auction houses).
In the absence of a centralized database of works of art, investors often encounter problems when they try to verify the history and provenance of a work of art.
Museums, galleries or public collections must constantly perform expensive and time-consuming work to verify and trace objects, often incomplete due to lack of funds. While the rise of the internet has brought different steps forward in many contexts, the art market has been significantly exempt. In fact, only 8% of sales of works of art are conducted via the Web and most of them in the price segment of less than $ 500. It is clear, therefore, that a greater push is needed to add potential to the art market via the Web.
A further problem is added: despite the upward trend in the art market,
it is estimated that 30-50% of the works are counterfeited or can not be declared as verified original due to incomplete information on the origin.
In light of this, owners and buyers often turn to experts to assess the veracity of an art object. But this involves spending thousands of dollars on the expert and can make the result prone to human error and even misunderstanding. In fact, if after a expert assessment, a work of art is detected and / or declared false, the impact goes far beyond the fact of making that particular piece worthless. In fact, he questions the entire work of that artist, hitting subsequent losses of value to all those who hold the works of that artist: private collectors, galleries, the artist himself. 
The authentication of works of art is, therefore, another area in which the right technological solution can generate considerable growth by increasing the efficiency of the process and eliminating the opportunity for human error. The areas for which there is no effective digital solution are the following:
  • Authentication of the work . Because the authentication of the work is done manually, it is subject to human error, costly and time-consuming.
  • Documentation . The recordings of the history and provenance of the work of art are fundamental for the evaluation but, often, they are incomplete, easily modifiable and not securely archived.
  • Condition report . Reports on the conditions of a work are cumbersome and expensive. Owners often renounce this, even if they are fundamental for evaluation and for insurance purposes.
  • Restoration . There is no standard registration (and secure storage) of restoration activities together with other vital statistics of an artistic work, ie chronology, origin.
  • Logistics and transport . Currently there is no tracking solution on the transportation of works of art.
  • Intellectual property rights . Due to the lack of transparency in the transactions of works of art, the artists are not able to obtain royalties from the resale of their works.
  • Collection management . The absence of an effective digital solution means that managing large collections requires a lot of time and effort.

The solution

The 4ARTechnologies solution ( https://www.4art-technologies.com ) combines the superior security of the blockchain with the "enhanced authentication" technology to address the most pressing problems in the industry and create value for all the players of works of art .While other cataloging and transaction platforms only allow authentication of digital certificates (history and provenance),
4ARTechnologies allows the authentication of the physical image itself, thanks to the blockchain.
With 4ARTechnologies utto what you need to scan and authenticate an image is a standard smartphone. With the introduction of a unified standard, 4ART offers greater efficiency, security and transparency for all transactions related to works of art:
  • All users of the platform are verified according to the standards compliant KYC standards.
  • Owners of works of art (private or institutional) will benefit from greater investment security and a cost-effective solution for managing their portfolios
  • Condition reports will be easily generated on a smartphone.
  • Logistic and transport service providers will benefit from the track & trace functionality.
  • Under-insurance is no longer a problem as works of art can be easily and quickly recorded individually.
  • The restorers of works of art will be able to record the details of their work and / or access the details of previous restorations or conservation activities.
  • Artists can obtain royalties thanks to the registration of the blockchain-passport sales of the work of art.
4ARTechnologies will provide the following essential services to its users: 
  • Fingerprint service. Authentication of a work of art using state-of-the-art "advanced authentication" technology that scans, recognizes and validates a "fingerprint".
  • Certification issue. Using increased authentication technology, users will be able to validate and document each transaction for a work of art.
  • Data storage service. Data is stored in the cloud to give users quick and intuitive access to data sets and associated services. Fingerprints and transaction history are stored securely on the blockchain.
  • 4ART platform "as a service". Help users maintain ownership, loan, restoration, transportation and insurance coverage related to a work of art. Registered users as creators (ie artists) can get royalties from the resale of their works.
  • Transaction verification service. Every transaction related to a work is stored on the blockchain (in compressed form) ethereum.
  • Wallet 4ART. A free 4ART wallet will be provided to store 4ART tokens .
  • Art catalog. Users (eg Museums or galleries) can create their own artistic portfolio and select the information available to researchers or other interested parties through subscription models. Each service is offered at a certain price highlighted in the Business Model section. Each service is payable in 4ART coins. These 4ART utility tokens can be purchased with any FIAT currency accepted by 4ART and subsequently redeemed for the service as needed.

Details on the sale of tokens

The project has already launched the sale of 4ART tokens that can be used within the platform. The ICO will be accompanied by consultants from the Reichlin Hess firm, lawyers and tax advisors based in Zug (Switzerland). The latter will take care of judgments with the authorities, such as the Swiss Financial Market Supervisory Authority ( FINMA ) and the tax authorities.
The token allocation is as follows:  

The price of each 4ART token is fixed at 0.08 euros for the group closed sale, 0.10 euros during the phase 1 of the Pre-ICO, 0.20 euros in the Phase 2 PreICO and, finally, at 0, 30 euros during public sale. For closed group investors, a blocking period has been defined under which the 4ART tokens will have to be held for 6 months after the ICO.
In conclusion I can say that the project is very interesting. If the team will keep all the promises it will surely be the first project in the world that will allow you to keep track of all the works of art through the Blockchain. I invite you to deepen your knowledge on the 4ART platform on the project Whitepaper, available at the following link: https://www.4art-technologies.com/wp-content/uploads/2018/08/EN-Whitepaper-4art.pdf
To purchase 4ART tokens simply go to the project website https://www.4art-technologies.com/and click on "Buy 4ART tokens". Currently the project is a public sale phase so the cost of each single token is 0.30 euros. There are still 28 days left until the end of the sale on today's date and the project has reached 24,000,000 euros!  
Stay up to date on the latest news of the project. Below, the social contacts of the project.
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Author by: Naomikatarina

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