Tokeny has announced a partnership with Artsgain, thus enabling a new entry into the fine arts sector that leverages blockchain technology.
Artsgain is based in Barcelona and is a manager of funds and collective investment companies that co-invest in groupings of works of art, antiques, and collectibles. The platform is registered as a collective investment management entity and regulated by the National Securities Market Commission (CNMV).
Artsgain states that by integrating the ERC3643 permissioned token standard through the Tokeny platform, it can ensure regulatory compliance within the EU securities regulation framework under MiFID and improve liquidity for assets.
Artsgain states that it is on a mission to transform the art market by offering tokenized shares while providing a secondary market for these digital art securities. Artsgain seeks both short-term and long-term gains as well as the potential for income from exhibitions. Artsgain touts comparative returns for certain art categories as competitive to or beating more traditional financial offering metrics.
Tokeny is the leading platform in the European Union, enabling digital securities.
Tokeny CEO Luc Falempin said their tokenization solution will provide the tools that Artsgain needs to blend finance with access to the art world.
“Our intent is clear: we aim to be inclusive and environmentally conscious while providing unparalleled investment opportunities. The world of art has for too long been an enclave for a select few. By leveraging technology and our deep expertise in art, we are democratizing access, ensuring more people can appreciate, invest in, and benefit from these incredible assets,” stated Xavier Olivella CEO of Artsgain.
Artsgain is not the only entrant in the arts and collectible sector that is providing access to a wider audience of investors but it is the first that is incorporating blockchain technology in Europe to streamline the investment and management process of these offerings.
