10101.art transforms pieces from famous artists into RWA tokens
The agency goals to create a mannequin of collective possession utilizing blockchain know-how.
Actual-world asset (RWA) tokenization platform 10101.artwork made its official launch at Dubai’s Ritz-Carlton providing pre-sale entry to the attendants to Banksy and Warhol originals.
The thought behind the venture is to digitally divide well-known artwork items and promote them as tokens, creating collective possession utilizing blockchain.
“We consider it’s time for a extra welcoming method to artwork possession. 10101.artwork is utilizing know-how and collaboration to create a extra enriching expertise for everybody,” said Alina Krot, CEO of 10101.artwork. “This occasion marks a big step in that journey, and we’d love for all business leaders and artwork lovers to hitch us in shaping the way forward for artwork gathering.”
In line with their web site, 10101.artwork consultants decide worthwhile artwork items they contemplate price tokenizing and, after an authenticity examine, retailer them in Dubai.
The launch announcement additionally mentions works from artists similar to Pablo Picasso and Salvador Dalí, though they don’t seem to be accessible of their web site.
The RWA market reputation registered important development over the previous months, with the mixed market cap for tokens inside this sector surpassing $7.7 billion, knowledge aggregator CoinGecko exhibits.
Furthermore, conventional monetary establishments are exploring the advantages of RWA tokenization, similar to BlackRock. Because the inception of their tokenized fund BUIDL, on March 20, the full dimension jumped from $40 million to $304 million, a 660% leap.
