AllianceBlock and ARTBANX to Employ Blockchain Platform for Making Artwork Bankable January 21, 2023 January 21, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJanuary 21, 2023 by Kelly Cromley

AllianceBlock and ARTBANX to Employ Blockchain Platform for Making Artwork Bankable

AllianceBlock is a decentralized and trustless framework that connects TradFi and DeFi through bridges. The relationship with ARTBANX, a library management solution for collectors, art experts, and financial firms, is a market first that bridges the divide between TradFi and DeFi.

The partnership will allow customers to access liquidity for asset types that were earlier unbankable or unavailable without the requirement for centralized institutions. AllianceBlock enables established institutions to provide their lower-risk asset categories to the blockchain sector while benefiting from the privacy, decentralization, and security advantages intrinsic to DeFi.

ARTBANX’s art collection administration, market information, and finance architecture make art a bankable investment product, which will be extended with a blockchain-powered marketplace. AllianceBlock, in conjunction with Nexera Protocol’s architecture and NexeraID’s identity software solutions, will enable the tokenization of real artworks and promote the creation of an art bazaar. This opens up further opportunities for art collectors by giving them entry to the liquidity of their tangible art via a platform for real-world asset-backed funding using tangible artworks as security.

As per a forecast by Art Basel and UBS, the worldwide art market rose by 29% annually in 2022, reaching a total of US$ 65,1 billion in sales, with a significant increase in demand in digital art supported by NFTs reaching US$ 11.1 billion.

The innovative platform provided by ARTBANX and AllianceBlock enables art collectors to get entry to the liquidity of their holdings while retaining digitally recorded possession of the underpinning. This also enables a wider audience to engage in the expanding art market, since there are now more options to supply liquidity and profit from the tokenization of actual physical goods.

The MetaNFT standard supported by AllianceBlock’s Nexera Protocol will enable ARTBANX’s Web2-based technology stack to move and integrate into Web3 without interruption.
Mads Boie Thomsen, CEO & Co-Founder of ARTBANX, said: ” We are ecstatic to introduce our unique cooperation with AllianceBlock, which will revolutionise the art market by using state of the art technology. Using AI, we have effortlessly linked the transaction data of millions of artworks, offering collectors, investors, and art aficionados with unrivalled intelligence for making educated decisions about fractional art-backed funding. This relationship exemplifies how DeFi can be employed to offer alternative funding choices and brings us a step forward to transforming art a bankable investment vehicle.”

Matthijs de Vries, Founder and CTO at AllianceBlock, commented: “We are thrilled to collaborate with ARTBANX and make an additional step toward achieving our aim of connecting TradFi and DeFi. The art business is a profitable and susceptible to disruption sector. Using Nexera, we’re allowing a novel funding model that respects DeFi ideals such as self-custody, openness,
decentralization, peer-to-peer, safety, and privacy while offering a more predictable return in a less volatile market. This relationship is an excellent illustration of how firms may use our decentralised architecture to build innovative financial products and facilities. Collaborating with one of the world’s best collections management solutions, ARTBANX, is a major leap ahead for the sector.”


AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.