[ARTBLOC FAQs] on Purchasing Art Ownership Tokens
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Q. If multiple buyers are splitting the shares of an artwork, who gets to physically keep it?
A. The actual artwork is displayed within specialized galleries. ARTBLOC is responsible for all of the work’s administrative tasks, and 5% of its total payout is paid to ARTBLOC.
Q. What rights do I obtain by purchasing tokens?
A. There is no physical possession or transfer/disposal rights of the work. Once the displayed artwork at a gallery is sold, you will be paid in proportion of the work’s token holdings (*excluding fees). You can transfer and trade tokens personally with others.
Q. How can I transfer and trade tokens?
A. You can do so on “ARTBLOC MarketPlace Limited” operated by ARTBLOC offering its own OTC (over the counter) trading service to support the purchasing and sales of tokens. There will be a lockup period of 180 days from the original date of purchase, and token transferring will be available after that.
Q. Can I cancel after purchasing?
A. After purchasing through PayPal, a contract will be sent to you by email. The contract is fully completed when signed. If you disagree with the contract’s contents of agreement, you may cancel the payment by requesting a cancellation. This is not possible after the contract has been signed and completed.
Q. Will the price of tokens increase as the value of an artwork increases?
A. The price of tokens may rise when the value of an artwork increases due to internal or external factors (example: rise in price of expert works/similar works are on auction), or when there is an increase in demand for ownership from buyers due to an artwork’s expected rise in value, or depending on market principles.
