Artory recently announced its acquisition of the leading art database, Auction Club. Auction Club has been used for two years as one of the main data providers in the Art Basel + UBS report written by Clare McAndrews from Art Economics. According to The Art Newspaper, Margaret Carrigan sees the value of the acquisition of Auction Club by Artory, especially in how it will make 4,000 international auction house sale records public.
Artory is all about data integrity, and Auction Club has followed strict guidelines when collecting their data since the firm’s inception in 2014, making the integration a logical benefit for the leading blockchain art registry.
The article concludes with a question of whether the aggregation of data under the Artory umbrella proves problematic to the decentralized aspect of blockchains that has been touted as fundamental to their appeal as art market “disruptor.”
“Not at all,” says Paul Stabe, Artory’s chief product officer. “Like all technology, we have to build something that solves a problem for our users. The decentralisation of blockchain is a security benefit, not a solution. And for the art world, being able to leverage blockchain to provide access to credible data that are free is a huge benefit.”
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