The fundamental challenges of fine art industry

Unless you have 1 million dollars to invest, investing in the high-end artwork is not a feasible option for retail investors. Worse, trying to buy high-end artworks at an auction house can be an even more laborious task . The price of the artwork may be well higher than most people would comfortably invest. That’s why many people miss out on an investment in fine art opportunity: their pockets are not deep enough, or they do not have a proper tool to purchase a small amount of artwork.

CoArt’s solution to this problem is mostly to fractionate a single artwork. Not physically. CoArt users get the ability to co-invest and own rights to the artwork. The rights determine what percentage of the total worth of the piece each user is entitled to. These rights are tokenized into COAT tokens and can be sold for another user.

To make it simple, this can be compared to owning a share of a company. Every shareholder owns a specific number of shares, has rights to control the company according to the sum of his investment and gets his dividends.

By using CoArt, one will be able to invest from 50 USD, equivalent in ethers or bitcoin and converted into COAT tokens. We believe, it is an astonishingly low number to enter an exclusive industry.

Provenance is the historical data of ownership, custody, and location of a particular piece of art. This data is essential to ensure authenticity and avoid forgeries. Especially, while buying art online.

By using distributed ledger technologies, CoArt platform provides a transparent investment process and enforces trust on both sides of the deal made. All data related to artwork provenance is stored on a distributed ledger technologies that prevent forgery, exploitation, fraud.

So, even if it might seem difficult or even impossible to start investing in famous artworks, CoArt team is working hard to develop a platform that would ease this process for everyone.

How is it going? See for yourself! https://coart.io