FRESCO & ART Trust Value
FRESCO is a blockchain-based art trust value distribution network.
It brings together art administrators, gallerists, researchers and every single investor of art, directly with a decentralized artwork database. FRESCO builds up an intelligent evaluation system that enables investors to demonstrate their artworks and measure collection strength.
FRESCO uses tokenization to democratize, standardize and open up globally the currently existing art market. Through the smart, open-to-all artwork database architecture, it makes the art market more transparent and simple for everyone to understand, and establishes a remarkably easy-to-access art ecosystem.
With a possibility to be integrated with existing records of art sale, art exhibition and collection history, FRESCO will lead a revolutionized art world by adding a unique layer of Trust Value to artwork. It collects, synthesizes and interpret art data accumulated from historical and everyday art practice happening all over the world.
As an independent and powerful trust value evaluation system, it creates a multi-functional platform that shares information from the primary and secondary art market and benefits all market players(museums, galleries, educational institutions) as well as every individual user.
When an institution or an individual investor (user) joins FRESCO platform, a certain amount of distributable tokenized FRES Cash they own will add a new layer to their artworks. The future art collection strength will be demonstrated by FRES Trust score accumulated through all kinds of art activities, especially through FRES tokens allocated to the works. FRESCO’s Art Trust Value is tokenized based on the FRESCO Protocol.
When a FRESCO Token holder needs to measure and build up the initial Trust Value of his or her artwork, he or she may transfer the tokens in the form of an internal symbolic currency called FRES Cash on the platform.
As an art investor, a FRESCO user can allocate a certain amount of FRES Cash to the work, and the number of FRESCO tokens allocated to artwork will be the FRES Trust. As such, FRES tokens serve as a smart contract indicating: 1) a unit of Art Trust Value; 2) a straightforward, powerful trust distribution tool; 3) a tag of art value index. This smart contract represents a mutual evaluation dynamic between different investors and practitioners in the art world.
With time, the FRES Trust reflects the total amount of trust given to artwork by its current and previous owners. The distribution of the FRES Trust is irrevocable and adds a unique index of trust value to the artwork. In the future, it will be the only decentralized and reliable indicator of an artwork’s potential value.
FRESCO network is consisted of three major elements:
Art Trust Value
— it brings a brand-new concept of evaluating artwork by creating a blockchain technological layer for the transformation to happen.
FRES Trust
— the amount of trust allocated to each artwork on the platform, and it will accumulate irrevocably with each transaction record.
FRES Database
— it will form a powerful tool and a solid reference to today’s artworld for everyone.
Trust Value is a powerful value measurement system created by FRESCO. It is a brand-new concept introduced to the field of international art scene and blockchain-based economy. FRESCO Trust Value is supported by a decentralized network that reflects the unique perspectives of collectors, galleries, art academics, critics, and industry alike.
It also reflects more dynamically art collectors’ expectations on the artistic value and future market value of their collection. In a sense, through FRESCO, the concept of art trust value will be broadly recognized by art professionals and the general public.
The act of art collection is a process of accumulated cultural and historical heritage. A treasured art piece has been passing by from different generations of collectors for centuries.
Not only it embodies the individual artist’s ingenious creativity, it also represents the comprehensive values of aesthetics and craftsmanship, collective cultural memories, the social and religious background in which the work is situated, etc. Stories of masterpieces and their renowned collectors often add a layer of unique charm to the works.
Due to the various difficulties to directly measure the value of art collections, as well as the problem of price opacity and the overly-concentrated power of top-level players, it tends to intimidate new investors and collectors by adding those barriers of entry to the market.
On the contrary, the indexing power of the FRES Trust Value, along with a future ecosystem to be created with this concept, will benefit every single user of the system including experienced gallerists, collectors and art professionals.
Especially for those marginalized new-comers or small players in the traditional market model, FRES Trust Value provides a generic and neutral reference to their collecting activities. Moreover, it adds another layer of financial security to the future performance of the collection because of the tokens’ ICO market value.
In a word, the FRESCO Trust Value reflects the levels of general acknowledgement from today’s art world, about the artistic and market value inherent in works of art.
It is primarily manifested as collectors’ judgement of artwork’s current value, and it also indicates every expectation they continue to anchor for the work’s future performance on art market.
