Blockchain-based art investment platform Maecenas has teamed up with crypto exchange Ethershift.co and computer security expert John McAfee to conduct the first “perpetual” digitalization and tokenization of a Picasso work of fine art.
The project is codenamed “Project Phoenix”.
We are tokenizing a masterpiece, and making the painting perpetually inaccessible. Any eventual release date of the physical painting can only be decided via a voting process by token holders, after the minimum amount of time has passed well into the future.
The auctioning process will be executed using Maecenas technology. The newly created digital asset, the first of its kind, will be represented as a single ERC721 token for the digitalized artwork. A fixed number of ERC20 tokens will separately represent shared ownership in the physical asset.
Unlike previous asset tokenizations performed by Maecenas, Project Phoenix will be a fully decentralized exercise, and the resulting unique tokens will be created on the public Ethereum blockchain.
The auction will take place around the year-end Holiday season.
Specific details and information will be announced in December. Find updates and information about Project Phoenix on the Maecenas website at https://www.maecenas.co.
If you’re interested in participating in the auction, or have any other questions or inquiries email contact@maecenas.co.
About EtherShift
Ethershift.co is an ERC20 crypto currency exchange that provides the near instant conversion of 70+ crypto assets. Ethershift has no accounts and lets customers trade without collecting any personal information.
Website: https://ethershift.co/
About John McAfee
John McAfee is a computer researcher and businessman who founded McAfee Associates in 1987 (bought by Intel in 2011). John is running for President of the United States in 2020 with a pro crypto currency platform.
About Maecenas
Maecenas is a decentralised art gallery auction market, aimed to democratise access to fine art. It is a blockchain-driven platform where fractionalized pieces of fine art are bought and sold. Maecenas uses blockchain technology to create tamper-proof digital certificates linked to pieces of art.
After launching its beta platform in June, Maecenas has successfully tokenised a $5.6m painting by Andy Warhol, which was acquired by a number of different investors who participated in the first-ever decentralised Dutch auction for an art run on the Ethereum network.
Website: https://www.maecenas.co
Originally published at blog.maecenas.co.
