The success of Mediachain depends in large part on getting a lot of people to use it. For far, it’s secured some big partners—MoMA, Getty Images, and the Digital Public Library of America are all on board—but their next big step after securing funding is building relationships with more institutions and companies. That’s been a challenge—especially with art institutions that are reticent to even digitize their collections.
But Mediachain could solve that problem, too. “If a museum puts an image of an artwork online, it goes out all across the Internet and [museums] don’t know where it’s going without metrics or analytics,” says Nazarov. “One of the promises of Mediachain is it could enable you to know. We see it as enabling these institutions so they’re less afraid of opening their data. They could see open data as a business advantage to drive new types of engagement and interactions with collections and their organization.”
Source: Could Blockchains Solve The Web’s Image Attribution Problem? | Co.Design | business + design
The use of blockchain data to establish provenance for artwork has attracted the attention of more than a few innovators and engineers in the space. Now, professional services firm Deloitte has unveiled its own approach to the use case.
Deloitte’s proof-of-concept, dubbed ‘ArtTracktive’, was developed by its Luxemourg office, and according to the firm, it seeks to provide a channel for distributed information sharing between artists, owners, galleries and anyone involved in the transportation of an artwork.
Source: Deloitte Demos Blockchain Use Case for Art Industry – CoinDesk
Artprice plans to use the funds to invest further in its IT strategy and particularly their Art Market Blockchain – a distributed database containing specifications of years of complaints and lawsuits between the different segments of the Art Market chain and, notably, their relations with tax authorities and State judicial and customs services.
In the longer term the Blockchain will allow a considerable improvement in the payment of reproduction rights and other related rights to recognised copyright companies like the ADAGP in France which collects copyright duties in 43 countries.
Source: France’s State-run Public Investment Bank Invests in Blockchain Art Project at Artprice – Blockchain News
During the first generation of the internet, many creators of intellectual property were not properly compensated. Musicians, playwrights, journalists, photographers, artists, fashion designers, scientists, architects, and engineers were not only beholden to record labels, publishers, galleries, film studios, universities, and large corporations (vestiges of the pre-digital age) —these inventors now also had to deal with digital piracy that became possible on the web.
Blockchain technology provides a new platform for creators of intellectual property to get the value they create. Consider the digital registry of artwork, including the certificates of authenticity, condition, and ownership. A new startup, Ascribe, which runs on the blockchain, lets artists themselves upload digital art, watermark it as the definitive version, and transfer it, so similar to bitcoin, it moves from one person’s collection to another’s. The technology solves the intellectual property world’s equivalent of the double-spend problem better than existing digital rights management systems; and artists could decide whether, when, and where they wanted to deploy it.
Source: The Impact of the Blockchain Goes Beyond Financial Services
Everledger, the London-based startup known for uploading specifications on 980,000 diamonds onto the bitcoin blockchain, has announced a partnership with Vastari, a fine art and exhibition database.
Vastari, in which Everledger holds an investment stake, acts as a middleman between art museums that are looking for new pieces and private art collectors that want to increase the value of their art by getting it exhibited in public. This new partnership will see the art information possessed by Vastari written immutably to the blockchain.
Source: Everledger Plans Blockchain Database to Combat Art Fraud – CoinDesk
Tagsmart CERTIFY is a unique, technology-driven platform that delivers a secure and verified solution to artwork security for the global art market.
Developed by leading framer Mark Darbyshire and product designer Steve Cooke, Tagsmart meets the needs of the art world in the digital age. Over the 20 years spent in the framing and art fabrication business, it became clear to Mark that there was a real demand for increased accountability within the art market. Mark and Steve, along with a team of industry experts*, spent 18 months developing CERTIFY as a unique solution to artwork security issues.
Thanks in no small part to the Internet, digital art is having a moment, and it’s attracting collectors too. An auction last year of GIFs, digital paintings, and printouts at Phillips in London raised over $113,000, including $3,500 paid for a website by the Dutch-Brazilian Internet artist Rafael Rozendaal.
Along with money, the budding market has also raised some interesting questions: If digital art is built on a medium prone toward reproduction, how do you make a one-of-a-kind edition? You might hang digital art on your wall, but how do you prove who made it, or that you bought it?
“Sharing art online is a double-edged sword,” says Shambhavi Kadam, a cofounder of Depict, a San Francisco-based startup that is building a physical, 4K Ultra HD picture frame, along with “watermarking” software to protect works bought and sold on its platform.
Source: Fast Company