According to the Art Basel Art Market Report US$67.4 billion worth of art was sold globally in 2018. Due the to the paper-based nature of art transactions however, there are numerous provenance and traceability issues related to artworks. The artworld is thus fraught with issues of provenance, copyright and authentication.
By incorporating new and revolutionary blockchain technology that utilizes a decentralised, distributed ledger Unique Multiples will address this problem, allowing the artist and collector to authenticate and trace the provenance of all artworks and related transactions with an immutable digital trail. Frequently described as an unregulated and opaque market, the art world often operates on trust alone. In the art world, blockchain technology holds the key to overcoming one of its greatest challenges: the lack of transparency.
Unique Multiples is the only Contemporary Art platform that offers Unique, Curated Artists' Editions that are authenticated using blockchain technology. This technology proves provenance for physical and digital art editions that can be verified online and in real-time. This creates much-needed transparency for artists and collectors, especially as art is increasingly discovered, experienced and sold online.
