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Digital ecosystems have become an integral part of nearly every industry in today’s society, and the art world is no exception. The booming market for digital art is evidence that innovative digital elements have allowed artists to explore a whole new medium through their creativity. It seems that blockchain markets have an infinity of potential and uniqueness. In the first quarter of 2022, the art market outperformed the cryptocurrency market in terms of growth.
The online art market is now on the verge of overtaking the traditional art market, which sells physical works. Artex is a new digital art platform that enables the acquisition and sale of fine arts. The Artex Platform allows anyone to invest in first-class artwork in any amount and manage it efficiently.
Join Artex CEX and experience the Fine Arts
The Artex platform has now incorporated an exchange to make trading art more accessible. Artex CEX is the only online platform where you can purchase a real tokenised work of art. Artex CEX’s main features are as follows:
KYC Made Fast & Safe
The KYC process, which stands for know your customer, is a way of verifying a customer’s identity. The purpose of KYC is to verify that the customer is who they claim to be and to prevent unauthorised activities. As part of Artex CEX, KYC is required and is completed in 24 hours or less. Furthermore, Artex users need not worry because their confidential information remains safe with Artex CEX.
The Artex Token
On the Artex CEX, everything is traded only in Artex tokens to maximise the utility of the Artex utility token. Therefore, if you’re an investor looking for fine arts investment, you would have to buy Artex tokens first. To invest, users need to send Artex to their CEX wallet addresses. On the Artex, the platform’s first listing, “Decision of Heart”, is live and already tradeable from the renowned Turkish artist Mustafa Mutlu.
Enjoy Limit Trading & Market Trading
With a limit trade, investors specify both quantity and price. To execute the trade, the market price must reach the level specified in the trade. However, the market trade is merely a purchase or sale order where investors specify the amount they want to buy or sell, and the price is based on current market prices. On Artex CEX, users can choose between Limit Trade and Market Trade to get the best trading experience.
Integrated TradingView Panel
Users at Artex have exclusive access to an Integrated TradingView Panel, which allows all trading activities to be managed instantly. Furthermore, trading tools allow a person to view market data and trade. The integrated trading panel provides investors with real-time market data quotes that help them identify, analyse, and act on opportunities.
Secure Platform
Artex is a fast-growing online art trading platform, and its Artex CEX is fully secure. Artex CEX has been tested by OWASP (Open Web Application Security Project) using the Zed Attack Proxy (ZAP), the best security testing tool available on the internet. You can depend on ZAP since it is one of the world’s most popular free security tools and is actively maintained by a team of experts from around the world.
Unique NFT Auctions
Unique art listings are on the way to you with Artex CEX. These NFTs will be one-of-a-kind and resemble a famous artist’s real art piece. After receiving it on Artex CEX, you can then trade it on any platform you wish. Additionally, the Artex CEX is designed to receive regular updates in the future for a better experience.
Is Artex’s ArtBay Disrupting Traditional Art Marketplaces?
Similar to eBay, Amazon, and others, ArtBay is an online marketplace for fine art. ArtBay lets investors buy and sell any type of art. ArtBay is a complete new NFT marketplace on BSC, and it’s not just a place to buy or sell art. ArtBay will offer a smoother user experience than OpenSEA, RareEBay, SuperRare, Foundation, etc.
On ArtBay Marketplace, you can list your new works and receive the best prices. ArtBay will have its own dedicated platform that allows buyers and sellers to directly buy/sell NFTs. The marketplace is under development and scheduled to be launched soon. After it has been launched, you’ll be able to perform all tasks in one location. The marketplace will provide a convenient way for artists and art lovers to transact all at once, disrupting traditional marketplaces.
What makes the Artex platform unique?
Artex is the world’s first and only blockchain-based art investment platform where you can trade and manage your fine art investments at any time. The insurance value of fine art pieces is tokenised on the blockchain by art experts worldwide, based on transparent pricing. They aim to create a world where anyone can have access to first-class artwork, not just the fortunate and privileged few.
Artex was meticulously designed by the opinions of investors, artists, auction houses, and galleries. The Artex framework provides the industry with the liquidity, security, transparency, and access to investments that it requires, and facilitates a democratic process for art investments.
For example, the company first insures a piece of artwork worth $1 million in return for its value, then converts it to cryptocurrencies to keep the entire supply constant. In addition, they allow you to invest whatever you can afford in an artwork that you admire. If, for example, you can’t own the “Mona Lisa”, the token will still provide you with a memorable experience.
Artex Technology and Advantages of Artex Platform
Artex creates protected digital certificates for artworks using blockchain technology. With Binance Smart Chain Network, the artworks are tokenised and recorded via smart contracts. As part of this process, users are presented with all information transparently, including the identity and smart contract of the artwork.
The art tokenisation process converts a physical asset’s value into digital tokens backed by the asset. Digital tokens are created through distributed ledgers or blockchain systems. One can easily create asset-backed tokens and then trade them on the market on an asset tokenisation platform. Because the blockchain is a decentralised infrastructure, the value of the art tokens cannot be altered or erased by a single authority. Artex’s use of blockchain technology provides many advantages, which are outlined below:
Artwork of High Value
Pieces of artwork are solely valued by how much other parties are willing to pay for them. Therefore, rather than fundamental, technical, or economic data that influence stock prices and determine investor demand, demand will determine the price.
Immutability and Transparency
The underlying blockchain technology must be immutable for art tokenisation services to function. Immutability is a revolutionary feature of blockchain technology that gives digital assets legitimacy. This feature prevents the owners from changing the asset history, building trust and confidence.
Robust Security
Information about who you are and what you own is stored on the blockchain, decentralised. Using private key and public-key cryptography, it is possible to independently verify that an asset belongs to the rightful owner. Additionally, the public and private key pairs encrypt crucial information about assets.
There is no need for intermediaries
Blockchain-based smart contracts make it possible to automate and efficiently handle the transfer of asset-backed tokens without requiring the involvement of intermediaries. Additionally, months of settlement time, rigorous validation, and documentation processes are eliminated, and an extra layer of costs. As a result, artwork can be purchased and sold without any intermediaries.
Fair prices and reduced costs
Asset-backed tokens can automate the process of ownership and transfer of assets on a decentralised platform, thereby reducing management costs. Further, asset-backed tokenisation platforms like Artex dramatically increase assets’ liquidity and eliminate illiquidity discounts, allowing owners to charge fair market prices for their assets.
Conclusion
Whether recording auction sales or allowing fractional ownership of popular artwork, blockchain technology has steadily infiltrated the art market. The Artex team believes in a world in which everyone, not just the privileged few, can live. Artex investors can invest in world-class artworks without owning a full piece of art. Artex’s vision is to create products and services with excellent transparency in the crypto world, enabling artwork investing to become the new trend. The project looks promising since Artex aims to distribute art democratically so that any member of society can participate.
Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.
Earnings Disclaimer: The information you’ll find in this article is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgement and perform due diligence before using the information in this article. Your success is still up to you. Nothing in this article is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. If you break the city or other local laws, we will not be held liable for any damages you incur.
