ArtSwap is led by tech founders, artists and lawyers coming together because of their deep love for the art community.
The main goal of ArtSwap is launching the platform and a marketplace to empower true collaboration between galleries, artists and collectors with the result of improving personal interactions between all participants.
Problems
Because of the illiquid nature and non-correlation with financial markets, art has always been a preferred alternative investment vehicle. In the past, artists of renown were funded by patrons – the wealthy few who directly supported artists by paying them directly for their art. Today, there is a gallery system that carefully curates fine art collecting. ArtSwap's mission is to help galleries build a better community.
By partnering with Rumsan Associates, ArtSwap is currently in its developing phase where they are building a platform and marketplace that will be collectively owned by gallery owners, artists, and collectors. This gallery-driven community will rely on blockchain’s capability for transparency, authenticity, and provenance given that art by its nature currently relies on lagging pricing and trading mechanisms. Some collectors might benefit from a lack of transparency – with art influencers, selected collectors and museums accepting discounts not always available to all collectors, while others may be hurt by it, namely those collectors who sell a living artist’s work in the secondary market and get penalized by galleries if such secondary market sales possibly disrupt pricing norms.
By ensuring transparency and leveling the playing field for each participant’s benefit, the ArtSwap platform and marketplace will create communities where gallery owners, artists and collectors are truly aligned - and all can benefit in equal measure.
