en
Back to the list

ARTBANX and AllianceBlock Team Up to Bring Art-Backed Financing to the Web3 - TheNewsCrypto

source-logo  thenewscrypto.com 20 January 2023 11:00, UTC

AllianceBlock, which sets up trustless and decentralized infrastructure to create seamless gateways between TradFi and DeFi, today announces a strategic partnership with ARTBANX, the most complete, adaptable, and secure collection management system available to collectors, art professionals, and financial institutions.

A significant step toward bridging the gap between Traditional Finance (TradFi) and Decentralized Finance (DeFi), this cooperation between AllianceBlock and ARTBANX is a first in the industry. Art may now be a bankable asset class thanks to ARTBANX’s administration of art collections, market data, and financing infrastructure. This asset class will grow thanks to a marketplace based on blockchain technology.

AllianceBlock will enable the tokenization of physical pieces of artwork and enable an art market by integrating Nexera Protocol’s infrastructure and NexeraID’s identity management toolkit. The ability to access the liquidity of their physical art via a platform for real-world asset-backed finance using physical artworks as collateral opens up new opportunities for art collectors. As a result, the art community will have more options to contribute liquidity, and a larger Web3 audience will have access to the ARTBANX marketplace.

According to the most recent Art Market 2022 Report from Art Basel and UBS, the global art market increased by 29% year over year, reaching total sales of US$ 65.1 billion. This growth included a significant increase in interest in digital art, which was made possible by NFTs and reached a high of US$ 11.1 billion. This new platform will provide art collectors a simpler method to access the liquidity of their assets while also keeping digitally represented ownership of the underlying by combining the technological stack of ARTBANX and AllianceBlock. Additionally, it gives more people the opportunity to provide liquidity to the booming art market and to take advantage of the tokenization of physical assets in the real world.

Additionally, by using the inherent advantages of third-generation NFTs and blockchain technology, ARTBANX’s Web2-based technology stack will be able to smoothly convert and integrate into Web3 thanks to the MetaNFT standard, which is driven by AllianceBlock and Nexera Protocol. The time to market for releasing this new platform is significantly shortened, and the cost of development and resources for this solution are significantly reduced, thanks to the use of AllianceBlock and Nexera Protocol’s blockchain infrastructure.

”We are thrilled to announce our revolutionary partnership with AllianceBlock, which is set to transform the art market through the power of cutting-edge technologies. By leveraging AI, we have seamlessly integrated the transactional records of millions of artworks, providing collectors, investors and art enthusiasts with unparalleled insights for informed decision-making in fractional art-backed financing.” said Mads Boie Thomsen, CEO & Co-Founder of ARTBANX. ”This partnership is a prime example of how DeFi can be used to provide alternative financing options and bring us one step closer to making art a bankable asset class.”

“We are excited to partner with ARTBANX and take another step towards our mission to bridge TradFi with DeFi. The art market is a lucrative market and ripe for disruption. Using Nexera, we’re enabling a new financial model that preserves DeFi values; self-custody, transparency, decentralization, peer-to-peer, security and privacy while providing a more stable yield in a less volatile market.” said Matthijs de Vries, Founder and CTO at AllianceBlock. “This partnership is a great example of how businesses can use our decentralized infrastructure to create new financial products and services. Partnering with ARTBANX, one of the leading collections management systems in the world is a big step forward for the industry.”

The collaboration is a prime illustration of how both businesses may gain from one another. By tokenizing real-world assets, participants may get access to a less erratic and steadier market. Traditional institutions will gain from being able to offer their lower-risk asset classes to the blockchain industry as well as from the inherent advantages DeFi offers in the areas of privacy, decentralization, and security as the industry matures and AllianceBlock expands and offers its solutions in a wider market.

AllianceBlock and ARTBANX are dedicated to giving customers new methods to access liquidity for asset classes that were previously unbankable or unavailable without the need for centralized organizations.

thenewscrypto.com