coincodex.com
Key Highlights:
- AllianceBlock announces strategic partnership with ARTBANX following its commitment to bridging the gap between traditional finance and DeFi
- The companies will combine efforts to launch the art market into the world of DeFi
AllianceBlock Collaborates with ARTBANX
AllianceBlock, an ecosystem for on-chain gateways announced today, its revolutionary partnership with ARTBANX, a leading collection management system for collectors, art professionals, and financial institutions that has proven to be the most comprehensive, customizable, and secured in the industry.
The partnership will see AllianceBlock joining efforts with ARTBANX to bring art-backed financing to web3. As such, they will be providing a platform where art collectors can access real-world asset-backed financing while they offer their physical artworks as collateral. Thereby unlocking more possibilities for art collectors as they will be able to access the liquidity of their physical art.
Following the partnership, AllianceBlock will utilize ARTBANX’s art collection management, market data, and financing infrastructure to foster art's possibilities of becoming a bankable asset class, which will be expanded with a marketplace built on blockchain technology.
Mads Boie Thomsen, the CEO & Co-Founder of ARTBANX expressed the company's delight to announce its revolutionary partnership with AllianceBlock, explaining that the partnership is set to transform the art market through the power of cutting-edge technologies. Thomsen said:
"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.”
Meanwhile, AllianceBlock will incorporate Nexera Protocol’s infrastructure and NexeraID’s identity management toolkit to enable the tokenization of physical artworks and facilitate a marketplace for art.
Basically, the development will create the privilege for the art space to provide liquidity while also opening up the ARTBANX marketplace to a broader Web3 audience. The Founder and CTO at AllianceBlock, Matthijs de Vries, also expressed the platform's excitement on collaborating with ARTBANX, acknowledging it as a new milestone towards reaching the team's mission to bridge traditional finance (TradFi) with decentralized finance (DeFi). De Vries' statement reads:
"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."
It appears that the collaboration between AllianceBlock and ARTBANX will be of great benefit to each of them while taking them a step closer to achieving their mission. The announcement revealed that AllianceBlock and ARTBANX are committed to providing new ways for users to access liquidity for previously unbankable or inaccessible asset classes without the need for centralized entities.
The price of ALBT, AllianceBlock's native token, saw a considerable rally in the past month. The token gained over 115% in the 30 days and was trading at $0.097589 at press time.