As the digital art Non-Fungible Token (NFT) boom rages on, and one Clubhouse session after the other waxes lyrical about decentralization and how we are on the cusp of disintermediating established art market protagonists, one really has to ask what actually is this whole thing about?
Having been shouted down once too often for suggesting that established auction houses, dealers and galleries are here to stay, as bastions and market-makers, as they have been for centuries, one could be forgiven for thinking that this all sounds a bit cultish in its adoption and fervor. …
Almost two years have disappeared in a heartbeat, but nothing much substantial appears to have changed on the US securities regulatory landscape for blockchain tokens and other digital assets.
When it comes to any substantive pronouncement, the date of The Securities and Exchange Commission (SEC) Strategic Hub for Financial Innovation and Technology’s(FINHUB) last deep dive into digital assets appears to be April 3, 2019, the date of its “Statement on “Framework for ‘Investment Contract’ Analysis of Digital Assets”” and accompanying “Framework for “Investment Contract” Analysis of Digital Assets” (Framework).
We wrote about the Framework in an earlier post (“Is there…
We’ve been telling you about this for a while, and now it is here!
Now with the Fine Art Ledger, you can identify art and get the story behind the art by taking a picture of the art with your mobile phone!
FAL’s image recognition matches the pic with fine art registered on FAL, and tells you the name of the artist and the artwork.
All in a mater of seconds on your mobile phone.
But that’s not all…a simple click on the matched image takes you to the FAL Mobile Fine Art Experience™ for the art telling you the…
While the spotlight has recently been on established auction houses anti-money laundering (“AML”), counter-terrorism and sanctions compliance, and the prospect of the United States, like the United Kingdom and the European Union before it, making AML compliance mandatory for art industry protagonists, there appears to be little focus on the broader reluctance of established auction houses to look beyond their relationship with intermediaries in contracts for the consignment of fine art.
“While auction houses may be eager to look beyond the identity of the intermediary to enforce its rights, they appear reluctant to do so when it comes to complying…
In an earlier post, Fine Art goes online: the (virtual) reality of COVID-19 and the changing face of the fine art market, we wrote about how the art market was trying to adapt to the ravages of COVID-19.
We noted how art galleries were rushing to virtual platforms, art viewing rooms and other means of attempting to replicate the in-person fine art experience that seemed to evaporate over night.
Whether or not these attempts in some way or another successfully mitigated the blow remains, perhaps, to be seen.
“…one area that appears to be making headway, at least from a…
Blue Bite, the company that brings physical products to life using Near Field Communication (NFC) technology, and FAL partner recently published a case study on The Fine Art Ledger highlighting FAL’s unique ability to digitize works of art and use its art blockchain platform as a step towards solving the the age old problem of art authentication.
Read the full case study here.
“…by securely digitalizing artwork, FAL concurrently opens numerous possibilities that have never been available in the art world before…”.
The Case Study recognizes the multi-faceted applications which FAL provides, catering not only to collectors looking to digitize…
Our previous posts highlighted how you can add content to your works of fine art through your Fine Art Ledger member’s account.
From videos, images, to links to websites about the artist or your fine art, to documents: all allowing you to aggregate your fine art info forming one, easily accessible story about your art, cataloged neatly with your fine art in the ‘My Works’ page of your FAL member’s account.
Opening a FAL member’s account, registering your fine art, adding content, and building your fine art’s story on The Fine Art Ledger (FAL) is totally free. Simply start here.
In our last post we introduced FAL’s awesome new feature which lets you keep all your fine art info with your fine art.
And we mean that literally. Not just on an app that you need to download, or on a web page that you need to access, divorced from the physical work of art. We mean directly with the physical work of art.
And how do we do that?
We digitally tag each work of art to a discrete Blockchain and database record, which means that the work itself becomes the vault of information. Not a separate spreadsheet or…
We are super excited to let you know about our brand-spanking new feature on The Fine Art Ledger (FAL).
As you know, we are all about keeping your fine art information with your fine art. It is part of our mission to simplify the way fine art is managed, by enabling our users to electronically store their fine art information with the physical artwork.
In this way the art itself becomes the ‘vault’ of information for that work of fine art, with the artwork being further protected with its essential information authenticated in the Blockchain.
Not only does this give…
by Sam Miller and Wendy Posner**
We wrote earlier about the COVID-19 shutdown threat to gallery solvency, and possible creditor claims to works on consignment.
“…the sector requires a strong recovery plan, significant market support from collectors, and a preserved ecosystem…”.
Now two months into confinement, the threat to galleries is real with a quarter of Los Angeles fine art galleries responding to the Los Angeles Times April 20, 2020 Fine Art Gallery Survey that they would face permanent closure in 2020 “…if the situation doesn’t improve quickly…” A further five of the thirty-five galleries see closure as a possibility.