The art market has notoriously struggled with liquidity constraints, as sales of physical pieces are often limited to galleries and auction houses and ownership confined to a select group of collectors. However, rapid technological developments such as blockchain have accelerated a considerable shift in the art industry toward digitalization.
The Art Market 2021, a report published by Art Basel and UBS, estimated that a rise in aggregate online art sales doubled since 2019, reaching a record high of $12.4 billion in 2020.
By allowing merchants, artists, galleries and auction houses to certify, authenticate and fractionalize artwork, ORIGYN Art lowers the barrier of entry for buyers and empowers owners to sell digital portions of a sought-after physical artwork to a broader audience of enthusiasts.
Masterpieces from world-renowned artists will always provide vital benchmarks, both for history and the economics of art collecting. However, it is truly the power of fractionalization that democratizes art of all kinds, bringing it to a greater and broader audience and setting the course for a market of the future.
Collectors have already integrated online sales into their way of buying art (+524% increase from 2019 to 2020). Moreover, digital art is the new trend in financial assets, and the NFT phenomenon opens the art world to millions of new investors.