The ease of duplicating and counterfeiting works of art and the high prices of some of them encourage many people to try to create, even professionally, copies and replicas of some of the most famous works of art in the world at the expense of defrauding collectors.
Encrypto Art saw this need at the hands of Lorenzo Quinn, an internationally recognized artist mainly as a sculptor who, together with his team, began to think of new ways through
technology to solve this problem.
Hand in hand with Peersyst Technology as a strategic ally in Blockchain technology, the Encrypto Art team, led by Nicholas Quinn, defined and developed a system based on Harmony's Blockchain technology and IoT technology to link physical works that would allow the issuance of certificates of validity of unique art in an immutable and decentralized registry and that at the same time could easily and truthfully represent a physical work such as a sculpture or a painting.
NFT technology has exploded during the first half of 2021. However, it is not a new implementation and its existence, although not as popular, can be found for several years.
With the requirements in mind and with NFTs as a possible solution, the Encrypto Art team and Peersyst set out to define a solution to mitigate the risks of buying art online.
To do this, a unique and exclusive platform was developed, currently hosted on encrypto.art, which consists of an easy and intuitive online gallery for all its users. Any collector is able to register using a few simple forms and access to see all the content of the different artists.
On the other hand, artists can also register on the platform but they require a KYC process to be identified and verified to ensure that all the publications made are from the hand of a real artist and not a potential scammer.
This platform uses public/private key cryptography to generate accounts linked to users, both artists and collectors, which only they can access and through which digital signatures can be registered for the publication of works and transactions within the Blockchain network, which are identified on the platform.
At the same time, NFTs (Non Fungible Tokens) are being used to represent the artworks in the digital gallery. Every time a work is created by a verified artist, a unique token is created in the Blockchain registry identified with a unique ID with supply 1, so we make sure that there is no copy of the work it represents in the world. Together with this token, the reference and identification data of the real work is also linked through metadata, which is sealed in the Blockchain registry and allows the work in question to be exclusively identified.
This work is automatically published in the artist's portfolio and exhibited in the digital gallery.
The registration of the NFT is used as a certificate of validity and digital representation of the work, which can later be purchased in person or by delivery. In this way, collectors can safely obtain and buy a digital certificate issued by the original artist in a transparent way, since it can be verified in the blockchain registry in a public and decentralized way that it was indeed the account of the verified artist who issued this certificate. . At this time, certificates are the most important ally that allows you to buy online safely and at the same time register the physical sale of the real work.
There is only one point left to close the circle. How do we link the physical work to the digital
This solution has been developed over the last 12 months to launch the first MVP that has all the basic components to securely purchase art online. The product is still under development and the team works to add more and more features that facilitate interaction and security when buying art on the platform.
1- Study of requirements and definition of the platform
2-Development of the MVP and NFT technology
2-Development of the MVP and NFT technology
3- Development of the Admin Panel and integration of the payment method
Launch of the MVP in London
Keep iterating the product
Encrypto Art managed to launch the first version of its product without errors and allowing it to welcome all collectors and artists who, in a few years where physical contact has been greatly reduced and art galleries cannot be organized, needed a safe alternative and comfortable to continue exhibiting and marketing their physical works.
Collectors and artists can now exhibit and sell their art in a global and completely online gallery, without exposing themselves to contagion and increasing the reliability of the works they are exchanging. They will also soon be able to claim digital certificates of previously purchased works to include them in the gallery and their personal portfolio.