The days of high-net-worth individuals dominating the fine arts market are over! With the launch of Freeport, an upcoming blockchain-based platform, individuals of any financial background can take part in art investing. And what better way to kick off this innovative platform and shift in the market than with a special four-piece collection of prints from Andy Warhol?
The collection includes prints of some of Warhol’s most iconic works, including “Marilyn” (1967), “Double Mickey” (1981), “Mick Jagger” (1975), and “Rebel Without a Cause (James Dean)” (1985). Acquired partially from well-known art collectors, the set will be limited to 1,000 tokenized lots each.
The key to unlocking this investment opportunity for everyone is tokenization. Freeport will be using Vertalo, a digital asset management tool, to tokenize the artworks to enable people to buy and sell them through decentralized finance (DeFi) platforms. It’s no small feat to have achieved a regulatory hurdle with the US Securities and Exchange Commission (SEC), allowing the platform to tokenize fine artworks in the form of security tokens on the Ethereum blockchain.
This May, the collection will launch and open to the public. You can sign up to the waitlist now! Despite the hefty prices associated with such artwork, Freeport has made sure the starting price for each tokenized lot of the collection ranges from $250 to $860 – reasonable enough to let everyone gain access to the incredible artwork.
The launch of the collection is more than just tokenization. Colin Johnson, CEO of Freeport, commented, “Our platform goes far beyond just fractionalizing shares of fine art into security tokens – we’ve built a fully-immersive and interactive platform hosting an art-centric community and redefining the ownership experience surrounding fractionalized art.” Thus, the Freeport platform has created an art-centric community to share artwork, insights, and experiences with other members.
To facilitate the shift in the art market and make art investing accessible to all, Art Block has just launched a specialized secondary marketplace, integrated within their existing website. This marketplace allows NFTs to be bought and sold natively or from external platforms, with no platform fee and creator-specified royalties that are honored. As the industry leader in revenue from sales of $1.4 billion, Art Blocks is certainly a player in turning art investment into a more inclusive process.
The release of the Freeport platform, along with the launch of the Andy Warhol collection, is sure to revolutionize the fine art market. Not only is tokenization making art investing possible for the average individual, but the social platform that accompanies Freeport will bring together art lovers and collectors from all around the world.
It’s clear that the story behind unlocking art investing for everyone is only just beginning. The successes Freeport and Art Blocks achieve in revolutionizing the art market will be a turning point for both artists and artwork enthusiasts. It’s an exciting time for the art world indeed!
