Investment in fine art just got even more accessible as Freeport, a soon-to-launch blockchain-based platform, offers a one-of-a-kind collection of tokenized prints from renowned pop artist, Andy Warhol.
The collection includes four of Warhol’s most iconic artworks – ‘Marilyn’ (1967), ‘Double Mickey’ (1981), ‘Mick Jagger’ (1975) and ‘Rebel Without a Cause (James Dean)’ (1985), each of which is available in 1,000 limited edition tokenized lots.
Rather than being exclusively available to high-net-worth individuals due to pricing restrictions, the platform allows retail investors to fractionalize shares of fine art for a fraction of the cost.
Dave Hendricks, CEO and co-founder of digital asset management tool Vertalo, confirmed that Freeport would make use of their tool to tokenize the artworks for sale on decentralized finance (DeFi) platforms. Freeport have already cleared the necessary regulatory hurdle with the U.S. Securities and Exchange Commission (SEC) to proceed with their Ethereum blockchain security token offering.
The collection will launch in May and the starting price for each tokenized lot will vary from $250 to $860. To kick off the project, art collectors can join the Freeport waitlist now. Freeport aim to redefine art ownership as a digital experience and not just a simple investment.
Describing the purpose of their project, co-founder and CEO of Freeport, Colin Johnson, said: ‘As more and more value moves on-chain, fractionalized art is increasingly being sought after by a younger, yet less financially flexible, class of investors. 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.’
To purchase works from the Andy Warhol collection, prospective buyers will use the ‘Art Blocks’ platform, a specialized secondary marketplace that requires no platform fee, nor collects royalties from the artwork, thus remaining true to more traditional art financing. The platform aims to provide a secure environment for a variety of art forms, free of production knockoffs and scam projects.
The announcement by Freeport that they are tokenizing Andy Warhol prints is music to the ears of art collectors who previously were unable to participate in the magnificent investment of fine art. Blockchain technology has made impressive leaps in democratizing asset ownership, and the revolutionary Freeport platform is the latest milestone on that journey.
Unlocking Warhol: Freeport Platform Introduces Exclusive Collection of Tokenized Artworks!
Fine art investment is becoming increasingly accessible as Freeport, a soon-to-launch blockchain-based platform, is offering a limited edition tokenized collection of prints from renowned pop artist, Andy Warhol.
This exclusive collection, which is limited to 1,000 tokenized lots each, includes four of Warhol’s most iconic artworks – ‘Marilyn’ (1967), ‘Double Mickey’ (1981), ‘Mick Jagger’ (1975) and ‘Rebel Without a Cause (James Dean)’ (1985). While historically only accessible to high-net-worth individuals, through this platform ordinary retail investors can now fractionalize shares of fine art at a fraction of the cost.
Through the use of Vertalo’s digital asset management tool, Freeport can tokenize the artwork so they can be bought and sold on decentralized finance (DeFi) platforms. With a regulatory hurdle successfully cleared with the U.S. Securities and Exchange Commission (SEC), the launch of the Freeport security token offering on the Ethereum blockchain is on the horizon.
Those looking to purchase works from the Andy Warhol collection will do so via the ‘Art Blocks’ platform – a specialized secondary marketplace that requires no platform fee and none of the royalties from the artwork are collected. In this way, it remains more true to traditional art financing and provides a secure environment for a variety of art forms, free of production knockoffs and scam projects.
Available in May, the starting price for each tokenized lot will vary from $250 to $860. With their fully immersive interactive platform and art-centric community, Freeport are daring to redefine art ownership as a digital experience. (www.christophechoo.com) The blockchain-enabled Freeport platform is unlocking the investment of fine art, making it available to a wider audience of enthusiasts.
