NEW YORK, NY.- Artory
, the art worlds leading blockchain-secured digital art registry, announced today that it will partner with digital art galleries and leaders in pioneering digital art, as well as with the largest fair for digital art, the Contemporary and Digital Art Fair (CADAF), to register art sales on the blockchain. As a firm supporter of this new segment of the art market, Artory is pleased to showcase a commitment to cultural innovators and expand its network of trusted data sources while guaranteeing a unique solution for both artists and collectors in the digital art space. Artory, through certificates of authenticity and the public art registry, alleviates collectors concerns by offering the security of investment and pride of ownership. Proof of scarcity secures the investment, whilst also allowing artists to prove limited numbers and increase sale potential.
The inaugural edition of CADAF took place in New York in May of 2019 and showcased the diversity of digital artistic media available in todays market. As the only art fair of its kind, CADAF aims to support the use of technology as a creative medium by expanding the digital art market and providing a curated platform for new media artists and galleries to exhibit their works. The fair inspired collaborations with others in the digital art spaceincluding Kate Vass Galerie, Khora Contemporary, DADA, and Artxcode, as well as the digital art marketplace OpenSea and the creative technologists Larva Labsall of which are now partnering with Artory.
The partnership with CADAF and other industry leaders establishes Artory as one of the most trusted suppliers of digital art sales data in the world, and will provide a secure, centralized, and transparent interface for due diligence, research, and transaction history for both fine and digital art as well as a wide range collectibles. Artory is leveraging this new technology to grow the global art market by embracing the quickly-expanding digital art space while cultivating a new wave of young collectors. Complementing the traditional art collector community, the digital art sphere diversifies the ways in which we create, experience, and acquire artemphasizing Artorys core mission to protect and grow the prosperity and enjoyment of those who buy, own, and sell art.
The Artory Registry will give visibility for the authentic artworks in this spacea space where collectors could fear they are buying a fake jpg rather than the real artworkfurther growing the market for this emerging media. Artory is proud to closely collaborate with our new partners and to be able to register the artworks of the incredible artists they represent. said Nanne Dekking, founder and CEO of Artory.
The signed records will live amidst millions of other sales records in the Artory Registry, including sales information from 4,000 auction houses from Artorys March 2019 acquisition of Auction Club, encompassing a wide spectrum of artists and genres. Leveraging Ethereum blockchain, the provenance and title of each record will be tracked and distinguished from non-trusted data - reducing the risk of permanently recording poor quality information onto the blockchain. Owners themselves stay completely unknown to Artory and the public, and can opt-in to engage with Service Providers through Artorys encrypted messaging system.
The digital partnership announcement follows the news in April 2019 that Artory successfully completed its Series A funding round, raising $7.3 million from a core group of investors. The Series A funding solidifies Artory as the industry leader in its field and marks a watershed moment for technology companies at the intersection of art and blockchain reaching the next level in terms of long-term growth potential and sustained development.
The partnership between CADAF and Artory registry is a major step in validating artistic and investment potential of digital art. It helps to empower collectors with clear provenance and authenticity information and allows artists to protect the copyright and scarcity of their works. Together we create a new transparent market for the next generation of collectors who want to go beyond the canvas and get engaged with new media art. Elena Zavelev, Founder and CEO of CADAF.