Dadiani Syndicate, the UK’s first fine art gallery to accept cryptocurrency payments, will collaborate with blockchain platform Maecenas Fine Art to stage a momentous sale.
The date of the sale—which will enable the use of cryptocurrencies to purchase fractional interests in high-value works of art—will be announced this later month.
The concept behind the joint venture is to democratise access to fine art by esteemed artists such as Andy Warhol, Pablo Picasso and Rembrandt van Rijn.
The sale, whose goal is to broaden art ownership and develop the global art market, will include a multimillion-dollar artwork that will be available in digitized financial units for investors, collectors and owners to trade on the Maecenas platform.
Dadiani and Maecenas share a mission to globalise and bring greater transparency to the traditional model for buying and selling fine art.
Both companies believe that by enabling the purchase and sale of works of art on the blockchain and using cryptocurrency, they can help create new opportunities for art ownership and broaden and deepen the global art market.
The partnership, which will also see the creation of the world’s first tokenised, blockchain-based art fund, has come about as Dadiani and Maecenas work to both globalise and bring greater transparency to the traditional art investment model.
Marcelo Garcia Casil, co-founder and CEO of Maecenas, said:
‘Our partnership with Dadiani is an important step in developing a unique new financial structure that significantly enhances the art market which has remained otherwise largely unchanged for hundreds of years.’
With their respective areas of expertise in art, finance and technology, Maecenas hope their partnership with Dadiani Syndicate will ‘create an ambitious synergy of innovative minds committed to bringing the antiquated art investment market into the 21st century.’
Eleesa Dadiani, the founder of Dadiani Syndicate, said: ‘Dadiani Syndicate is proud to partner with Maecenas, our fellow pioneers in bringing new technologies.
‘Together we aim to render the future of fine art investments to global reach. The cryptocurrency will broaden the market, bringing a new type of buyer to art and luxury.’