Modernizing the Art Industry with Blockchain Solutions
The art auction sector has long been a mercurial playground for the wealthy. However, sophisticated electronic forgeries of art have recently posed a danger to the art auction market.
Forgeries have also corrupted provenance records, generating erroneous gains or losses in value for the artist, investor, and auction house. The art industry’s influence has dwindled as a result of its failure to modernize.
Blockchain solutions development can assist the centuries-old art industry in modernizing and legitimate itself, as well as overcome several problems. Technology has the potential to improve numerous areas of the art market, including ownership, transparency, cost, availability, valuation, authenticity, and many more.