“The whole goal was to figure out the secret sauce for monetizing, without being in the artists’ pockets.” Watch Bitsonline‘s interview with Graham Goddard of All Public Art to see how they plan to use crypto investments to support worthy visual art projects in LA and beyond.
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All Public Art is a blockchain-based platform for visual artists and collectors to trade artwork. It also allows owners to track the provenance of individual items, and for artists to build a reputation that will help them generate even more attention and sales as time goes by.
In the art world, galleries might charge 40 percent (and often more) commission on sales of original works. That’s fair enough, Goddard says, since everyone in the ecosystem needs to make money to survive. But technology now allows artists to automate that process for far less, showcasing their works, handling the sales and tracking process and preventing counterfeits.
All Public Art is already operating, supporting artists in 50 countries, and even has mobile apps to peruse the works available. As long as it’s visual art the system can handle it. Goddard says they’re also trialling ways to track physical items on a blockchain-based network, as well as hosting real-world exhibitions and other promotional events.
To hear how it all works (and just as importantly, how it makes money), watch the full interview above.
Does All Public Art sound like a useful platform for artists? Let’s hear your thoughts in the comments.
Images and video via Bitsonline
Bitsonline is an official media partner for Crypto Invest Summit LA 2018.