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Old 12-27-2017, 12:48 PM
Artnome Artnome is offline
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Smile The Blockchain Art Market Could Help Artists Get Paid

Hi all, I am a painter but I also do research on technology and the art market. My latest post is on how a technology called blockchain is changing the art market. It is the same technology used in bitcoin but people are applying it to art as well. It is a bit confusing but I am bullish on the potential for it to cut out the middleman and make it easier for artists to get paid. Hope the article helps to break it down a little. As always, feedback welcome and appreciated!


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Old 12-27-2017, 06:06 PM
theBongolian theBongolian is online now
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Re: The Blockchain Art Market Could Help Artists Get Paid

From what I read and understood - I think this is valuable, but many things left unaccounted.

1. If you buy a piece of artwork - say a 1 percent share for $1,000. That puts a $100,000. valuation for the painting. Now the owner of the painting sells it for $50,000. You just lost $500.
2. Can I sell my share of an artwork to someone? Does Blockchain keep track of the transaction? As a buyer how can I assess the value of a share, when it's potentially being bought and sold for all different values.
3. How does this give anymore protection than a copyright and sales reciept? it might make for convenient bookkeeping, but i don't see any extra protection.
4. Let's say I have a piece of artwork for sale. I can't find a buyer on my own. Blockchain doesn't help me find a buyer. So I go to a gallery. Gallery sells the painting they take say -40% - then what Blockchain takes it's 30%.
5. I found a buyer for my painting. I don't want to give Bitcoin 30% so I don't tell them. Or if I use Blockchain, what's to keep the new owner from re-selling outside Blockchain - Then I loose the 10%, Blockchain looses track of the painting. Anyone else that had shares in the painting is out.
6.I sell a painting for $1,000, tell blockchain I sold it for $500 - to reduce the commision - or I go in with a friend, sell the painting to him for $1,000,, tell Blockchain I sold it for $10,000. Take the hit on the commision but the shares of the painting go up? The evalution of the painting is certified to be $10,000.
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Old 12-28-2017, 01:40 PM
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RobinZ RobinZ is offline
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Re: The Blockchain Art Market Could Help Artists Get Paid


I don't have any problems getting paid, so don't see the need for all this confusion.
My portrait paintings
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Old 12-28-2017, 04:52 PM
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caldwell.brobeck caldwell.brobeck is offline
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Re: The Blockchain Art Market Could Help Artists Get Paid

Originally Posted by RobinZ

I don't have any problems getting paid, so don't see the need for all this confusion.
That's probably because you're not a programmer who stands to make 30% on every transaction on a work of art

Jason - first of all, what kind of market is there for digital art in the first place? I find it hard to believe many would actually buy it in order to (say) hang around the house, since for each piece you'd also need a digital device to display it. Doesn't sound environmentally friendly to me....

On the other hand, if you buy it for uses like yours (as a visual add-on to something on the web), then in order to display it you also need to deal with artists' copyrights - even if you own the image, you aren't allowed to display it commercially without permission. Does that come as part of the blockchain process?

And once you display it, what's to stop anyone from pirating it as they do now with other images displayed on the web? I could take a copy of your image, and put it out as a print or other decorative item, there's nothing in the system to stop that.

C&C of all sorts always welcome! (I don't mind rude or harsh criticism.)
I suppose I have to do this too (my blog, & current work). My Visual Arts Nova Scotia page.
Art is the most intense mode of individualism that the world has known - Oscar Wilde
Look for yourself, think for yourself, draw your own conclusions. Then own them.
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