ORIGYN Art is a decentralized community for the fine art market on the blockchain. We mint digital certificates of authenticity via a non-fungible token, also referred to as a digital twin, and establish an irrefutable connection between physical works of art and their digital counterparts. Our mission is to become the global standard in tracking artwork provenance and certifying authenticity, while also unlocking the power of our marketplace to bring a new dimension of liquidity and co-ownership to the art world.
Enabling Certified Authenticity and Democratized Ownership
We believe truth can be certified, and we enable galleries, artists and collectors to ensure the authenticity and provenance of their treasured art assets via a digital twin. By tokenizing highly desirable physical works of art as NFT certificates, stakeholders may also opt to join our marketplace, where artworks can be bought and sold and where co-ownership becomes a reality.
What challenges do we solve?
ORIGYN Art addresses two primary challenges in the art industry:
Traditionally, sales of physical pieces are often limited to galleries, art dealers and auction houses and ownership confined to a select group of collectors. However, rapid technological developments such as blockchain have accelerated a considerable shift in the art industry toward digitalization of sale processes.
Masterpieces from world-renowned artists will always provide vital benchmarks, both for history and the economics of art collecting, but these pieces have typically been unattainable by the vast majority. ORIGYN Art lowers the barrier of entry for buyers and promotes co-ownership by allowing artists, galleries and art dealers, who certify and authenticate a work of art via a digital twin (NFT), to subdivide the original NFT into pieces and sell portions of the artwork to a broader audience of enthusiasts. This fosters a unique marketplace where individuals can exchange and interact with fine art.
ORIGYN Art is formed and governed by some of the most influential participants in the global art market—from major galleries and art dealers to fairs, collectors and auction houses—who each control and operate as a governance “Node.”
Node status allows select participants to work alongside ORIGYN Foundation by minting certificates and serving as the gatekeepers of authentication. Nodes also receive voting power to help determine the future of the ORIGYN Art vertical, and may operate marketplaces where art pieces are bought and sold (e.g., Impossible Art powered by ORIGYN).
At ORIGYN Art, we create NFTs of physical art and enable co-ownership of highly desirable artworks. We take only the most sought after, collectible pieces and digitally certify them for sale on an open marketplace.
Once our governance approves a physical work of art to be added to the ORIGYN protocol, it is then tokenized as a digital twin—a solitary, tamperproof duplicate of the authenticated physical object. ORIGYN creates this digital twin, which serves as a permanent certificate of authenticity. This becomes the starting point for owners to divide the digital twin into unique NFTs before placing their highly desirable works of art for sale on an open market. It is also the basis for buyers to confirm the authenticity of these select works.
The NFT can be split into pieces, all individual and unique NFTs of their own, for sale digitally. Initial owners of a physical art piece determine the percentage of the artwork they would like to sell, offering instant access to a new dimension in art acquisition and ownership. Buyers can purchase one or multiple NFTs from an array of artworks—all of which can be resold at any time to other collectors. Because each artwork is divided into pieces, every collector acts as a co-owner.
Physical artworks are stored in a highly secure vault in Switzerland while their digital twins are made available by ORIGYN. When the individual pieces are sold, buyers receive their share of the digital work in their portfolio, and owners receive their pro-rata proceeds after fees. Based on its technology, ORIGYN aims to allow any third party to make offers to purchase the physical artwork at any time, as well as enable buyers to vote for an exit price, making decisions in a democratic way.
Eliminates the risk of losing certificates of authenticity for works of art
Expands client base, resulting in a larger network of collectors and art enthusiasts
Creates a global market for art exchanges
Lowers the “price barrier” for art collectors and enthusiasts
Offers transparency for artists and galleries and greater control of ownership for participants
Enables artists to receive a percentage of current and future sales
Increases the visibility of works of art, which often receive too little exposure