Gaius Maecenas was a wealthy Roman art patron who died sometime around 8 BC. He was famed for finding and patronizing the best young poets and artists, bringing their works to the masses for their enjoyment. This is the vision for the newest blockchain tokenization platform named after the famous Maecenas.
Dividing a valuable asset into smaller fragments, sometimes referred to as tokenization, is an increasingly viable option for investors. Blockchain platforms have made a way for buyers to unify lesser resources and buy stake in assets that are tangible and would normally be beyond their price range.
Maecenas, built on the Ethereum platform, is created for the tokenization of artwork. These works are kept in custody within secure vaults. One example are freeports, beautiful and contemporary viewing locations inside of tax-free zones near international airports.
The platform functionality allows transactions to take place using the cryptocurrency issued for purchases and leases called ‘ART’. ART is an ERC20 token issued by Maecenas. Through the platform, Maecenas tokenizes assets, using ART as a tool critical that keeps all transactions inside the ecosystem and avoids international currency issues. The tokens can also be traded on exchanges for normal centralized currency.
Tokenized sales models are built on the fundamental concepts that undergird stock markets. Lower cap investors can, through tokens, own portions of higher value companies like Facebook, Monsanto, or GE. With the formulation of the Maecenas platform, the art world will be controlled by the many rather than a few powerful patrons who can afford to spend large sums of money.
Bringing Maecenas to the world
Art patrons know that the art world is quickly growing in value. Current valuations place the net capitalization at $65 bln annually, indicating that a platform like Maecenas is needed for smaller patrons. Tokenization of art investments has created a means through which Maecenas can provide a stronger market for its investors.
Investors seeking tangible stability through diversification of their portfolios can find it through the Maecenas platform, owning portion interests in assets previously only available to the highest buyers.
As prices increase, investment will grow, new marketplaces will be opened, and the demand for artwork is certain to go up in tandem. Maecenas has already created the platform to ensure this leap to mainstream happens smoothly. The Maecenas platform will produce a new generation of art patrons.
Finally, the platform allows investors to interact and function through a peer-to-peer (P2P) ecosystem. This provides limitations on the fees that have been traditionally charged by auction houses.
The ART token
As with other early development cryptocurrencies, investors who entered the market in the early days had the most profit. Maecenas is offering ART tokens via an ICO, and investors should consider participating. Tokens are sold at 480 ART/1 ETH.
Maecenas is capping the maximum number of tokens being offered so as to preserve value. As a test of the power for success of the Maecenas platform, Pantera Capital has already invested in ART tokens.