ArtPro; A Blockchain Art Solution

The Art market around the world has grown explosively over the years, majorly because of the increase in art enthusiasts and investors within the sector. The Art industry has been estimated to be worth over $2 trillion USD.

In 2018 alone, the global art market grew by 6% and recorded sales worth $67.4 billion, according to economist Clare McAndrew’s report ''The Art Market 2019,” released by Art Basel and UBS. That total makes 2018 the second-biggest year for the art market in the past decade, trailing only 2014 when sales totaled $68.2 billion.

Today art sales now take place online. In 2017, online art sales was recorded to hit a whooping $5.4 billion USD, a 10% increase from the online sales made in 2016. An undisputed fact remains that the future of art sales lies in the use of the internet to close sales and execute transactions.

Online art sales is now at a sustainable stage, though many art enthusiasts have raised concerns around online sales spanning from transparency and trust in the provenance of listed pieces of art, originality and condition of works, sellers' reputation amongst other issues.

In art, provenance is a document that attests the origin, authenticity and ownership of an art piece with verifiable information coming from convincing sources. Sad to mention, many of such provenance certificates have either been distorted, stolen, lost or destroyed often leading to irreparable losses and fraudulent transactions. As a result, an estimated $6 billion USD is lost every year, some suggestions are of the opinion that close to 40% of art pieces in circulation may be fake.

It is pertinent to have a platform that can offer real life solutions to these issues raised. It will help to strengthen investment, benefit participants and generally prosper the market.
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ArtPro is a blockchain platform designed to play a significant role in decentralizing the global art market dealing with trust issues, offering more transparency and adding more value. ArtPro is creating a marketplace where buyers and sellers (artists) of art works can meet up and exchange value on a decentralized platform. It will also be a opportunity for the art industry to enjoy unprecedented exposure to the world through the internet.

ArtPro will help in bringing stakeholders and art enthusiasts within the ArtPro ecosystem. The website and decentralized applications will be significant in helping to provide art lovers with relevant information and other needed resources to enable them enjoy a seamless experience.

ArtPro plans to enter partnerships with major art exhibitions and events that will comprise the likes of Art Basel Miami, Frieze, Monika, the Other Art Fair, Talented Art Fair and the Affordable Art Fair. It will also include sponsored advertising, product placement and exhibition of works by ArtPro artists at these events.

The blockchain will serve as a ledger for keeping permanent records of art works and also keeping track of their whereabouts as it is bought from the artist.

Trading within the ArtPro ecosystem will be fueled by the APT ERC20 compatible token, a multifunctional utility token. It will be used to pay for services within the platform, purchase art works, buying provenance reports and also used to attract and reward developers, artists and art galleries so they can become part of the ArtPro family.The APT tokens Maximum supply has been pegged at 500 million APT tokens with plans underway to make 50% available for the public sale, unsold tokens will be burned.