Andy Warhol Painting to Be Sold via Blockchain in ‘World’s First’ Crypto Art Auction
platform Maecenas has announced today, June 7, that it will hold the “world’s first cryptocurrency art auction”, according to a press release shared with Cointelegraph. The platform will be selling fractional ownership of Andy Warhol’s 14 Small Electric Chairs – worth $5.6 mln – at crypto-friendly fine art gallery Dadiani Syndicate on June 20.
The sale of 49 percent ownership interest in the painting, which is part of Warhol’s 1980 Reversal series, will allow buyers to purchase digital certificates of partial ownership on the Maecenas blockchain platform using their ART token as well as (BTC) and (ETH).
Maecenas creates tamper-proof digital certificates linked to works of art on the blockchain, which investors can then buy and sell to other investors on the Maecenas exchange.
According to the press release, while a smart contract run on the Ethereum blockchain will determine the final price for Warhol’s painting, Maecenas noted that the reserve price is set at $4 mln and that all buyers must comply with KYC and AML checks.
The Dadiani Fine Art gallery began accepting crypto as a payment in 2017, and the Dadiani Syndicate, which functions as a luxury marketplace, accepts bitcoin, Ethereum, and (LTC) as payment options.
Blockchain tech has previously been applied in the of verifying providence, copyright, ownership, and valuation and authenticity of a piece.
As opposed to being used to buy art, cryptocurrency has also been incorporated directly into art, as one painting series in March of this year to crypto wallets containing as much as $9,000 each.
Everyone at one time or another has had this common problem; Documents not getting to where they need to be on time. Whether it was late Mortgage Docs causing a delay in closing, late prescriptions to pharmacies causing painful wait times or even patient docs being delivered to hospitals late; These issues can cause irreparable damage. Aston’s new Auto Document Distribution Platform based on Blockchain Technology makes waiting a thing of the past.
[Note: This is a press release.]
Los Angeles, CA – Nov 19, 2017, Aston made headlines this week with the announcement of a fresh ICO based on a Next Generation Document Distribution Platform that they have developed. ASTON is a completely decentralized document authentication platform which has been built on X-chain, a better version of conventional . ASTON streamlines the authentication of digital documents making hard copies of sensitive documents and trusted third-party institutions relics of the past.
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This Initial Coin Offering is highly anticipated not only because of the merits of the ASTON Platform but also because of the team behind ASTON. The team at ASTON has several achievements under their belt, with the most notable being the Medical Proof Certification that enables hospitals to issue and retrieve documents to/from patients to fill out via Smartphone. In this case, the Blockchain Technology eliminated the problem of storing and securing sensitive information. Aston is currently partnered with over 90 Hospitals in Korea that have adapted this pilot medical certification service. Another notable achievement of Aston is Doorian, the first blockchain-based mobile FinTech platform in Korea.
During a recent seminar, the company spokesperson for Aston was quoted as saying, “We are extremely excited to introduce this new Document Distribution Platform to the market. Hospitals, Banking Institutions and Governmental Organizations are just a few that will be adopting this technology in the near future. It wouldn’t have been possible to have such success with our ICO Launch without the support from so many players in multiple industries. This ICO is going to be one for the record books and we can’t wait to see consumers benefit from it by getting their documents where they need to be at the speed of light!”
This highly anticipated ICO is set to launch on December 11, 2017, and current market demand indicates that this will be a sold-out event. As with any opportunity, it is important to get in early while the discounts and bonuses apply, as the ICO’s maximum profits will be achieved by entering into it during the Pre-Sale. The Pre-Sale will begin on December 6, 2017, and all investments during this period will receive a 30% Pre-Sale bonus. Pre-Sale is set to close on December 10, 2017, at which time the ICO will Launch and will be open to the public.
To learn more about investing in this ICO or to learn about how companies are adopting the Aston technology, visit their official website at or read their Whitepaper directly by .
Media Contact: tack@aston.company
Aston
Attn: Media Relations
Seoul, Korea
Ph: +82-2-6332-2245 aston@aston.company
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