What Is 4ARTechnologies?
4ARTechnologies is a decentralized platform offering cataloging and transactional services with the aim of improving transparency, security, and processing efficiency in the art world. The platform will combine blockchain technology with augmented authentication technology in efforts to solve some of the most pressing challenges in the art world such as the lack of a comprehensive method of authenticating and verifying artwork.
Some of the essential services that 4ART will provide to its users include: Fingerprinting service, Data storage service for the artworks transaction history, Certification issuance for validating and documenting transactions around an image, Transaction verification service and Art Cataloging for museums and galleries.
How 4ARTechnologies Artwork Forgery-Proof Blockchain Works
Most cataloguing and transaction platforms offering similar services are only compatible with authenticating digital certificates like history and provenance. However, 4ARTechnologies will enable users to authenticate the physical image of the artwork itself. The augmented authentication technology will then be integrated into the 4ART mobile application to simplify and fasten the verification process.
Once the users scans the image and its structure, material, texture and color spectrum the platform’s software systems records it and its converted into its own unique fingerprint. An artwork’s “fingerprint” stores its relevant information on blockchain and provides the artwork with a biometric passport that cannot be forged. 4ART is the first platform in the industry to store together the artwork’s information and its valuation, which guarantees the authenticity to the digital certificate and the physical appearance.
4ARTechnologies 4ART Coin &ICO Details
The platform’s utility token is the 4ART token, which is the accepted payment method for services offered within the 4ART platform. Users can purchase the token during the ICO using any acceptable fiat currency by the platform. After the purchase of the tokens, the users will receive a free 4ART Wallet where they can store their 4ART coins.
Parameters Of The ICO
- Token: 4ART
- Token protocol: Ethereum
- Hard cap: 250,000,000 USD
- Soft Cap: 15,000,000 EUR
- PreICO date: 2018-06-25 – 2018-07-22
- ICO date: 2018-07-23 – 2018-09-28
- PreICO Price 1 4ART = 0.10 EUR
- Price 1 4ART = 0.30 EUR
- Accepted payment methods: ETH, BTC, Fiat
Elimination Of Fraud
An artwork’s information is recorded on the blockchain and users can verify and authenticate artwork simply scan it using the mobile application. This will eliminate fraud in the art industry, as information stored on the blockchain is immutable.
Through the utilization of smart contracts and blockchain technologies parties involved in an artwork’s transaction are guaranteed of their privacy during the transaction. Transparency will also be improved since it is easy to track the history of artwork.
Access to condition reports in the art market is currently difficult in the Art market. Through 4ARTs mobile application, will receive condition and restoration reports almost instantly after the completion of the art transaction.
Management Of Portfolios
The platform offers services that enable users who could be the art owners or museums or galleries with large portfolios to maintain ownership certification of their art, lending, restoration, transportation, and insurance coverage related to an artwork.
4ART’s smart contracts will ensure that artists gain royalties on their work by notifying them as soon as any of their artworks gets sold therefore enabling the artist to earn without having to disclose the buyer information.