Particle is Creating a Blockchain Platform for Art Enthusiasts
Colin Smith — September 2, 2022 — Tech
References: particlecollection & businesswire
'Particle' is an art technology company headed by experienced individuals in the fine art space. The company is creating a platform that decentralizes ownership of fine artworks, providing more access to luxury artworks than ever before. Rather than having to attend a private in-person auction to acquire fine artworks, Particle acquires the artwork and works with the Avalanche blockchain to split each artwork into 10,000 different NFTs. These are called 'Particles,' with each Particle representing a portion of ownership of the artwork.
Shingo Lavine, a co-founder at Particle, stated: “Previously, owning great art has been out of reach for almost everyone. We’re changing the narrative of ownership through NFTs and blockchain technology and enabling a new collection experience through democratizing ownership of the world’s greatest masterpieces," continuing to note that one of the most attractive features of Particle is its ease of access. The platform enables collectors to trade, transfer, and market their Particles as they see fit, creating an interactive online community of art enthusiasts.
Image Credit: Particle
Shingo Lavine, a co-founder at Particle, stated: “Previously, owning great art has been out of reach for almost everyone. We’re changing the narrative of ownership through NFTs and blockchain technology and enabling a new collection experience through democratizing ownership of the world’s greatest masterpieces," continuing to note that one of the most attractive features of Particle is its ease of access. The platform enables collectors to trade, transfer, and market their Particles as they see fit, creating an interactive online community of art enthusiasts.
Image Credit: Particle
Trend Themes
1. Decentralized Ownership - Creating blockchain platforms that decentralize ownership of luxury goods and artworks can disrupt the traditional auction and ownership process.
2. Fractional Ownership - Enabling fractional ownership through NFTs and blockchain technology can make luxury goods more affordable and accessible to a wider audience.
3. Interactive Online Communities - Developing interactive online communities of art enthusiasts who can trade, transfer, and market their ownership of luxury goods can create new opportunities for engagement and revenue streams.
Industry Implications
1. Fine Art - Using blockchain technology to fractionalize fine artworks and decentralize ownership can disrupt the traditional auction and ownership process.
2. Luxury Goods - Applying fractional ownership and blockchain technology to luxury goods can increase accessibility to a wider audience and can change the way luxury goods are owned and traded.
3. Online Marketplaces - Developing interactive online communities of collectors and enthusiasts on blockchain-based marketplaces can disrupt traditional auction houses and change the way high-value items are bought, sold, and traded.
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