When it comes to digital art, the use of blockchain for artwork authentication has been gaining currency. Art Group Limited, a Cyberport alumnus, has developed a blockchain-based chipset for physical artwork and collectibles.
The start-up’s solution lets artists, collectors, art dealers, as well as managers of galleries and museums attach chipsets, coded with Decentralised Identifiers and Verifiable Credentials, to artworks and benefit from enhanced IP protection and authentication. The start-up aims to build a secure exchange for the art ecosystem to combat IP theft, plagiarism, and copyright infringement, thus making it easier to track, trace, and trade artworks.
Art Group’s product is available as a three-part prepaid package. The ENTITLE Starter Kit includes SIM-card-like tags (embedded with Infineon’s high-security SECORA™ Blockchain chipsets to store the cryptographic private key). The ENTITLE app allows users to activate chipsets and generate digital IDs without needing to learn or understand blockchain. Then there is an ARTRACX Curator platform offering a suite of free catalogue and artwork management services.
CEO Daniel Chun explained that in the development of this solution, Art Group has drawn on its over 10 years of experience operating OpenHeart, a digital platform for charitable gifting and fundraising. Besides aiming to support the art market in its KYC processes, it plans to provide an online auction marketplace, a digital viewing room, and a native web conferencing tool for art professionals to meet and do business in the future.
ARTRACX made its debut at the recent Affordable Art Fair and received a warm reception. Beginning in September, those interested in seeing the solution in person can find it on IT Street in Cyberport, near the live streaming area.
