From today everyone can invest in the global art market by buying and selling fractions of works of art through blockchain technology.
This is the business model proposed by the Italian-American company Look Lateral, founded in Seattle by the thirty-year-old Mantuan Niccolò Filippo Veneri Savoia as a spin-off of the original editorial project created in 2007 by Maria Grazia Savoia, mother of the current CEO of Look Lateral .
The company has developed Fimart (Fractional Marketplace of Art), a digital platform built on four main pillars - tagging, indexing, provenance and prices - which allows users from all over the world to buy and sell art properties.
Blockchain technology allows to guarantee the correct evaluation of the work and its origin, understood as a chronological record of ownership, indispensable for experts to determine the authenticity of the work and avoid speculation on counterfeiting and legitimacy.
Anyone can choose to sell, in whole or in part, his work of art on Fimart. In the case of fractional sale, the owner will be able to retain 51% of his works of art (also retaining physical possession), while the remaining 49% will be sold to investors of art tokens. Thanks to this system, those who decide to sell will be able to guarantee liquidity, while maintaining the physical and controlling property of the work.
According to the intentions of the founder, the benefits deriving from the solution proposed by Look Lateral will not be addressed only to the owners of the work but also to all the other subjects that revolve around the market.
On the one hand, investors, who will be able to access a global market to diversify their portfolio by investing in cryptocurrencies in a solid and tangible resource such as art, and simple "art enthusiasts", who will be able to buy and sell fractions of real works of art. art, for pure fun and for profit.
On the other hand, art galleries, which through Fimart will be able to sell works, in whole or in fractional shares, to new collectors or investors and recover new liquidity while maintaining the right to sell and collectors, who are guaranteed access to complete information. and certified.
With a view to constant development, the company uses the support of several strategic partners including Dragonchain, for data security on the blockchain and Certilogo, which provides the authentication platform.
