Artfi (ARTFI): Pioneering a New Era of Art Investment
What is Artfi (ARTFI)?
Artfi (ARTFI) is a pioneering investment platform designed to revolutionize the traditional art world by merging it with the innovative Web3 infrastructure. Its mission is to democratize the $1.5 trillion fine art and collectibles market and allow nearly anyone to enjoy the financial benefits of investing in iconic blue-chip artworks by world-famous artists. By harnessing the power of blockchain technology and NFTs, Artfi makes it possible for retail investors, family offices, fraction traders, and art enthusiasts to collectively own million-dollar works of art and gain access to an alternative asset class for portfolio diversification.
Who Created Artfi (ARTFI)?
Artfi was founded by Asif Kamal, a renowned art connoisseur and collector. Kamal is also the founder of Alturaash Art, an international art house based in Dubai and Delhi. His deep understanding of the art world has been crucial in shaping Artfi’s vision.
Co-founder and COO, Aly Raza Beig, brings a wealth of experience in Web3 technologies. He is also the founder of BoredPuma, a leading creative agency in the Middle East focused on Crypto, NFTs, and Blockchain Development.
The team is supported by Francis Gurry, an internationally recognized expert in intellectual property. Gurry served as the Director General of the World Intellectual Property Organization (WIPO) from 2008 to 2020.
Raza Beig, an avid art collector and CEO of the Splash fashion brand, adds his expertise in art, fashion, and creativity to the team.
Her Highness Sheikha Hend Faisal Al Qassemi, an accomplished architect, artist, and entrepreneur, is also part of the team. She is the CEO of Paris London New York Events & Publishing (PLNY), which includes Velvet Magazine, House of Hend fashion house, and The Flower Cafe.
Sameh Sadaqa, the Lead Blockchain Engineer, brings his skills in building smart contracts and developing NFT marketplaces to Artfi.
What VCs Back Artfi (ARTFI)?
Artfi is backed by notable venture capital firms, including Sui and DWF Ventures. Their support has been instrumental in bringing Artfi’s vision to life, providing the necessary resources to develop and expand the platform.
How Artfi (ARTFI) Works
Artfi’s process can be broken down into several key steps: Selection, Acquisition, Fractionalization, Trade or Hold, Sale, and Royalties.
Selection
Artfi’s world-class art experts carefully select distinguished works of art for acquisition. Only artworks with impeccable provenance are considered, ensuring that the pieces in the Artfi collection are of the highest quality.
Acquisition
Artfi acquires artworks on consignment from sellers. This means that Artfi does not purchase the artworks outright but rather holds them on behalf of the sellers. This approach ensures that only authentic and high-quality pieces are included in the collection.
Fractionalization
Once an artwork is acquired, it is fractionalized into multiple NFTs. Each NFT represents a fraction of the artwork, allowing multiple people to own a piece of it. The Artfi team determines the number of fractions for each artwork, which directly affects the price of each NFT. The physical artwork is displayed in the Artfi museum in Dubai once all NFTs are sold.
Trade or Hold
Artfi NFTs are liquid, meaning they can be traded on the Artfi marketplace at any time. Investors have the option to hold onto their NFTs or sell them to others. Additionally, users can stake their NFTs to receive a portion of royalties from secondary market trades.
Sale
After a period of time, when market conditions are favorable, Artfi may approach the community for permission to sell an artwork. If the community agrees, the artwork is sold, and each NFT holder can redeem their NFT for their share of the revenue generated from the sale.
Royalties
Every sale on the secondary market includes a percentage of royalties. These royalties are divided into three categories:
● Community Royalties: A portion goes to the community of Artfi NFT holders.
● Minter Royalties: A portion goes to the minter who originally bought the Artfi NFT during the primary sale.
● Artist & Collector Royalties: A portion goes to the artist or collector who consigned the artwork with Artfi.
ARTFI Goes Live on Bitget
ARTFI is the native token of Artfi. Trading ARTFI on Bitget offers a unique opportunity to engage with Artfi's innovative revenue-sharing model.
As a deflationary utility token on the Sui blockchain, ARTFI tokens facilitate NFT marketplace payments, reward stakers, and act as a store of value. With a buy-back and burn mechanism that allocates 30% of revenues from commission fees and artwork sales to burning tokens, the supply is continually reduced, potentially increasing value over time. Holding ARTFI tokens also provides benefits like early access to exclusive art offerings and participation in revenue distribution. As Artfi grows and generates higher revenues, the value of its tokens is expected to appreciate, reflecting the platform's success and offering long-term value to its holders.
So trade ARTFI on Bitget right now to get the first-mover advantage of a new art world!
How to Trade ARTFI on Bitget
Listing time: June 17, 2024
Step 1: Go to ARTFIUSDT spot trading page
Step 2: Enter the amount and the type of order, then click Buy/Sell.
Trade ARTFI on Bitget now!
Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.
