Artrade, the first art tokenization marketplace on Solana, has reached a significant milestone by digitizing an original Picasso artwork. With a market capitalization of $180 million and over 6,000 active users, the platform is transforming the art market with its ATR token.
Artrade: A Marketplace Innovating Digital Art
Artrade, the platform enabling artists to convert their physical creations into Real World Assets (RWA) on the Solana blockchain, has set a groundbreaking precedent by announcing the first tokenization of an original work by Pablo Picasso.
Since its initial fundraising round of $7 million in 2021, Artrade has built a functional marketplace with more than 6,000 regular users, reaching a market capitalization of $180 million in January 2024.
Artrade’s technology is anchored in its REAL protocol and the use of NFC chips, which enable the seamless conversion of physical artworks into digital assets while ensuring fail-proof traceability between the physical piece and its digital representation.
The platform’s catalog has expanded to include works by renowned artists and brands such as Kaws, Medicom Toys, Bearbricks, Swatch x Omega, Banksy, Warhol, Basquiat, Pokémon, Louis Vuitton, Kith, Bape, Daniel Arsham, and Disney. Each piece is secured by the REAL protocol.
Decentralized Governance That Rewards Its Community
On the technical front, Artrade integrates Web3Auth, allowing users to create accounts via Google. The platform also features an in-app wallet and a community-driven token burn mechanism for ATR, with weekly burns determined by user votes.
Artrade’s DAO governance operates through a participatory model, where the community votes to select the artworks to be tokenized. These pieces are then exclusively listed in ATR on the marketplace, generating revenue that is redistributed to token holders.
The staking program offers three strategic tiers:
- Supporters: A minimum of 25,000 ATR provides 15% APY and a 10% discount.
- Sponsors: Starting at 100,000 ATR, this tier offers higher benefits.
- Ambassadors: Investing at least 250,000 ATR grants 25% APY and a 30% discount on artworks.
Artrade’s economic ecosystem includes a 5% transaction fee, an incentive program through the DAO, and discounts for stakers. These mechanisms adapt to the platform’s adoption rate, with the ultimate goal of optimizing the tokenization of artworks.
To drive growth, Artrade has launched the “ATR Army” initiative. Funded by the DAO, this program rewards the creation of high-quality content, which is rigorously verified manually.
Artrade is reshaping the art market by creating a robust bridge between the physical and digital worlds. With its cutting-edge blockchain technology and innovative economic model, the platform is positioning itself as a major force in democratizing art and driving the NFT revolution.
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