[ANN] [ART] Maecenas: First ever fine artwork to be auctioned on the blockchain!

[marco.polo.hodls]

After the successful Token Generation Event last year in Oct 2017 raising 50,744 ETH, Maecenas is gearing up for its beta launch! Andy Warhol’s 14 Small Electric Chairs (1980) will be the first ever fine artwork to be tokenized and auctioned on the Maecenas art blockchain platform from 25th July 2018!

Prospective participants must create an account with Maecenas in order to participate in the online auction. A limited number of users will be allowed to participate in the beta launch. The artwork will then be put on auction via a Dutch Auction process starting at 10AM CEST on Wednesday, 25th of July 2018, in which the final price per fractional unit will be determined by a Smart Contract. Both the initial sale and any subsequent buying and selling of these fractional units are tracked on a blockchain.

Andy Warhol (American, 1928 - 1987)
14 Small Electric Chairs Reversal Series
silkscreen ink and polymer paint on canvas
Dated 1980 on the overlap (reverse, upper left corner)
202 x 82 cm (79 3/4 x 32 1/6 in)

Up to 49% ownership interest in the painting will be made available for purchase in the auction. Part of Warhol’s acclaimed “Reversal” series, the iconic painting is currently valued at US$5.1M - US$5.6m. Buyers will be able to purchase digital certificates on the blockchain representing fractional ownership in the painting using cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) and Maecenas’ native cryptocurrency, ART. The final auction price for each painting share will be determined by a Smart Contract run on Ethereum, notably one of the fairest and most transparent pricing mechanisms to date on the blockchain. It is the first time that a work of art from an internationally renowned artist will be sold using blockchain technology.

Eleesa Dadiani, the founder of Dadiani Syndicate, will be auctioning 14 Small Electric Chairs by Andy Warhol on the Maecenas art investment platform.

"For the first time ever high-value, blue-chip artworks will be available for everybody to own utilising the unique technology platform developed by Maecenas. You can now own a piece of history! This is not a divisive strategy but a win-win for all. Beyond this, Maecenas and Dadiani are launching the world's largest and first tokenised art fund through the blockchain. This will simplify and expand art investment even further. Our shared vision is being implemented in the most exciting way - now we both look forward to embracing the resulting evolution of art investment.” - Eleesa Dadiani, founder of Dadiani Syndicate

If you would like to be part of this landmark auction please check out this step by step starter guide on how to sign up on their platform. If you have any questions feel free to ask them here or join their telegram group.

Press Quotes

“A new online marketplace that promises to give art lovers the chance to buy shares in famous paintings.” — The Telegraph

“Blockchain platform Maecenas democratizes access to fine art investment. It converts million-dollar artworks into smaller, financial units that can be bought and sold easily — literally at a fraction of the cost.” — International Business Times

“….could “guarantee” provenance documentation, validated by market players rather than a central authority.” — Financial Times

“Maecenas, an online marketplace that will enable art owners to sell shares in their expensive works of art (worth more than $1m) and raise money far more cheaply than they could through a bank.” — BBC

In the PRESS

• Maecenas was mentioned in the World Economic Forum Financial Monetary Systems Report 2018
• Forbes - Andy Warhol Art To Be Sold For Bitcoin Via Ethereum Blockchain
• Cointelegrah - Andy Warhol Painting to Be Sold via Blockchain in ‘World’s First’ Crypto Art Auction
  
• The Telegraph
• International Business Times - Why Blockchain Is The Future For Investing In Fine Art
• Wealth In Asia - New way to invest in fine art
• Maecenas was mentioned in the BBC
• Financial Times - Could blockchain help to block art market fraud?
• Quartz - A new Cryptocurrency art auction is selling shares in an andy warhol painting

Top 10 Benefits of using Maecenas

How the Maecenas machine works?

Videos:

• TV interview with CNBC where Marcelo explain how Maecenas democratises the art investment industry
• Maecenas Platform Sneak Peak

Articles:

• Maecenas Partners with Dadiani Gallery
• Maecenas partners with Thomson Reuters to Mitigate Financial Crime Risk
• How Blockchain can improve art provenance and why this is important
• Why ART Token?
• Why blockchain has the potential to change the art investment market for good
• How is Maecenas making the art market more accessible?
• How Maecenas adds value not hype to the art market
  

Click here to check out their Smart contract Code

Connect with Maecenas

[Potchii]

"first-ever artwork to be tokenised and to be sold using blockchain technology" Nice. I hope this project will be successful.

[BitPotus]

fair enuff for making art accessible to mere mortals.

but these fucking painitings aren't worth millions......

 

[marco.polo.hodls]

"first-ever artwork to be tokenised and to be sold using blockchain technology" Nice. I hope this project will be successful.

Thank you for your wishes! One of the few blockchain projects who are building real stuff.
Feel free to join their telegram to talk to the team/community!

[marco.polo.hodls]

fair enuff for making art accessible to mere mortals.

but these fucking painitings aren't worth millions......

 

Haha! Well the good thing about this auction is price discovery will be done by the open market as the tokens become tradeable on maecenas platform. So if it's really not worth millions or not, the community will decide just like bitcoins or anything else in the market. Blockchain will make the price fair and transparent

[marco.polo.hodls]

Looking forward to the auction results and performance. This could finally validate one of the many blockchain use cases 

Totally! Super excited to see the results! This is just the beginning IMO! Such auctions will keep happening resulting in excitement every now and then

[p3ppymon]

At last, something new has appeared in this forum. Well done devs.
I have a few questions: how do you source your masterpieces? I presume you bought a few or is the community holders willing to auction their pieces? On the basis of what parameter you fix the fee (which is quite low by the way)? Lastly, any major masterpiece you have available for the boom launch?

[marco.polo.hodls]

At last, something new has appeared in this forum. Well done devs.
I have a few questions: how do you source your masterpieces? I presume you bought a few or is the community holders willing to auction their pieces? On the basis of what parameter you fix the fee (which is quite low by the way)? Lastly, any major masterpiece you have available for the boom launch?

They source their masterpieces via private collectors and galleries who want to retain ownership of the artworks but see value in selling a percentage (up to 49%) to get some liquidity. They already have a very long pipeline of works from well-known artists.
Their fees are lower than the current art market fees as a result of the efficiencies achieved through the use of blockchain technology and an automated digital platform.

[Virtual-Money]

After the successful Token Generation Event last year in Oct 2017 raising 50,744 ETH, Maecenas is gearing up for its beta launch! Andy Warhol’s 14 Small Electric Chairs (1980) will be the first ever fine artwork to be tokenized and auctioned on the Maecenas art blockchain platform from 25th July 2018!

Prospective participants must create an account with Maecenas in order to participate in the online auction. A limited number of users will be allowed to participate in the beta launch. The artwork will then be put on auction via a Dutch Auction process starting at 10AM CEST on Wednesday, 25th of July 2018, in which the final price per fractional unit will be determined by a Smart Contract. Both the initial sale and any subsequent buying and selling of these fractional units are tracked on a blockchain.

Andy Warhol (American, 1928 - 1987)
14 Small Electric Chairs Reversal Series
silkscreen ink and polymer paint on canvas
Dated 1980 on the overlap (reverse, upper left corner)
202 x 82 cm (79 3/4 x 32 1/6 in)

Up to 49% ownership interest in the painting will be made available for purchase in the auction. Part of Warhol’s acclaimed “Reversal” series, the iconic painting is currently valued at US$5.1M - US$5.6m. Buyers will be able to purchase digital certificates on the blockchain representing fractional ownership in the painting using cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) and Maecenas’ native cryptocurrency, ART. The final auction price for each painting share will be determined by a Smart Contract run on Ethereum, notably one of the fairest and most transparent pricing mechanisms to date on the blockchain. It is the first time that a work of art from an internationally renowned artist will be sold using blockchain technology.

Eleesa Dadiani, the founder of Dadiani Syndicate, will be auctioning 14 Small Electric Chairs by Andy Warhol on the Maecenas art investment platform.

"For the first time ever high-value, blue-chip artworks will be available for everybody to own utilising the unique technology platform developed by Maecenas. You can now own a piece of history! This is not a divisive strategy but a win-win for all. Beyond this, Maecenas and Dadiani are launching the world's largest and first tokenised art fund through the blockchain. This will simplify and expand art investment even further. Our shared vision is being implemented in the most exciting way - now we both look forward to embracing the resulting evolution of art investment.” - Eleesa Dadiani, founder of Dadiani Syndicate

If you would like to be part of this landmark auction please check out this step by step starter guide on how to sign up on their platform. If you have any questions feel free to ask them here or join their telegram group.

Press Quotes

“A new online marketplace that promises to give art lovers the chance to buy shares in famous paintings.” — The Telegraph

“Blockchain platform Maecenas democratizes access to fine art investment. It converts million-dollar artworks into smaller, financial units that can be bought and sold easily — literally at a fraction of the cost.” — International Business Times

“….could “guarantee” provenance documentation, validated by market players rather than a central authority.” — Financial Times

“Maecenas, an online marketplace that will enable art owners to sell shares in their expensive works of art (worth more than $1m) and raise money far more cheaply than they could through a bank.” — BBC

In the PRESS

• Maecenas was mentioned in the World Economic Forum Financial Monetary Systems Report 2018
• Forbes - Andy Warhol Art To Be Sold For Bitcoin Via Ethereum Blockchain
• Cointelegrah - Andy Warhol Painting to Be Sold via Blockchain in ‘World’s First’ Crypto Art Auction
  
• The Telegraph
• International Business Times - Why Blockchain Is The Future For Investing In Fine Art
• Wealth In Asia - New way to invest in fine art
• Maecenas was mentioned in the BBC
• Financial Times - Could blockchain help to block art market fraud?
• Quartz - A new Cryptocurrency art auction is selling shares in an andy warhol painting

Top 10 Benefits of using Maecenas

How the Maecenas machine works?

Videos:

• TV interview with CNBC where Marcelo explain how Maecenas democratises the art investment industry
• Maecenas Platform Sneak Peak

Articles:

• Maecenas Partners with Dadiani Gallery
• Maecenas partners with Thomson Reuters to Mitigate Financial Crime Risk
• How Blockchain can improve art provenance and why this is important
• Why ART Token?
• Why blockchain has the potential to change the art investment market for good
• How is Maecenas making the art market more accessible?
• How Maecenas adds value not hype to the art market
  

Connect with Maecenas

im seeing a great future for this project, do you have an airdrop prepared for this project?

[marco.polo.hodls]

im seeing a great future for this project, do you have an airdrop prepared for this project?

No airdrop planned as of now.

[marco.polo.hodls]

Heard the auction starts today. Is there a way that I can monitor the auction without participating? Really interested how it works

You can check out their Smart contract Code - https://github.com/MaecenasArt/Dutch-Auction/blob/master/DutchAuction.sol

[Wandaline]

Will this project become an avenue for up-and-coming artists in the future? Or only for established artists and their works?

[Rosa bella]

This is a great project. When are you going to list on exchanges and what are they?

[AmoreJaz]

fair enuff for making art accessible to mere mortals.

but these fucking painitings aren't worth millions......

 

Haha! Well the good thing about this auction is price discovery will be done by the open market as the tokens become tradeable on maecenas platform. So if it's really not worth millions or not, the community will decide just like bitcoins or anything else in the market. Blockchain will make the price fair and transparent

bottomline is, only the dev team will gain huge money from this. they already raised thousands of eth, yet they are still getting money from these auctions.
people will own a very small fraction of that art but reality check he can never own that art. they are just mere traders of this token. dont dream that one day, you can get a glimpse of the painting or hold it in your hands. just saying

[BatGirl102993]

You can check out their Smart contract Code - https://github.com/MaecenasArt/Dutch-Auction/blob/master/DutchAuction.sol

[tarayqueen]

I would like to know if there will be a secondary market for the artwork shares. If it will not be possible to sell shares, it will be a very illiquid investment, right?

[BatGirl102993]

Is there a mechanism for a painting sold for ART to be resold to a single owner. Eg. someone buys shares in the Warhol but loses the private key, how can a future investor fully own the piece?

[tarayqueen]

How many Art Token do I get with 5.000 USD? & How the exchange rate between USD and Art token is fixed? How are calculated the transaction costs?

[tarayqueen]

Is there a blockchain showing me the information about authenticity? Im too curious about this and It will be possible for buyers to see the artwork physically after the sale?TIA =)

[DrexzKirby03]

When can we expect a YouTube video? When?