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

[ecka_26]

 Hi guys! How many shares exist for the artwork? How many tokens are capped?

[Beahelm]

Well, this thing looks very suitable for my investment strategy. But I have some questions

[Monkey_Thinker]

Well, this thing looks very suitable for my investment strategy. But I have some questions

I think it is a right place to ask

[Beahelm]

Well, this thing looks very suitable for my investment strategy. But I have some questions

I think it is a right place to ask

I just want toknow what is the major difference from usual auction if I wanna to buy, for example, the whole painting?

[BatGirl102993]

If someone were to tokenize the shares of a piece of art (Lets say an Andy Warhol painting).  Who has physical possession of that piece of art?  Who is in charge of taking care of it?  Does Maecenas take possession of the piece?  What happens if that piece of art is stolen or damaged?

[Doktilar]

Well, this thing looks very suitable for my investment strategy. But I have some questions

I think it is a right place to ask

I just want toknow what is the major difference from usual auction if I wanna to buy, for example, the whole painting?

you're really gonna buy whole painting?

[ViaMani]

Any chance project team is making some sort of  interview with team members to boost an investor confidence and to share their vision of maecenas goals?

[tarayqueen]

 Is the ART used for the smart contracts returned as fees to Maecenas?

[Captain_Jack_Sparrow]

Hi, I have one question: how the Maecenas trade platform will work?

[Beahelm]

Well, this thing looks very suitable for my investment strategy. But I have some questions

I think it is a right place to ask

I just want toknow what is the major difference from usual auction if I wanna to buy, for example, the whole painting?

you're really gonna buy whole painting?

Like I said - just asking. Not Warhol, but maybe I want something else.

[Monkey_Thinker]

Well, this thing looks very suitable for my investment strategy. But I have some questions

I think it is a right place to ask

I just want toknow what is the major difference from usual auction if I wanna to buy, for example, the whole painting?

you're really gonna buy whole painting?

Like I said - just asking. Not Warhol, but maybe I want something else.

seems too overconfident, but yes, i think, you can just buy all shares. if you need, of course

[marco.polo.hodls]

Hi guys! How many shares exist for the artwork? How many tokens are capped?

Hello ecka, One million in total represents 100% of the artwork. So cap would be at 490K shares as max 49% shares can be sold.

[marco.polo.hodls]

If someone were to tokenize the shares of a piece of art (Lets say an Andy Warhol painting).  Who has physical possession of that piece of art?  Who is in charge of taking care of it?  Does Maecenas take possession of the piece?  What happens if that piece of art is stolen or damaged?

It’ll be stored in freeport (Refer: http://lexicon.ft.com/Term?term=freeport). Warhol won’t leave the freeport straight away but it is on its way to achieve freedom. Freeports have a very tight security so public viewing won't be possible, only for investors and guests of investors. However, the artworks could be leased out to museums for public viewing, for a fee, which will then be paid as dividend to investors.

[marco.polo.hodls]

Well, this thing looks very suitable for my investment strategy. But I have some questions

Hey Beahelm, fire it away if you have any questions. You can also join our growing telegram community
https://t.me/maecenasart

[marco.polo.hodls]

Hi, I have one question: how the Maecenas trade platform will work?

Hello Captain Jack. Let me give an example:

Let’s say there’s only 100 shares available.

A bids to buy 10 shares at $200 each. B bids to buy 150 shares at $50 each.

The Dutch auction algorithm will find the best price per share. There’s many algorithms, but the simplest one is to pick the lowest price that sells all the shares.

In our example that price is $50. So A gets 10 shares at $50. B gets 90 shares at $50 each. A tried to pump up the price but failed. However, since A’s bid was higher than B’s, A is first in line to be allocated the shares.

Now, say if instead, A had bid $11 for 100 shares and B had bid $10 for 100 shares. Even though the winning price is $10, it is A who will get all the shares. So there’s an incentive to bid higher to get priority in the line. But at the same time you’ll still be awarded a fair price.

You can also check online for more examples on how dutch auctions work.

[Bumper_Butt]

But I wonder how can I earn money using your platform?

[TwinBird23]

An open, agile platform can energise art markets and bring millions of investors off the sidelines. Thanks a lot, devs are true geniuses

The team will be very happy to hear it.
Maecenas offers the most competitive costs in the art market, and the Maecenas Platform makes it possible to build and manage liquid portfolios that are supported by art, thus eliminating the costs associated with investing in physical art.

[Ggolcoy]

I think it is great to build blockchain art auction on crypto and provide real people with all information and proper price discovery mechanisms.

[Hucama]

It would be nice to widen art collection with good old Andy. And no needs to worry about my funds

[Captain_Killer]

It would be nice to widen art collection with good old Andy. And no needs to worry about my funds

Are you going to invest?