ArtsCoin (ART) Network Ethereum Based ICO

[ArtsCoin (ART)]

ArtsCoin (ART ) proposes an Ethereum-based asset-backed 'initial coin offering' (or ICO). The art-backed tokens (ART) will have an initial face value cost equal to $1 with a maximum cap of 100,000,000 tokens. Token will represent ownership of $1 worth of the physical ART. The ART will be securely held in one or more suitably tailored locations. The offering will be pre-seeded with hundreds of works of art by listed artists (via founder/investor funds) - generally from the Modern American Art Genre of the 1930’s – 1960’s (some artwork exceptions might apply). New ART tokens will be minted commensurate to the future purchase of artworks. Network ART token shareholders will receive a portion of the generated profit of the ART network. Additional shared profit to the ART network can be realized by user generated transaction fees on the ART Network and by other means.

[Vova.vova]

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[francojon]

I fail to find a good business proposition in this ICO. Have you done your research in order to see if it is a Scam or are you just promoting it here, in this section.