How Does Artchain Prevent Fraud?
The traditional art market has one major problem: it’s highly susceptible to fraud.
Let’s look at it this way: oftentimes, it can be difficult to verify the authenticity of a work, especially with smaller galleries or independent vendors. This puts buyers at increased risk of buying fraudulent work. For those seeking to use art as an investment, this poses a fundamental issue.
Namely, how can you be sure that your investment will actually pay off? Unfortunately, the way the system is designed, it’s likely that you will have to pay significant amounts of money to have your artwork professionally examined for authenticity. This could mean a severe limitation on the amount of your investment.
Luckily, Artchain can prevent this. With a focus on specialized blockchain technology that can prevent fraud in the art market, we are helping investors everywhere make smarter purchases and protect their investments.
But how exactly do we do it? Let’s take a look at some of the features of our services.
· ArtDNA Fingerprint
Our blockchain technology serves to give each piece of art its own “DNA.” ArtDNA fingerprints make any artwork immediately recognizable and verifiable. This means that customers and investors never have to worry about the authenticity of prospective purchases.
For those looking to avoid fraudulent or forged art, being able to access this technological DNA is crucial to making a wise purchase. Through immediate verification, you can make smarter investments more quickly than ever before, and you can keep your money from flowing into fraudulent channels.
· Certified Art Origins
Here’s how it works: Artchain offers customers a chance to track art transaction history and verify its origins. This information is embedded in an individual artwork’s particular blockchain code. For customers, this has serious ramifications.
For starters, it means that investors can protect their funds from flowing into black market art channels. What’s more, Artchain technology lowers the overall cost of transaction fees, making art investment a more accessible and reputable market.
This can be seen in other ways as well. Notably, Artchain eliminates the need for external art verification, which can be costly. In effect, Artchain significantly reduces the need for and overall cost of appraisal, slashing thousands of dollars off the price of your investment.
· Protect Your Assets
For galleries, the use of our artcoin technology plays a large role in verifying and protecting existing and future assets. With Artchain, you will be able to market certified-original pieces and position yourself as a more attractive option for art investment.
Our ArtDNA technology allows owners to access a complete digital profile of a piece of art straight from their smartphones. In this way, owners and potential investors will be able to detect even the smallest changes in an artwork’s condition. Not only does this protect against fraud, but it also helps ensure the proper value of potentially altered or damaged pieces.
In this way, our technology offers owners the ability to create verified digital galleries that can increase investment potential and drive greater revenue. As such, Artchain should be viewed as the way to go for any investor or gallery looking to increase their investment or retail opportunities.