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Equisafe Tokenized Its First Piece Of Physical Art On Tezos With Fractionalized Ownership

Equisafe has now introduced a new concept to Tezos: tokenizing a physical piece of art and fractionalize the ownership. The first step was to mint the art piece as NFT on the Tezos blockchain. The second step is to mint a supply of tokens that are bound through a smart contract to the minted NFT.

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Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

Physical Art Tokenization & Fractional Ownership

We’ve seen a lot of platforms and artists that sell high-value art or selling large numbers of the same NFTs. Some artists also sell physical art combined with an NFT as proof of ownership registered on the blockchain.

Equisafe has now introduced a new concept to Tezos: tokenizing a physical piece of art and fractionalize the ownership. The first step was to mint the art piece as NFT on the Tezos blockchain.

The second step is to mint a supply of tokens that are bound through a smart contract to the minted NFT. This way you don’t buy an NFT, but you buy a fraction of an NFT. If the supply is 100 tokens, and you own 3 tokens, you own 3% of the NFT and thus 3% of the physical piece of art.

Tokenization Of Assets

Let’s first introduce Equisafe. The Equisafe platform is a platform that is designed to be able to trade STO’s on the Tezos blockchain. Equisafe was the first to tokanize real estate on the Tezos blockchain on March 2020.

STO is short for Security Token Offering. STO’s are tokenized assets. This means that the value of the asset is represented by tokens that are registered on a blockchain. These Tokens are classified as a “Security”, which are assets that are strictly regulated.

For these type of tokens, all limitations that are necessary to comply with regulations are registered and enforced on the blockchain through sets of smart contracts.

This means for example, that anyone that wants to trade STO’s will need to register and verify his or her identity. Therefore, all users of the platform need to go through a registration process (KYC “Know Your Customer” and AML “Anti Money Laundering”).

Although KYC and AML might not be the preference of everyone, the Equisafe platform does offer legally binding ownership of an STO.

The biggest current use case of STO’s is tokenized real estate which entitles the owners of the STO to revenue from rental income.

Tokenizing real estate means that people with a low budget can now enter the real estate market without the need to acquire a full property. More about STO’s here.

Why Tokenize Art?

First of all, the tokenized art is not a security. Tokenized art simply offers another type of asset to the Equisafe platform. The tokenization of the asset offers the same type of advantages as it does with tokenized real estate for example.

You can now own a part of an art piece that is valued way above your price range. You could own a piece of a Rembrandt or Van Gogh painting if they would be tokenized for example.

The Event

On June 1st, L’association Pour Que Marseille Vive and Equisafe minted and tokenized an artwork work by the Marseille artist Deniz Doruk. The event took place at Château Promicea in Marseille, France with the attendance of ~150 visitors.

On June 19th, a new tokenized work by a Marseilles artist will be unveiled and offered for sale at L’association’s next exhibition.

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

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