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.
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.
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.
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.
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.
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