Creath is leading change with ArtTech through blockchain innovations

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The combination of technology and art is commonly referred to as ArtTech. In recent years, there has been a significant overhaul of traditional art methods and increased use of technology in the art world.

An example of such is the emergence of digital art marketplaces. Unlike conventional art galleries, digital art galleries and marketplaces can reach a wider audience without needing a physical location.

Another noteworthy application of technology in art is the use of blockchain. Blockchain solutions are changing how collectors transact with artists and galleries. Thanks to distributed ledgers, it has become easy to authenticate the ownership of artworks, enhance transparency, and discourage forgery.

Some critical issues are associated with the art industry’s traditional way of doing things. Forgery is one of these issues. Extremely successful art auctioneers, like Sotheby’s, who have sold some of the most valuable artworks to the wealthiest collectors, have been dealt severe blows by elaborate forgeries.

In 2011, Sotheby’s and Fairlight Art Ventures sold a Frans Hals painting to Richard Hedreen for $11.75 million. Originally believed to be authentic, the artwork was later discovered to be a fake that Giuliano Ruffini sold to Fairlight Art Ventures and Mark Weiss in 2010.

The discovery of the forgery five years later led to the involved parties battling each other in court. A case like this shows the damage forged art can do to trust and credibility among artists, collectors, and galleries. It is problems such as these that blockchain solutions aim to fix. With blockchain technology, artists are rightfully paid for their work, collectors are guaranteed the authenticity of art, and forgery is eliminated.

Blockchain technology provides an advanced way to keep and secure records. Creath, a leading provider of innovative blockchain solutions, is unlocking the full potential of blockchain technology to drive growth and efficiency in the art industry.Creath’s art marketplace is undoubtedly the solution to many problems facing the art community today.

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