Albert Einstein once said:
Creativity is intelligence having fun.”
The founders of All Public Art had some fun with their intellect and came up with a creative idea: utilizing blockchain technology to create a peer-to-peer, counterfeit-free, transparent art marketplace.
Counterfeiting, fraud, and intermediary price manipulation have plagued the art industry for centuries. But thanks to that new technology that’s been transforming our world as we know it, blockchain is revolutionizing the art world as well.
As their website states:
All Public Art’s implementation of blockchain technology will minimize counterfeit art, build trust within the art market, improve art trade services and increase economic and social benefits in the global art community.
Beyond that, All Public Art aims to be a positive force in the art community by empowering artists and art collectors with a platform where they can directly engage with each other without any middleman (in this case, art galleries, auctioneers etc).
All Public Art’s Crafty Features
Buyers and sellers using All Public Art can enjoy complete transparency during trades, as all deals are carried out using smart contracts. This brings trust and security to the art trading process, while also reducing additional transaction costs and increasing efficiency, as there are no third parties involved at all.
All transaction details—with the exception of artists’ and collectors’ identities, so as to maintain privacy—are publicly available and cannot be manipulated by any person or organization. This aids in the security of transactions and allows other potential collectors to view the history of the artwork.
All Public Art allows artists and collectors around the world to conduct their own fair transactions without having to rely on any intermediaries. This new platform is thus putting the power back into the artists’ hands while also connecting the global community of art lovers together in one place.
The APA Token
The APA token will be used for all transactions taking place on the All Public Art platform. Artists will list their artwork for the exact amount of APA tokens that they wish to trade the artwork for.
Once a collector decides they want to purchase the artwork, they simply click the “Acquire Artwork” button and the trade process is initiated. The collector’s APA tokens will be transferred to a temporary address and locked down until the artwork is confirmed as received. Then the APA tokens will immediately get transferred to the artist. They may then exchange the APA tokens for fiat currency or other digital currencies.
A maximum of 800 million APA tokens will be created, with no more than half of that to be sold during the token sale—400 million APA tokens, worth $30 million, will be available for purchase during the ICO.
The token pre-sale will begin on February 12, 2018. The minimum contribution during the pre-sale is $10,500 worth of ETH, unless you are a registered artist, in which case the minimum is only $15 worth of ETH.
There will be bonuses issued to investors during the pre-sale as detailed in this chart:
Early participants will receive bonus tokens of up to 40% to reward them for joining earlier. The maximum APA tokens an individual is allowed to purchase is $1.25 million worth of ETH.
The funds generated during the ICO will be allocated in this manner:
To participate in the All Public Art’s token pre-sale, simply go to the All Public Art website. You will need ETH to purchase APA tokens.
Help Transform the Global Art Market
The online art market is growing at an annual rate of 24% and is expected to reach $9.58 billion by 2020. The All Public Art platform is perfectly poised to dominate this quickly growing market with their blockchain-based marketplace.
If you’re an art lover and a blockchain enthusiast wishing to get involved in transforming the global art market as we currently know it, All Public Art could be a very worthy cause to invest in.
The APA platform isn’t meant just for artists and art collectors; All Public Art also hopes to create a stronger community of art supporters. Art lovers as well as patrons and fans of artists can get directly involved in the art process by tipping their favorite artists using APA tokens. The artists simply need to share their wallet address on social media or share that information with their fans, in order to receive APA tokens in support of their work.
Whether you decide to invest or not, All Public Art is sure to be a huge blessing to artists and art enthusiasts all over the globe, forever changing the global art market to be more decentralized, transparent, secure, and convenient for all.
To learn more about All Public Art and their token pre-sale, visit https://allpublicart.io/. You can also read the All Public Art whitepaper to get the full picture and learn of all the exciting details about the platform.