Saturday, March 2

Blockchain Platform with Provenance and NFTs of Consecrated Artworks Collections

Initial collection has 5 important world collectors and other relevant collections under negotiation. Works by artists such as Francisco de Goya, Salvador Dali, Jean-Michel Basquiat, Pablo Picasso, Constantin Brancusi, Fernando Botero, Tarsila do Amaral, Candido Portinari, Di Cavalcanti, Antônio Bandeira among others will be on the platform with the entire process of validation of the works transparent and open to the community.

A Cry (“Crypto Gallery”) technology and art company will launch the first platform of Provenance and NFTs with works by world-renowned artists, providing all documentation, expertise, provenance and artificial intelligence analysis, with all records on blockchain.

The project was built to be the largest specialized and decentralized platform for trading, registering and authenticating works of art (physical and NFTs) with a transparent process and community support at all stages.

All platform services are accessed via their own token ($cry) that also serve to reward and encourage users who actively participate in the ecosystem.

The business model is divided into two parts. The first is the tokenization of works of art, which includes the service of analysis and registration of the works, which in addition to documents, expertise and provenance, also has artificial intelligence algorithms to complement the score of each analyzed work.

The analyzes and certificates issued will be charged, the option of negotiating the work will be at the discretion of the collectors, who can even choose in which format they want to negotiate: the physical work and/or digitization via NFT.

The second part is made by the NFTs marketplace, an environment with a wide diversity of works, without data congestion and with security for users.

No roadmap of Cryga is the construction of its own metaverse that will be composed of several virtual spaces for the exhibition of works, contemplating commercial interests, but also educational ones about art history.

About NFTs, the model offers exclusivity for those who purchase the NFT. The first is the exclusivity of being the sole owner in the world of the digitized work – only 1 NFT will be made per physical work.

The second is the priority in the acquisition of the physical work, if it is put up for sale, the owner of the NFT will be the first to receive the purchase offer, thus avoiding any auction and guaranteeing a minimum premium on the launch price.

The platform will allow 2 trading models:

  1. Exclusive acquisition of the NFT in the primary market;
  2. Division of the NFT into smaller parts with resale on the secondary market;

This fractionation may be carried out by the owner of the physical frame – original pitcher, or by the purchaser of the exclusive NFT. With this it will be possible for people to own fractions of the digital work, making it possible to invest in the world of consecrated art in artists such as Francisco de Goya or Jean-Michel Basquiat.

The company’s work started almost 2 years ago. The first challenge was to find out who are the great world collectors and what are the main problems of this extremely centralized and restricted market. Collectors are spread around the world, cultivating, above all, their privacy.

The second challenge was to get a channel of communication and explain the project to each one of them, and time is not something that people at this level have to spare. The adhesions were built one by one following artistic criteria of variety and quality of the works.

With the increasing interaction between the physical and virtual world, NFTs have gained a lot of space reaching trading volumes in the billions of dollars. These transactions take place with assets that show strong appreciation and therefore increasingly attract people’s attention.

Assets gain their digital versions and prices begin to reflect this relationship between the two worlds. The possibility of seeing a work of art in very high quality, without leaving the comfort of your home and without facing any kind of limitation such as queues, distance from the works, etc… makes the appreciation of art in the virtual world gain space and people’s interest.

Cryga has advanced conversations with several other collectors and institutions, both from the financial market and the arts market, to carry out new steps and projects. And it has an advisory board with important personalities from the art world and the digital world.

Considering the different ways of generating revenue within the platform, the current collection of more than 5,000 works and a value of around US$2 billion, the platform is valued at more than US$1.5 billion. This is the strength of the digital, decentralized and cryptographically supported marketplace, and we are only at the beginning of this transformation.