Wednesday, January 19

Particle, the community museum on blockchain to invest in works of art


Particle is a community museum built on blockchain that allows microfragmentation of the ownership of large works of art, using NFTs. Behind this gallery, built with the Avalanche smart contracts network, are big names from the art, technology, finance and mass consumer sectors. As is the case of Loïc Gouzer, former co-chair of Christie’s Post-War and Contemporary Art. Or that of Oscar Salazar, founder and creator of the first Uber prototype. Particle raised $ 15 million in seed funding and its investors include Voyager Digital, a cryptocurrency firm created by people with ties to Uber or Atrum, the company said in a statement. release.

Particle Museo

An economy and a market around art

What Particle is doing is creating an economy and a market around great works of art. It is a new community-based business model. Until now, the sale of expensive works of art was an activity only suitable for large collectors or large fortunes. Particle creators will purchase expensive physical artworks, tokenize them, and divide their ownership into non-fungible tokens (NFTs). The first chosen work is Banksy’s famous flower shooter: “Love is in the Air.” The painting was purchased for $ 12.9 million by Particle at an auction at Sotheby’s. The company explains that it will divide the work into 10,000 particles, which it will convert into NFTs so that they can be acquired by new micro-collectors.

Tokenization of goods and the necessary cryptoculturation of the middle classes

Every time someone purchases a particle (NFT), they will receive a digital certificate or collector’s card, which attests to the buyer’s ownership of the painting. Collectors will have the right to buy and sell their NFTs in secondary markets or transfer them to whoever they want, the company explains.

Meta Museo

The mission of Particle, which Salazar refers to as the foundation of a Meta Museum, is to acquire some of the most important works in the world and make them available to the Particle community. Salazar explains that Particle allows you to own masterpieces and interact with them through the internet and the physical world. The works acquired by this new museum will be kept in the Particle Foundation, which will be the organization in charge of maintaining and exhibiting the collection on behalf of the community.

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The Particle Foundation will function as a trust for the enjoyment of the Particle community, the company explains. The developers of the project also commit to creating a museum in the metaverse to house the collection. «Particle will donate 1% of the particles to the Foundation, which will guarantee that no one can claim possession of the physical painting. Finally, the Foundation will also receive a part of the income from royalties that contribute to this guarantee ”, the statement states.

The list of companies and industries that are already in the metaverses

Selling at Avalanche

Buyers interested in acquiring one of the 10,000 NFTs of Banksy’s work will be able to request them from December 13. As reported by artnet, they will sell for $ 1,500 each. In the meantime, they can sign up for a waiting list at www.particlecollection.com. The main NFTs sale of “Love is in the Air” will take place on the Avalanche blockchain during the week of January 10-14, 2022.

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