How Blockchain Can Help Artists?

Posted by Adnan Hassan on February 20th, 2019

Are you thinking of how blockchain can be beneficial for artists? For creating content or artwork, every artist puts in a lot of effort. Surely, they want to sell their work, but they want anyone else using their art without permission.

All of their efforts go to waste when their work is copied without authorization. This not only decreases the value of their art, but it also endangers their reputation. Blockchain technology was established in 2009 as the technology behind Bitcoin. Soon, it was used in industries and improved the performance and productivity of the industries.

When it comes to the art industry, blockchain is great for buyers and investors. It will help them track the origin of the artwork and make sure it is original artwork. However, the benefits of blockchain are not limited to buyers and investors only, it is beneficial for artists as well.

Here is how blockchain technology is helping artists.

Funding System

One of the ways through which blockchain helps artists is by raising capital for their venture. There are many platforms raising money using ICO. In this way, the stakeholders are offered art token in exchange for their investment in the artwork. Sometimes, they provide shares of the artwork to people so they can get a return on investment.

Smart Contracts

The blockchain technology provides smart contracts that are useful for giving fair profits to everyone. The electronic agreement is capable of dividing the profit correctly according to their contribution. So, artists and shareholders will not have to worry about not getting fair revenue. Moreover, it speeds up the process of payments. This means you will not have to wait for a long time to get your payment.

Transparency

Another way blockchain technology is helping artists gain more is by offering transparency in transactions. The blockchain as a distributed ledger that is shared with everyone. The information on the blockchain cannot be changed or corrupted. So, you can rest assured the information is authentic and correct.

Additionally, it will allow the artist to keep a track of all the transactions and know how they are generating from the artwork. This will enable the artists to track all the relocations and movement of their artwork. It is a great way to prevent illegal sales of their artwork.

Piracy Protection

Blockchain will enable the artists to protect their artwork or ICO art through recording all the data from the start. It allows the artists to safely and securely exchange their assets with their customers. This eliminates the risk of artwork being copied or used without permission.

All in all, Artchain is a great platform that helps artists protect their artwork and make sure they are getting fair revenue. It will enable the artist to offer art token in exchange for funds. It also provides a transparent environment in which copying the artwork is not possible. This platform makes the art industry information available for free. Blockchain technology is crucial for artists because it will help them track every transaction and make transactions transparent and secure.

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