Artrade is a groundbreaking platform in the art market that introduces a transformative approach to how art pieces are valued, authenticated, and traded.
The platform integrates the advantages of blockchain technology and NFT to address significant challenges in the art market, such as authenticity, liquidity, and transparency. Artrade claims to be the world's first market for RWA, going beyond the usual tokenization process found in conventional NFTs.
Token Real-World Asset (RWA) refers to tokens representing physical or non-physical and real valuable assets. These tokens are made possible through smart contract technology and are transacted transparently on the blockchain.
By doing this, it simplifies the recording of digital certificates for physical art pieces, including paintings, sculptures, videos, and music. This also facilitates tracking trading transactions for these art pieces.
Implementing NFT technology on Real-World Assets, Artrade claims that this method not only enhances market liquidity but also offers a seamless experience for creators and investors, reducing common issues like high token issuance costs and environmental impacts typically seen in traditional art trading platforms.
When it comes to tracking and authenticating physical art pieces, Artrade utilizes NFC technology, where the frequency chip is attached behind the canvas of a painting, for example, which can be referenced to the smart contract (token) on blockchain. In this case, Artrade uses the fast and low transaction cost Solana blockchain.
Artrade claims that its digital platform experienced rapid growth last year, with an 873 percent increase in ATR token transactions on its platform.
Empowering Artists and Collectors with ATR Tokens
At the core of the Artrade ecosystem is the ATR token, which serves not only as a medium of exchange but also as a means for community engagement and governance. Token holders can influence platform development through voting, encouraging active participation.
By staking ATR tokens, users can earn rewards annually. There is also a daily buyback program for ATR tokens to enhance ecosystem stability and encourage investor confidence.
The Power of the REAL Artrade Protocol
To strengthen the concept of tokenizing Real-World Assets on Artrade, the platform is equipped with the Reliable Electronic Artwork Ledger (REAL) protocol. This approach ensures significantly lower transaction costs, at just 5 percent.
The REAL protocol, applied on the Solana blockchain, ensures secure, tamper-resistant, and transparent transactions, addressing challenges in certifying physical art pieces on the blockchain. Each artwork is linked to an NFT through an NFC chip that guarantees its authenticity, creating an immutable digital twin integrated for the artwork's identity.
