New technologies are actively invoked by the art market newcomers, since they are believed to help in fighting against the most problematic issues of the field. ArtRights is there to support the management and certification of artworks using the opportunities provided by blockchain. ArtLaw.club had a talk to the Founder and CEO of ArtRights, Mr. Andrea Concas.
- What is ArtRights about?
In a complex world like the Art one, made up of unwritten rules and shady areas, new technologies represent a support and an opportunity for its different players.
Art Rights is the first platform, with legal validity and a certain user, aimed at supporting the management and certification of artworks to protect Artists, Collectors and Professionals of the art world.
As a professional tool, Art Rights offers the possibility to manage, track and enhance your art collection, in complete security and privacy thanks to the Blockchain technology; this allows incorruptibility and decentralization of the entered information, encrypted data, with privacy protection thus safeguarding the entire art supply chain.
The platform, aimed at Artists, Collectors, Gallerists, Archives, Museums and Foundations, by respecting the roles, allows to create a value chain of the information entered, which receive third-party validations on a single request. Every single validation, when its accuracy is confirmed, is going to build up "the passport of the artwork".
- How does your platform support the management and the certification of the artworks?
Art Rights is a management system dedicated to art collections that allows the tracking and certification of the documentation accompanying an artwork, in order to verify its authenticity and to support everyday management.
Art Rights permit to enhance the information of the artwork, in all its life stages, such as handling, protection, fruition or sale.
Within the platform, thanks to the Art Concierge, users have the opportunity to select different consulting services offered by multiple professionals in the art sector (insurance, logistics services, art law, art advisory ...)
Art Rights is the professional tool supporting art and its players.
- Who can benefit from using the platform?
The platform, with due regard to roles and copyright, allows the individual user, in total privacy, to create a digital certificate with all the information related to provenance, technical features, value, authenticity, condition report, publications and any other details accompanying the work.
This information can then be validated by other verified users, who have been involved in the life of the work, confirming the information and creating a value chain to support the authenticity of the artwork.
The more validations received, the greater is the possibility that the work is actually authentic or attributable to the artist.
- Which blockchain protocol do you use (EOSIO, Ethereum, or other) and why?
Art Rights uses different protocols, thanks to an algorithm that operates with reference to traffic, timing and costs of information tracking.
- How many platform users do you have?
Currently Art Rights is by invitation only, with thousands of requests for membership from different users and from different sectors of the system and the art market, internationally.
This is a sign that change is necessary and we are looking for new professional tools to protect, safeguard and enhance artworks.
- Is it oriented on Italian audience or can it be used globally?
Art Rights is a platform operating at a global level.
It is a professional tool that knows no limits in its use by Italian or international artists, as well as for collectors, gallerists and for all other professionals.
- You are publishing a very interesting journal "uncovering the secrets of the art market". Tell us about its purpose and the team working on it. Are there art journalists and/or lawyers?
Art Rights Magazine was born to face common problems of the main player of the art environment, so as to know and acquire the tools to operate successfully in the system, further examining the dynamics that regulate the market.
The articles, the result of the knowledge of a team of experts including art historians, art advisors, gallerists, lawyers and experts in marketing and cultural communication, have a vertical cut and describe in a concrete and precise way a theme that interests our users.
In 2018 the whole Art Rights Magazine team has worked to develop tools aimed at deepening the knowledge of the dynamics that regulate the market. The results were gathered in three volumes of e-Book entitled "The Secrets of Art", very useful tools for artists, collectors and art professionals, which collect over 100 interviews of art galleries from all over the world and participants in art fairs such as ArteFiera Bologna, MIA Photo Fair and MIART.
The results obtained with the publication of the volumes were incredible, with thousands of downloads.
- What are your main competitors?
Art Rights is positioned transversely between the major management systems, professionals and start-ups operating with the Blockchain.
- Can you characterize generally the standing of the current Italian art market?
Report data, such as The Art Market 2018, show the numbers of an art market that has grown worldwide, amounting to over $ 63.7 billion and a volume of trade growth of 8% each year.
The online art market, which is growing, is worthy of consideration, amounting to over $ 4.2 billion, equal to 8% of the global market, and is expected to be almost double as a volume of trade by 2023.
At the moment, Italy in the "ranking" of global markets is the seventh in the art world, with a turnover that is only about 1.4%.
The latest surveys define the Italian auction market stable, with a total turnover of € 256.4 million of the twenty largest auction houses on the Italian national territory; furthermore, data on the growth of the online market are confirmed, without price limitations and which easily exceed € 5,000.00.
It is not a secret, however, that more than 1000 art galleries present on the Italian territory are struggling to remain open beyond 5 years of activity and this at the expense of younger collectors and emerging art, that seeks abroad an assertion that unfortunately they can not find, due to the low investment possibilities by gallerists that nevertheless seriously and professionally are trying to carry on their work believing in young Italian art.
There is a delicate balance between the parts to be maintained, but there are conditions for improvement, also thanks to a strong generational change in the various sectors of art that heralds new ways of approaching and developing the market, just think using social networks like Instagram to sell / buy art.
A real madness until a few years ago.
- What are the main trends and market expectations on the global level?
The art market, in its complexity, is full of economic reports that analyze the data arisen every year. However, professionals and the majority of players define the market as opaque, full of gray areas where there is no leak of information.
What emerges ever stronger, also as a result of my participation as a speaker at Deloitte's latest Art & Finance Conference in Luxembourg, is the pressing need to increasingly seek for precise analytical and management tools, able to compensate the lack of standards and uniform regulations.
Precisely the latest Deloitte Report has intercepted collectors, art and finance operators the three main threats affecting the reputation and functioning of the art market: authenticity, price manipulation and lack of transparency.
In the face of these problems, the technology comes to rescue, to ensure greater transparency in the art market, but always respecting the privacy of its players.
The same protagonists who, while using instruments like Art Rights in the future, are called to be part of what we can define as a "value chain" to guarantee trust in the art market.
Photos: courtesy of ArtRights