Modern technologies allow for the art market to become accessible not only to UHNWI, but to the general people as well. Introduction of blockchain made fractionate investment possible and this is how each of us can own the part of a valuable piece with full guarantees of authenticity.
ArtLaw.club is having a talk with Ms.Anaida Schneider, the founder and CEO of the TILCOIN project.
- What is TILCOIN? What marks it out?
Tilcoin is unique international project, uniting innovation of blockchain platforms and investment potential of the contemporary art market. More precisely, this is an opportunity to participate in transmitting a separate art object into the dimension of the blockchain. By democratizing art, we make it accessible to everyone. How? We virtually divide the art object into numbered fragments and invite the investor to become a co-owner of its seriography (high-quality stencil print) of one or several fragments. Also, the Tilcoin project marks out that our partners are large international companies in the field of cyber security, compliance, insurance and other areas. Initially, it was conceived that the project partners should be significant companies in the world in their areas of expertise.
- What were the preconditions for you to initiate and create the blockchain-based project?
Having a financial education and experience in the financial sector in Switzerland and at the same time I am a small art and antique collector, I came up with this project in order to unite and realize my professional knowledge and hobby. Visiting auctions, I came across, including by personal example, that it was not always possible to acquire and become the owner of an art object. On the basis of this, the idea of the project was born. It was back in 2016.
- How did you form your team?
I still form my team. Unfortunately, there are many who want to work in this industry, but few can really show the result. Therefore, you have to constantly look for qualified staff with the desire and ability to work. But staff turnover does not affect the speed and quality of project implementation. Over the 9 months since the launch, we have fully implemented the project and in the winter of 2019 we are planning a listing on a crypto-exchange on one of the top 5 list.
- What are the opportunities TILCOIN is providing?
By purchasing a serigraphy of a fragment of picture, investor will get access to the TILCOIN project, where you can participate in a various master classes, virtually and not only, attend exhibitions and events, and invest in art to your advantage. In addition, each token is provided with a buyback option, which means it can be resold. After purchasing of a seriography of fragment, you get a token TLC that confirms your ownership. For clarity, you can print the serigraphy of the picture, put it in a frame, hang it on a wall or put it on a desktop and at the same time - monitor the exchange rate of the token on the crypto-exchange after listing.
- Who are the main users of your project?
Here we noticed a different audience. These are art lovers, people from the business community, housewives, cryptoinvestors and just those who want to make money without getting into the essence of the project. Even those who are just looking for an original gift for beloved ones.
- Are you working with the primary or secondary market? Why?
Both, primary and secondary markets. Having in mind that we want to hold our token for a long time. Tilcoin is a long-term project.
- Do the works available for purchase come from your gallery (at the time of sale are owned by TILCOIN)? Do you offer for sale the whole artwork or a part of it?
Yes, all art objects are in the ownership of the project. Only 49% of 100% numbered fragments are available for purchase.
- How do you choose and verify the artworks, galleries, artists?
We buy art objects directly from artists, or heritors, or from collectors. We buy those art objects that have investment potential. All works of art pass expert review by leading experts for authenticity.
- Where the purchased artwork might end up after the purchase – museum, your gallery, elsewhere? What happens to it after the pool of investors purchases the work?
We plan in 2019 to open a gallery at the place of registration of the company, namely in Liechtenstein. In the gallery and in the future on our marketplace platform (coming mid of 2019), we plan to sell various art products. Token Tilcoin (TLC) will be one of the important elements of the marketplace platform. A detailed business model of the project will be presented to the investor in the near future and posted on the project website.
- How an investor can sell its part? Is it possible to sell the work only within the ecosystem of TILCOIN, or beyond that as well? Who establishes or what effects the sale price in this case?
The token can be sold soon on a crypto-exchange. A fragment of the canvas can be sold in the near future on our marketplace platform, like other art objects. It will also be the most informative platform of museums and galleries in the art world.
- What are the technical prerequisites the potential investor must have to be able to participate in the project? (should there be crypto wallet, special software, anything else?)
Just a desire in the first stage and funds on second. After that, of course, crypro wallet is required.
- What is a TILCOIN token? Should any payments be mandatory done by cryptocurrency?
In the future, we plan to make TLC token from utility to the status of a security token, and in the mid-term future we will work on a payment system, e-money. I hope all our ideas will be implemented.
- Why have you chosen Etherium blockchain for your project?
For three reasons: the first is the speed of the implementation of the platform , the second I knew Etherium platform very well and the third reason is the price of creating the project with Etherium system was attractive to me.
- Which services are already available and what is still in process? Do you already have any statistics on participation, engagement, interest of the audience?
As I already mentioned above, the project is fully implemented, and now we are in the stage of the technical integration of the token in a crypto-exchange. Functions of Tilcoin platform have many different elements, search for a fragment by number, on the canvas, an increase in the excellent depression of the canvas. The function to print the acquired fragment or save. In the near future coming more new services.
We have above 18.000 registered person in the project and above 9.000 token holders. We carefully made our PR company, since there were already clone sites that would discriminate our project, there are also private individuals who give out my idea as their ideas. A bit funny to look at. As it turns out, it is easier to steal an idea than to invent one by yourself.
- Where the TILCOIN project is located?
In the principality of Liechtenstein. IT team is in Russia.
- Why have you chosen this particular jurisdiction? (According to the Q&A, your company is a tax agent in Russian Federation, but registered in Liechtenstein)
It is not true. As I said, in Russia there is the IT team. The project itself is registered and based in Vaduz, Liechtenstein. Liechtenstein is very positive for blockchain projects area, with the most loyal blockchain law and banks to this industry. Also the love of the royal family of Lichtenstein for art did make me choose the jurisdiction for the project for fast. Especially I live in Switzerland and the road from home to work does not take much time.
- Is your company licensed under any Financial Regulator? What does your license mean in practical terms? Which powers/authority does it give?
Yes. All licenses of Liechtenstein. With the availability of these licenses, I can carry out activities without violating the law and regulations. There are also patents for many products of our project. Availability of licenses and patents allows us quickly block clones-project and resolve issues with dishonorable people copying the project. On the other hand, we are flattered by this fact that the project and idea are being copied. So, it shows to me, that Tilcoin is an idea and project which stands out from the crowd.