In 2018, something peculiar happened in the art industry.
This time it wasn’t another controversial nude painting or a lost artwork recovered from the Nazi archives.
In fact, it had nothing to do with the paint, brush or canvas.
That year, a little known startup called Maecenas introduced a revolutionary concept to the industry involving blockchains and cryptocurrencies.What is Art Tokenization?But, how does one use the blockchain to sell their artwork?
The answer is quite simple — Tokenization.
By converting the monolithic painting into thousands of digital tokens, the company managed to fragment the ownership of the artwork using blockchain.