The New Frontier for WEB3: Real-World Assets

Bringing together people working within the same industry and willing to share their expertise is a true driver of progress. These gatherings act as a platform for innovative ideas. Fueled by their resources or investors’ backing, people translate their expertise and dedication into market-shaping initiatives. One such change-driving opportunity is Blockchain Life, an event that fosters a culture of innovation and propels the industry toward a dynamic future.

One of the ideas that will be discussed during the event is the potential of real-world assets (RWAs). Many large banks, such as JP Morgan, have begun using tokenized versions of assets to complete transactions. Real estate, fine art, commodities, and other tangible and intangible assets have also transformed under the influence of the recent RWA trend. For example:

• ProprHome platform uses the XPR Ledger to create and distribute NFTs that will represent property ownership. 
• EMX trading platform uses cryptocurrency as collateral to trade commodities, equities and crypto futures. 

Real World Assets & Their Use Cases

Real-world assets (RWAs) are anything that has value and exists in the physical world aside from cryptocurrency and blockchain technology. They can be broadly categorized into two main groups:

1. Tangible assets. Including real estate, commodities, infrastructure, fine art, and collectibles.
2. Intangible assets. Include intellectual property, financial assets, and data-based assets. 

Bringing real-world assets to blockchain opens new opportunities for democratized collective ownership. This happens via tokenization. Tokenization refers to the process of converting ownership rights or representations of physical or intangible assets into digital tokens stored on a blockchain. These tokens act as digital certificates representing a stake in the underlying asset, allowing for increased liquidity, transparency, and security.

How Art Tokenization Works at 10101.art

The process of art tokenization at 10101.art includes several significant steps. Here’s a short overview of the process. 

First, the team’s experts handpick exclusive paintings from renowned collectors, auction houses, and galleries. Each piece is meticulously authenticated, guaranteeing the genuineness of iconic works like Banksy’s “Turf War” or Warhol’s “Campbell’s Soup Cans.” 10101.art creates secure digital representations of these masterpieces, storing them safely in a decentralized system.

For each chosen artwork, a smart contract is created. This digital agreement specifies the number of tokens representing the piece and their initial price. These tokens are minted upon purchase, each uniquely linked to the artwork through the smart contract. The project’s upcoming secondary market allows token holders to trade their shares within the platform.

Ultimately, you become a legal co-owner of the original masterpiece by purchasing tokens in either the primary or secondary market.

Sounds interesting? Stay tuned for the speech of the CEO of 10101.art, Alina Krot that will take place on Expo Stage,  April 15 at 1 pm. Also, you are welcome to visit the team at booth D1.

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10101.art is a Diamond sponsor of Blockchain Life 2024. At booth D1, every visitor will have a chance to explore Banksy’s “Turf War” and Andy Warhol’s “Campbell’s Soup Cans” – the authentic masterpieces by legendary artists. 

The 10101.art team is also preparing an exclusive event – the official opening of their partner art gallery, Monada Art, in DIFC, Dubai. Follow the news of Blockchain Life, and don’t miss out on the opportunity to see genuine world-renowned paintings and meet the 10101.art team – a group of art enthusiasts willing to democratize art ownership with the power of WEB3.