How The Blockchain Art Exchange is Modernising the Art Industry
We first heard of blockchain two years ago, it was introduced to us as the database for which the transactions of Bitcoin were held. Its genius: the fact that it didn’t exist in one place; the database was held by all of the digital currency’s users which made it much more difficult to cheat. Some ten years on from its initial inception the tech community have found new uses for it. The Blockchain Art Exchange (BAE), for one – the latest of blockchain initiatives to land on our radar – looks to modernise the art world with application of the technology.
The Blockchain Art Exchange is the brainchild of CEO, Sascha Bailey, an experienced Artist Manager, Art Dealer and Collector of art with ten years of experience in the art industry. He brought the idea to life to make buying and selling art simple and accessible to all, profiting both the artist and the buyer. With a desire to support the art industry Bailey and his team focused on simplifying the buying and selling of art. Bailey’s experience in the art world enabled him to experience how limited the current art world dynamic can be and how the current structure doesn’t work for the artists or the growing new art mediums.
The internet revolution caused many issues for the art world, especially the ability to copy something an infinite amount of times. Blockchain gives us the power to own files and transfer them to new owners without copying them, just like in the past, with vinyl records. Thanks to Blockchain digital files can now be rare files which hold a tangible value; protecting the buyer, artists and the integrity of the artwork itself.
David Bailey will be one of the first Artists to create a collection on the Blockchain Art Exchange. This landmark moment will see some of Baileys most iconic images for sale as Blockchain enforced digital assets. The art venture is on a mission to change the creative world forever. Decentralising the market & empowering Artists everywhere by giving them a platform to create, display & exchange artistic digital files, modernising the way people acquire artistic creations.
To learn more about The Blockchain Art Exchange head over to blockchainartexchange.com