A blockchain-based network called Freeport is about to be launched. This means investing in fine art will soon receive a digital upgrade. A limited edition set of four prints by renowned pop artist Andy Warhol are available on the platform. Investors will be able to purchase them for security token shares.
Freeport will use Vertalo to tokenize the artworks and let the investors and art enthusiasts purchase and sell them on decentralized finance (DeFi) platforms. Furthermore, the platform recently overcame a legal barrier with the U.S. Securities and Exchange Commission (SEC). This helped fractionalize shares of priceless artworks as security tokens on the Ethereum blockchain.
Warhol’s most famous works, such as “Marilyn” (1967), “Mick Jagger” (1975), “Double Mickey” (1981), and “Rebel Without a Cause” (1985), will all present themselves in the collection as reproductions. Each user will have access to only about 1,000 tokenized numbers. Freeport “partially purchased” the four pieces from prominent art collectors like Jane Holzer.
The intrigued collectors can sign up for the waitlist already. The collection is scheduled to debut in May. Each tokenized lot will have a beginning price that ranges from $250 to $860.
Blockchain technology allows art lovers to purchase fractionalized art
Remarkably, the era of technology brought a brand new class of investors. Colin Johnson, the CEO and co-founder of Freeport, refers to them as younger and less monetarily flexible. Though financial instability doesn’t stop this younger generation of investors from expressing interest in fractionalized art.
Additionally, Johnson said Freeport does more than fractionalize fine arts into security tokens. He calls Freeport a completely immersive and interactive platform. It is a hospitable place for an art-centric community. Moreover, Freeport redefines the ownership experience around fractionalized art.
The action occurs at a critical juncture for the NFT market. It definitely got off to a strong start a few years ago. Although today the interest and engagement rate is far lower than in previous years.
Famous artists like Warhol can give the industry the boost it requires to pique consumer interest and revitalize the market.
Today, Freeport offers an exclusive collection of Warhol prints as security tokens. It is a revolutionary opportunity for art lovers to purchase exquisite art using blockchain technology.