All-Art Protocol: Introduction

Vision

Non-Fungible Token (NFT) infrastructure holds the key to disrupting the current art & collectables market. We are driving the structural change that will remodel the art & collectables industry by establishing an improved NFT standard with embedded license rights and a new liquidity protocol.
The All-Art Protocol will enable NFTs to become perpetually traded like any crypto token, with continuous liquidity through a new type of AMM liquidity pool.

Mission

Launching an infrastructure which enables proper rights management and constant liquidity of non-fungible tokens. Empowering creators, collectors, and investors to generate, utilize and trade art in a way never before done.

The problem

It is no secret that the current NFT market is unsustainable and has no room to grow.
What are you actually buying when you buy an NFT? A hash value, metadata, or a work of art itself. Copyright and other associated rights were never a design feature of NFTs. An emerging number of cases started challenging the concept, making it harder for the market to adopt a new tech stack as a full-time solution for a longstanding problem.
When we look at the art market as a whole, there is one crucial aspect to consider. Most of the art in the world is hidden behind closed doors. In the Art & Finance Report 2019 by Deloitte and ArtTactic, it is estimated that the wealth associated with art and collectibles is worth over US$1.5 trillion, but most of that art is stored away in freeports.
While blue-chip art is inaccessible to small collectors, there is also a significant barrier to entry for new collectors within the blockchain space due to the inoperability of current platforms. The DeFi movement crafted a new playground for innovative projects but still fails to include the NFT concept into its ecosystem due to the tokens’ non-fungible characteristics. A lot of stakeholders are waiting for a proper solution to transform the market.

The solution

The new infrastructure must be substantially better to transform the status quo and move the art market forward.
Art must become a liquid asset class. Transaction fees must be cheap. Transactions must happen almost instantaneously. Energy consumption must be minimal. Registered art on the blockchain must be compatible with established regulations and copyright law. Collectors must be able to benefit from purchased art beyond speculative trading. Art on the blockchain must follow international standards for provenance documentation and verification.
When the proper protocols are in place, we have a base for unlocking almost US$2 trillion in art value stored behind closed doors. For this to happen, collectors must have confidence in the underlying technology, and there must be a proven track record and widespread institutional adoption.
Once transaction fees are lowered, a proper solution for license rights is introduced. There are immediate benefits to collecting and utilizing those rights, incentivizing more people to enter the NFT space. This mechanism will create a positive adoption loop, where more and more galleries and artists will realize the benefits of bringing art to the blockchain. In a way, this process is already taking place.
The new market dynamics could stimulate prominent collectors to reveal their holdings and bring valuable art into the open. An abundance of priceless art with significant historical value is only accessible to a few people, but if those artworks and artifacts were shared with a wider audience, it could create an unprecedented cultural shift that would benefit the global civilization.
Last modified 3mo ago