This development offers opportunities for both art enthusiasts and investors to buy and even trade museum-quality works of art using cryptocurrencies.
Sygnum partners with Artory, a digital registry for the art market, to provide tokenization services for art collectors and investors.
Sygnum provides secure storage and transfer of digital tokens representing ownership of the art, and also enables the trading of these tokens on secondary markets.
In addition to partnering with the Museum of Modern Art in New York to tokenize some of its artworks, Sygnum has also worked with other institutions and companies to tokenize other collectibles such as stamps, coins, and vintage cars.
The tokenization of art has made several masterpieces available for purchase as digital tokens, including Da Vinci's The Last Supper, Munch's The Scream, and Dali's The Persistence of Memory.
Tokenized art can provide a range of benefits for collectors and investors, including increased liquidity, reduced transaction costs, and greater accessibility. However, it is important to thoroughly research the security and authenticity of tokenized art before investing.
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