Arcual provides a blockchain platform that enables art galleries, artists, and institutions to manage sales, secure transactions, and maintain tamper-proof records of authenticity and provenance for artworks. By facilitating royalty sharing and efficient payments, Arcual enhances transparency and revenue opportunities within the art market.
Funding
Funding not disclosed
Founders
Product
Problem
The art world faces challenges in managing sales, securing transactions, and maintaining verifiable records of authenticity and provenance, leading to inefficiencies and lack of transparency. Traditional methods often rely on manual processes and centralized systems, making it difficult to track artwork history and ensure fair distribution of royalties.
Solution
Arcual provides a blockchain-based platform designed to streamline art sales and documentation for galleries, artists, art fairs, and institutions. The platform offers customizable online stores and viewing rooms, enabling users to showcase and sell art to a global audience while managing secure transactions in multiple currencies. By tokenizing artwork documentation, Arcual creates tamper-proof records of authenticity and provenance, enhancing trust and transparency in the art market. The platform also facilitates the setting and enforcement of resale terms, ensuring artists and collaborators receive ongoing revenue through automated royalty tracking and distribution via smart contracts.
Target Audience
Arcual's primary customers include art galleries, artists, art fairs, and institutions seeking to streamline sales, enhance transparency, and secure the provenance of artworks.
Features
- Customizable online stores and viewing rooms for galleries and artists to showcase their work globally
- Secure, blockchain-based tokenization of artwork documentation to create tamper-proof records of authenticity and provenance
- Integrated e-commerce features for seamless sales management and secure transactions
- Support for multiple payment methods in 135+ currencies
- Automated sales processes, including invoicing, payment tracking, and financial reporting
- Resale terms management to guarantee a percentage of future sales for artists and collaborators
- Smart contracts for automated tracking and distribution of royalties
- Gallery Portal for exhibitors to publish and manage their inventory directly in the Art Basel App