Tuesday, 28 May 2024

Crypto News

How can you own a genuine Banksy? The answer’s on the blockchain

How can you own a genuine Banksy? The answer’s on the blockchain

10101.art, a ground-breaking art-tech platform, celebrated its official launch in Dubai’s Monada Art gallery this week.

Bringing the power of the distributed ledger to the global art market, 10101.art leverages blockchain technology to make iconic works by Banksy, Warhol, Picasso, Dali, and others available for collective ownership.

Alina Krot, CEO of 10101.art, sat down to discuss the platform’s launch with Philip Hoey, Director of CoinJournal.

Philip Hoey: Thanks so much for taking the time to speak with CoinJournal, Alina. Let’s kick off with a quick overview of your platform – can you describe the journey that led you and your team to launch 10101.art?

Alina Krot: My journey to the art world was quite long. Even though art has always been my passion, my first career choice was finance. I used to work with high-risk assets and large investment lending projects in a bank before getting into the startup scene. 5 years later I realized that the big corporate world is not for me. In 2019, I got involved in WEB 3. This choice allowed me to dive into the blockchain field and work on several projects, gaining valuable experience.

Eventually, I’d grown to take a product management role. All that experience made me realize that basically any traditional sphere can be made more accessible with blockchain.

The puzzle of financial expertise and art appreciation came together when I met Iryna, founder of 10101.art. I realized that the art market can actually become more inclusive with the power of blockchain. Moreover, I knew I could really contribute to that.

PH: What first sparked your interest in combining physical art with blockchain technology?

AKI guess it was the realization of the absolute benefits blockchain is able to bring to the art industry. And by that I mean collective ownership and democratization of the art market itself. For a long time art ownership was a privilege of the richer people. Blockchain and collective ownership is making this market accessible for everyone. 

Every year more and more industries, such as real estate, healthcare, finance, etc. have already realized the benefits of blockchain implementation, so I’m pretty sure that a more widespread adoption will bring new disruptive innovations in numerous fields.

PH: NFT enthusiasts will be very familiar with investing in digital assets, but 10101.art is…

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