Introducing Arcual: The First Blockchain Ecosystem Built for the Art Community, by the Art Community. This new initiative was born out of a shared mission to put artists at the center of the art ecosystem, offering them greater ownership, transparency, and participation in their careers.
Arcual has been purpose-built to address the unique needs of the art world – including artists, galleries, institutions, and collectors. Blockchain applications will create a trusted space for information, partnerships, and transactions within the art world. Initially, it provides smart contract solutions for artist and gallery royalties, custom payment terms, sales agreements, verified provenance, and digital certificates of authenticity. Technology has accelerated transformation across the arts in recent years, and Arcual will partner with and empower users to fully engage with the benefits of digital innovation.
Marc Spiegler. Courtesy Art Basel
‘Within Art Basel, the inspiration came from a long-standing frustration around the fact that in today’s art world, artists often don’t benefit from the growth of their own market – and neither does the gallery that provided early support for their careers,’
Marc Spiegler, Global Director of Art Basel and member of the MCH Group Executive Board
‘Arcual is well-positioned to solve longstanding challenges and create new opportunities across the entire art community – and we are the first blockchain ecosystem to be purpose-built with these use cases at its core. We want to be a trusted space for information, partnerships, and transactions, from which new forms of collaboration will be possible. We are excited to bring to life a long awaited solution for the art world.’
Bernadine Bröcker Wieder, Arcual CEO
About Art Basel Founded in 1970 by gallerists from Basel, Art Basel today stages the world’s premier art shows for Modern and contemporary art, sited in Basel, Miami Beach, Hong Kong, and Paris. Defined by its host city and region, each show is unique, which is reflected in its participating galleries, artworks presented, and the content of parallel programming produced in collaboration with local institutions for each edition.
Arcual is currently being offered in beta phase to galleries eager to embrace a new way of doing business in the art world. For further information, visit artbasel.com.
