Venom is proud to announce a partnership with Artfi that will reshape the intersection of art and technology through bringing real world assets on-chain. Artfi is a blue chip investment platform that allows users to invest in fine art through fractionalized NFTs. Together, we’re set to redefine access to world-renowned artworks and bring a wave of inclusivity to a traditionally exclusive market.
The $1.7 trillion USD fine art and collectibles market, once deemed exclusive and elusive, is being challenged by platforms like Artfi. They are on a mission to democratize access to iconic blue chip artworks of world-renowned artists.
Artfi’s approach to fractionalized art investing ensures that barriers are significantly lowered. Traditionally, a piece of blue-chip fine art, valued at over $1 million USD, would be beyond the reach of the average investor. With Artfi, this paradigm is shifting. The platform divides each artwork into 10,000 NFTs, available for purchase, with prices starting at an accessible point of just $1,000.
Artfi’s innovation doesn’t stop at democratization. Once you invest in these NFTs, the physical artwork is safely housed in Artfi’s gallery located in the city of Dubai. From this point, investors can either opt to resell their NFTs in the secondary market or remain invested until Artfi orchestrates a sale of the artwork. Upon such a sale, the corresponding NFT is burnt, and the proceeds flowing back to the investor.
While Artfi has been operational on Ethereum and Polygon, the collaboration with Venom promises to improve the experience for their users. By integrating with Venom’s infrastructure, Artfi aims to augment the user experience, offering dramatically reduced transaction fees and expediting NFT transfer speeds.
Faraj Abutalibov, Chief Commercial Officer at Venom Foundation, had this to say about the partnership — “Venom is thrilled to announce our partnership with Artfi, a trailblazer in the blockchain industry’s mission to bring real-world assets onto the blockchain through fine art. This partnership perfectly aligns with Venom’s vision of ushering in a new era of blockchain adoption by bridging the gap between traditional assets and the decentralized future. Together with Artfi, we hope to revolutionize how we interact with real-world assets in the digital age, making them more accessible, secure, and efficient for everyone.”
Artfi is not only looking to capitalize on Venom’s superior transaction capabilities but is also exploring avenues to introduce their native token to the Venom ecosystem. This integration will provide Artfi’s community with even more flexibility and opportunities within the decentralized world.
Asif Kamal, Founder & CEO of Artfi shared his thoughts — “Artfi’s mission is to lead the charge in bringing a $1.7 trillion USD asset class onto the blockchain. Our strategic integration into the Venom Chain is a monumental leap forward in our journey. This partnership not only empowers us to confidently advance from the UAE but also underscores our shared vision for broader adoption. It sets the stage for a bright and promising future, not just for Artfi but for the entire blockchain ecosystem, as we collectively work towards the vision of putting real-world assets on-chain.”
Furthermore, today we are happy to announce that Artfi joins us in the Venom Network, click here for more information.
To find out more about Artfi, check out the links below:
Website: https://artfi.world/
Twitter: https://twitter.com/artfiglobal
Medium: https://artfi.medium.com/
Instagram: https://www.instagram.com/artfiglobal/
To find out more about Venom, check out the following links:
Website: https://venom.foundation/
Testnet: https://venom.network/
Whitepaper: https://venom.foundation/Venom_Whitepaper.pdf
Documentation: https://docs.venom.foundation/
Medium: https://medium.com/@venom.foundation
Twitter: https://twitter.com/venomfoundation
