What's good and bad about an ICO to tokenize fine art?
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Art tokenization is the conversion of ownership into digital tokens for the purpose of improving the liquidity, making the asset easier to purchase or sell.
The following are some of the advantages and disadvantages of tokenizing art through an ICO.
- Tokenization can help asset owners to liquidate and sell their assets in a short period of time
- Investors can enjoy part-ownership of exquisite art pieces
- It encourages artists to put their work out more
- There is an increase in the number of patrons of the arts
- Art is relatively a difficult asset to tokenize because of its high illiquidity
- There is no personal touch involved when buying or selling art through an ICO
- It is difficult to determine the value of art
Keeping all these in mind, if you are looking for more information on art tokenization of even services, then have a look at Blockchain App Factory. They are skilled in providing blockchain-based solutions.