The company aims to create a model of collective ownership using blockchain technology.
Real-world asset (RWA) tokenization platform 10101.art made its official launch at the Ritz-Carlton in Dubai, offering attendees pre-sale access to Banksy and Warhol originals.
The idea behind the project is to digitally distribute famous works of art and sell them as tokens, creating collective ownership using blockchain.
“We believe it is time for a more welcoming approach to art ownership. 10101.art uses technology and collaboration to create a more enriching experience for everyone,” said Alina Krot, CEO of 10101.art. “This event marks an important step in that journey, and we would like all industry leaders and art lovers to join us in shaping the future of art collecting.”
According to their website, the experts at 10101.art choose valuable works of art that they consider worth symbolizing and, after an authenticity check, store them in Dubai.
The launch announcement also mentions works by artists such as Pablo Picasso and Salvador Dalí, although these are not available on their website.
The popularity of the RWA market registered significant growth in recent months, with the combined market capitalization for tokens within this sector exceeding $7.7 billion, says data aggregator CoinGecko shows.
Additionally, traditional financial institutions are exploring the benefits of RWA tokenization, such as BlackRock. Since the inception of their tokenized fund BUIDL, on March 20, the total size has increased from $40 million to $304 million, a jump of 660%.