Last year was incredible for art2act. Starting as an online marketplace that showcased the work of emerging artists, the platform began to evolve into a web3 ecosystem. That evolution will go on all through the year 2022, while blockchain technology will be introduced deep within the platform, transforming the entire ecosystem around it. The goal is to focus all efforts in bringing in the tools blockchain has to offer to empower contemporary artists and support them achieving their financial independence.
Why is the contemporary art market so desperately in need of blockchain? Well, for starters, although the cultural sector is one of the largest and most job-creating sectors of our economies, the situation of living artists is quite precarious, both in the USA and in the EU. We’ve seen in our previous articles that only 10% of art graduates can live off their art when their studies are concluded. Moreover, when they do manage to live off their art, they are considerably poorer than average, particularly if they are women. On the other hand, these are some of the most entrepreneurial individuals, for they are almost four times more likely to be self-employed than the average worker. This situation is caused by the tremendously high concentration that exists in the contemporary art market. Here, very few players decide which art is good, and which isn’t. Which one is worth a fortune and which one is worthless, for their own profit, while most artists struggle to get by. And, what is blockchain if not a great tool for changing centralised models?
art2act envisions the decentralisation of the cultural sector, making it independent and tailored by its community. We are deeply convinced that a decentralised cultural sector, one that includes more its stakeholders, whether they are art buyers, supporters or creators, will bring in a lot of capitalisation. That’s why we want to make sure today’s artists have access to all the tools they need in order to become financially independent through their art. Being deeply convinced that blockchain will empower them to unprecedented levels, we are here to be the bridge artists need to walk through this digital revolution, without ever conditioning their work, their revenues, and their creative freedom. The same applies to other essential stakeholders in the sector, like fine art universities and various educational institutions, fine arts circles, public and private cultural foundations, as well as art consumers and investors, whether they’re big or small.
The problems the art sector faces are systemic, and they need to be addressed with a systemic solution. That is why we created a modular ecosystem that tackles different areas of need. Besides the already existing marketplace, art2act will offer a large panoply of business tools specifically developed for artists and a pool of cultural and job opportunities directed to them. Every artist will be able to access a launchpad to finance their work and projects, as well as a space that will allow them to mint their own NFTs, with all the educational material they will need to do so. Moreover, this platform will give them the chance to connect with each other and with the rest of the stakeholders in the market with an efficiency that will turn art2act into a “must” for every artist that wishes to succeed. This, and much more, will be revealed in detail throughout this year. Until then, just be sure that the whole team of art2act is fully focused on changing the cultural sector by empowering artists through blockchain technology.