Maecenas Review – Cryptocurrency Guide
Maecenas is a “decentralized art exhibition” that expects to be the world’s first blockchain platform that democratizes access to fine art. Here’s our review.
What Is Maecenas?
Maecenas is an art display based on decentralized blockchain technology. The platform means to democratize the universe of fine art, making it more open to individuals outside of a certain class.
Clearly, fine art isn’t modest. A portion of the world’s wealthiest individuals pay a huge number of dollars for fine art. It’s a kind of benefit held for a quite certain class of individuals.
In spite of the selective idea of fine art, there’s an expected $3 trillion worth of fine art in safe stockpiling. $65 billion of that artwork is exchanged yearly through sale houses and art merchants. Moreover, fine art is viewed as a solid and safe store of significant worth. It’s a non-conventional investment. However, some well off families have kept art in their portfolios for a considerable length of time.
That is the place Maecenas sees an opportunity. Maecenas will tokenize fine art, offer it on the blockchain, and democratize access to the universe of fine art. Maecenas trusts the fine art marketplace is in urgent need of an open, reasonable, and straightforward trading platform. Until the point when that platform is made, the fine art industry is missing out on tremendous measures of capital.
The company’s name, coincidentally, originates from “an early benefactor of the arts” named Gaius Maecenas, who democratized art in Ancient Rome by financing poor artists.
What Problems Does Maecenas Seek To Solve?
Maecenas is based on blockchain technology. Maecenas expects to modernize an industry that is remained essentially the same for a considerable length of time. Here’s the way the company sees the capability of blockchain in fine art:
“But now blockchain can give the establishment to a safe and productive market that empowers buyers and merchants to execute straightforwardly without intermediaries. An open, dexterous platform can stimulate art markets and bring a large number of investors off the sidelines.”
The present fine art marketplace is dominated by old closeout houses. The two biggest closeout houses – Sotheby’s and Christie’s – corner 80% of the auxiliary market volume. They offer indistinguishable expense structures that power art buyers to pay up to 25% commissions, while venders are charged considerably more.
These bartering houses likewise control access to information. By restricting access, these sale houses inhibit price disclosure. It’s about difficult to know the reasonable price of a bit of artwork because there’s no chance to get for investors to survey market slant.
Different markets have stocks or cryptographic forms of money to help determine prices. The fine art industry, however, has no structure books or exchanges, and verifiable information is rare and meager because art pieces are exchanged so infrequently.
Maecenas expects to take care of these issues.
How Does Maecenas Work?
Maecenas imagines a future where fine art is exchanged on a straightforward, permanent, and secure blockchain. The company plans to totally expel intermediaries from the condition. They plan to supplant dealers with smart contracts that straightforwardly define sell off principles, bidding frameworks, and income distribution.
In the mean time, fine art will be exchanged through an open exchange, giving continuous reports on what the art is really worth. Portfolio managers can price their positions all the more precisely and diversify their hazard by investing in a scope of different art resources. There’s no requirement for somebody to pack their funds in few difficult to-offer pieces.
Maecenas’ blockchain makes carefully designed advanced certificates linked to bits of art. These certificates are permanent once they’re recorded on the blockchain. They’re difficult to fashion because of the cryptographic idea of the blockchain.
Maecenas will tokenize artwork, so a single bit of artwork is separated into a huge number of certificates – like how an open company issues shares. Investors would then be able to buy these certificates to possess a level of a given bit of art, and they can offer them back to different investors whenever by means of the Maecenas exchange.
The platform will have a strict due steady process while adding new bits of fine art to the platform. This will involve verifying the art’s authenticity, insurance strategy, safe stockpiling, valuation, condition, and other key indicators. Maecenas plans to just rundown high-quality artwork with a pristine reputation.
After the art is recorded o the platform, the art will go through a Dutch sale process. Investors submit private offers stating what number of offers they need to buy and at what price. This is like a private and cryptographically secure book-building exercise. It gives investors bargaining power while likewise providing them with a reasonable and straightforward pricing mechanism. It likewise stays away from the “settled price” listings seen on regular closeout houses.
Sell-offs for fine art are relied upon to happen over various days or weeks, allowing anybody to participate. Artwork can be recorded in different fiat monetary standards, including the USD or EUR, or digital currencies like BTC and ETH.
Genuine feelings of serenity
Artworks remain in guardianship of confided in institutions, verified authorities and displays. Investments are completely ensured by insurance and a solid legitimate framework. Provenance documentation is secured by cryptography, in this way making it difficult to falsify once it’s on the platform.
A CURATED, TRANSPARENT MARKET
Access Maecenas’ online platform and peruse professionally verified and curated artworks. Think about recorded prices and execution against market benchmarks.
Decreased COSTS and INCREASED LIQUIDITY
Maecenas platform makes it conceivable to construct and deal with a fluid arrangement of art-supported instruments, accordingly eliminating the expenses related with investing in physical art.
Maecenas offers the most focused fees in the fine art market.
The Maecenas Token (ART)
The Maecenas platform will be powered by a computerized cash called ART. ART is the token used for all transactions on the platform. The token capacities as a clearing and settlement mechanism for art investment – like how Ripple tokens (XRP) can clear and settle remote exchange transactions.
A sum of 100,000,000 tokens will be issued. The ART tokens are an ERC20 standard token on the Ethereum network.
30% of the aggregate supply of tokens will be sold in the crowdsale. 30% will be kept as a save liquidity fund. 20% will be assigned to incentivize partners and secure customers. Also, 20% will be retained by Maecenas.
People in general crowdsale is ongoing all through September and October.
Step by step instructions to Use Maecenas
Need to buy or offer art on the Maecenas platform? Here’s the fundamental procedure that will be used:
Stage 1) The proprietor of a bit of fine art chooses to offer the artwork on Maecenas. The proprietor picks in which cash they might want to get the returns from the sale. They can pick ART tokens, digital forms of money, or fiat monetary forms.
Stage 2) Investors participate in the bartering by submitting ART tokens to the closeout’s smart contract. Investors can participate using fiat monetary standards or different digital forms of money, in which case their cash is kept in a different store account.
Stage 3) When the Maecenas platform gets cash, it distributes a proportionate number of ART tokens to the investor, at that point vows the tokens on the smart contract in the interest of the investor. Maecenas goes about as a market producer to ensure liquidity.
Stage 4) When the Dutch sale process is finished, the smart contract continues to dissect every one of the offers to determine the final offer price and the quantity of offers each fruitful investor winds up purchasing.
Stage 5) The smart contract settles the transaction by issuing artwork crypto-offers to investors. The artwork merchant gets either the ART tokens or the equal sum in cash depending on what they picked before the closeout started. Maecenas goes about as a market creator to ensure liquidity, and hedges the remote exchange hazard forthright as offers are submitted.
All through the Dutch closeout process, Maecenas’ smart contract goes about as an escrow. Remote exchange rates are given by a confided in Oracle.
Who’s Behind Maecenas?
Maecenas is driven by CEO Marcelo Garcia Casil, Chief Art Officer Jerome Croisier, and Founding Partner Miguel Neumann.
The company has workplaces in London, Singapore, and Geneva. The company has officially settled partnerships with “freeports” in these urban communities and other art center points. Freeports are unique financial zones close air terminals where art is kept in secure capacity while as yet being avoided neighborhood impose controls. Such offices exist in Geneva, Luxembourg, Singapore, Shanghai, and New York.
How To Buy Maecenas (ART)
While reading this review you must be wondering about how to buy Maecenas (ART). Well, the process is quite simple and this section will help you to know how to buy Maecenas. However, you will need to find the exchanges first to know how to buy Maecenas. At the moment, you can make use of HitBTC and IDEX to buy Maecenas (ART).
Maecenas intends to democratize and modernize an industry that painfully needs it. The universe of fine art barters hasn’t been disturbed in hundreds of years. Today, two noteworthy closeout houses dominate 80% of the marketplace and charge lucrative commissions to the two buyers and merchants.
This syndication prompts diminished straightforwardness in the art industry, inhibition of price revelation, and in general lower liquidity and productivity.
Maecenas needs to take care of these issues using blockchain technology. You can learn more about the project online today at Maecenas.co.