We Master Art is a platform that offers simplified investments in art market. Our mission is to democratize access to art market investment opportunities, curated by a team of artworld professionals.
Ownership of these artworks properties is denominated by digital tokens on the Ethereum blockchain. Ownership in most artworks properties is determined by paper deeds. We Master Art replaces paper deeds with digital tokens; a new mechanism for asset ownership, based on the Ethereum blockchain.
The digitization of the paper deed into a digital token offers unique advantages in artworks ownership, which are explored in other areas of the Wiki.
Secondly, we will set up an investment fund made up of masterpieces (it will be accessible by our WMA token)
We Master Art's particularity lies in the combination of digital and material aspects of the artwork.
The model ils unique because we are the only one who offer the possibility to buy a token backed by a physical blue chip artworks.
We Master Art was born with the mission to register world-class artworks as NFTs on blockchain.
We aim to build a bridge between top-notch artists and blockchain, and to support the growth of native crypto NFT artists.
We Master Art is available for almost everyone to invest in art market with!
All citizens of the world can sign up and invest with We Master Art.
No, all purchases are made with traditional currencies.
Our goal is to enable anyone to collect NFTs and tokens without being a crypto expert.
Buying via cryptocurrency will soon available out team is currently working on it.
Our team of highly experienced artworks investors carefully curate art market opportunities in the world for We Master Art's customers to invest in.
Artworks will range from Street Art to Antiquities, to contemporary art with young star , all with high potential.
Each has been carefully chosen to respect our investment chart, reducing the risks.
At present artworks are all stored professionally, under very specific conditions. All investors can access the exact location of the works in real time.
The storage is in France and for security reasons only investors have the right to know the exact address.
Tokens are the purchasable asset; the digital representation of ownership.
Each WMA token works like a share in an investment fund.
Each artworks on We Master Art has its own set of unique tokens associated with it, for example our first drop is a blue-chip artworks by Adel Abdessemed, the token is ADEL.
What is a token?
Tokens on Ethereum can come to represent any and everything, as determined by the issuer of the token. This is how real-world assets like real estate, dollars, or gold can come to be traded, invested, borrowed, or lent on Ethereum.
Usually, ownership over assets is **represented by a piece of paper.** This piece of paper is a symbol of ownership of the asset in question.
- **House or Building:** a paper deed
- **Car:** a paper title
- **Stock:** a paper certificate
- **Bond** : a paper treasury note
- **Cash:** a paper dollar/euro/peso
Similarly, a **token** is a digital symbol of ownership. On Ethereum, you own a token in the same way you own the deed to a house. The piece of paper isn’t necessarily the valuable thing; it just symbolizing ownership.
A token is a digital possession. Bitcoin was the first digital token. A token is a digital asset that only exists on the internet. Unlike most files, images, or data on computers or the internet, tokens cannot be duplicated. When you send someone a token you cannot keep a copy yourself.
A ‘token’ is the term adopted by the blockchain, cryptocurrency, and crypto-asset world. A ‘token’ is a symbol of ownership over something. What that thing ‘is’, is very flexible. Some tokens represent US Dollars, others tokens represent Gold. Cryptocurrencies like Bitcoin and Ether are themselves tokens.
What is "tokenization"?
‘Tokenization’ refers to the process of defining ownership over something as ownership in a digital token on Ethereum. Companies like **Circle** have produced [tokenized Dollars,](https://www.circle.com/en/usdc) Paxos has produced [tokenized gold](https://www.paxos.com/paxgold/), and now RealT has produced tokenized real estate!
Tokenization refers to the process to which an ‘off-chain asset’ becomes represent ‘on-chain’. On-chain refers to being included in the Ethereum blockchain. This involves process requiring legal structure and compliance and depends on every jurisdiction and asset class.
What is "NFT" ?
An NFT is a Non-Fungible Token. This means that each artwork is identified by tokens that are unique to it. An NFT is a digital asset that can be traded.
Cryptocurrencies like Bitcoin and Ethereum are powered by a technology called the blockchain. **At its most basic, a blockchain is a list of transactions that anyone can view and verify. The Bitcoin blockchain, for example, contains a record of every time someone sent or received bitcoin.** Cryptocurrencies and the blockchain technology that powers them make it possible to transfer value online without the need for a middleman like a bank or credit card company.
- **Almost all cryptocurrencies, including Bitcoin, are secured via blockchain networks.** This means their accuracy is constantly being verified by a huge amount of computing power.
- **The list of transactions contained in the blockchain is fundamental for most cryptocurrencies** because it enables secure payments to be made between people who don’t know each other without having to go through a third-party verifier like a bank.
- Due to the cryptographic nature of these networks, **payments via blockchain can be more secure than standard debit/credit card transactions.** When making a Bitcoin payment, for instance, you don’t need to provide any sensitive information. That means there is almost zero risks of your financial information being compromised, or your identity being stolen.
- Blockchain technology is also exciting because it has many uses beyond cryptocurrency. **Blockchains are being used to explore medical research**, improve the accuracy of healthcare records, streamline supply chains, and so much more.
## What are some advantages of blockchains?
- **They’re global**: which means that cryptocurrencies can be sent across the planet quickly and cheaply.
- **They increase privacy**: Cryptocurrency payments don’t require you to include your personal information, which protects you from being hacked or having your identity stolen.
- **They’re open**: Because every single transaction on cryptocurrency networks is published publicly in the form of the blockchain, anyone can scrutinize them. That leaves no room for manipulation of transactions, changing the money supply, or adjusting the rules mid-game. The software that constitutes the core of these currencies is free and open-source so anyone can review the code.
## How does blockchain work?
Picture a chain you might use for a ship’s anchor. But in this case, every link on the chain is a chunk of information that contains transaction data. At the top of the chain, you see what happened today, and as you move down the chain you see older and older transactions. And if you follow it all the way down to the anchor sitting at the bottom of the harbor? You’ll have seen every single transaction in the history of that cryptocurrency.
This gives the blockchain powerful security advantages: it’s an open, transparent record of a cryptocurrency’s entire history. If anyone tries to manipulate a transaction it will cause the link to break, and the entire network will see what happened. That, in a nutshell, is blockchain explained.
- **Another way people often describe the blockchain is that it’s a ledger** (sometimes you’ll hear the terms ‘distributed ledger’ or ‘immutable ledger’), which is similar to the balance sheet of a bank. Like a bank’s ledger, the blockchain tracks all the money flowing into, out of, and through the network.
- But unlike a bank’s books, **a crypto blockchain isn’t maintained by any individual or organization, including banks and governments.** In fact, it isn’t centralized at all. Instead, it is secured by a large peer-to-peer network of computers running open-source software. The network is constantly checking and securing the accuracy of the blockchain.
- **Where does new cryptocurrency come from?** Every so often – around every ten minutes in the case of Bitcoin – a new chunk of transaction information (or a new block) is added to the chain of existing information. In exchange for contributing their computing power to maintaining the blockchain, the network rewards participants with a small amount of digital currency.
- **A crypto blockchain is distributed across the digital currency’s entire network.** No company, country, or third party is in control of it; and anyone can participate.
## Who invented the blockchain?
A person or a group using the name Satoshi Nakamoto published a whitepaper online explaining the principles behind a new kind of digital money called Bitcoin in late 2008. Every cryptocurrency since is an evolution of the ideas laid out in that paper.
- Nakamoto’s goal was to create digital money that would make online transactions between two strangers anywhere in the world possible without requiring a third party like a credit card company or a payment processor like Paypal in the middle.
- This required a system that would eliminate a thorny issue called the “double spending” problem, where a person might use the same money more than once. The solution is a network that is constantly verifying the movement of Bitcoin. That network is the blockchain.
- Every Bitcoin transaction is stored and verified by a global network of computers beyond the control of any person, company, or country.
- The database that holds all of that information is called the blockchain. **Bitcoins are ‘mined’** via that huge, decentralized (also known as peer-to-peer) network of computers, which are also constantly verifying and securing the accuracy of the blockchain. In exchange for contributing their computing power to the blockchain, miners are rewarded with small amounts of cryptocurrency.
- Every single bitcoin transaction is reflected on the ledger, with new information periodically gathered together in a “block,” which is added to all the blocks that came before.
- **The miners’ collective computing power is used to ensure the accuracy of the ever-growing ledger.** Bitcoin can’t exist separately from the blockchain; each new bitcoin is recorded on it, as is each subsequent transaction with all existing coins.
## What’s the future of blockchains?
The blockchain idea has turned out to be a platform that a huge range of applications can be built on top of. It’s still a new and rapidly developing technology, but many experts have described blockchain’s potential to change the way we live and work as being similar to the potential public internet protocols like HTML had in the early days of the World Wide Web.
- The Litecoin blockchain work in a very similar way to the original Bitcoin blockchain. **The Ethereum blockchain is a further evolution of the distributed ledger idea** because unlike the Bitcoin blockchain it’s not solely designed to manage digital money. (That said Ethereum is a cryptocurrency and certainly can be used to send value to another person). Think of the Ethereum blockchain as more like a powerful and highly flexible computing platform that allows coders to easily build all kinds of applications leveraging the blockchain.
- For example, **imagine a charity that wants to send money to a thousand people every day for a year. With Ethereum, that would only take a few lines of code.** Or maybe you’re a video game developer that wants to create items like swords and armor that can be traded outside of the game itself? Also, if you want to tokenize Real Estate like we do, Ethereum is designed to do that, too.
We Master Art sells artworks through the internet, allowing artworks to be purchased from nearly anywhere in the world.Artworks are fractionalizable, so suitable investors can invest any amount that fits their needs. Additionally, We Master Art has reduced the time to purchase artworks from a minimum of 30 days and numerous steps with third parties, to just 5 minutes and on your phone or computer.
With tokenization, artworks investments can be made affordable to nearly anyone. A single token for artworks costs between 6€ - 150€ per token, which are the lowest investment minimums the art market is able to offer. Traditional pen+paper competitors to We Master Art have 40 000€ 125 000€ investment minimums.
Art market is also a notoriously illiquid industry. By turning artworks into digital tokens, artworks can be accessed by far larger numbers of potential buyers, both due to fractionalization of the tokens and the potential reach of internet-based markets. The larger market participants that digital tokens are able to reach increases the liquidity of art market. Additionally, financial applications on Ethereum offer solutions to accessing liquidity for valuable tokenized assets.
A ‘wallet’ is a core component of a blockchain/cryptocurrency system. We Master Art uses the Ethereum blockchain to manage the accounting of the fractional ownership of the artworks on its platform. Because we run on Ethereum, our assets are stored in ‘Ethereum wallets’ .
A ‘Public Key’ or ‘Public Address’ are also terms that are used to describe a ‘wallet’.
A wallet is composed of two parts: a ‘public address’ and a ‘private key’. A good metaphor for this is ‘a mailbox’ and ‘a mailbox key’. Anyone can drop anything in the mailbox, but only the owner of the private key can open it up and access it. The link between a ‘public’ and ‘private’ key is rooted in [public-private key cryptography](https://en.wikipedia.org/wiki/Public-key_cryptography), and is what puts the ‘crypto’ in ‘cryptocurrency’.
In order to receive your purchased fractional shares of artworks, you will need an Ethereum wallet so that the assets can be delivered to you. There are many different wallets available, and each one manages your private key in different ways.
Make sure you understand how each different solution manages private keys for you.
A private key is very important! Any owner of the private key can access any of the funds that are stored it is associated wallet.
You can find out more information about Ethereum wallets on the [Ethereum.org website](https://ethereum.org/wallets/)
We particularly recommend those wallets: **MetaMask** (mobile and browser)
Creating a wallet is very easy. You just need to install the application of your choice and then create an account. When creating an account, the application will give you a “recovery phrase” to carefully note, to keep access to your wallet. You don’t have to enter any personal information like your email address or your name.
Once your account is created, you will be able to find your public Ethereum address (this address always starts with “0x”). This is the address that we will use to send you your Tokens and your rents.
We Master Art is powered by Stripe, which is the Payment Supplier, and ethereum Network which registers ownership of all artworks in the blockchain and secures transactions via dedicated smart contracts.
Purchasing tokenized artworks is an easy process! However, there are a few steps that must be taken first.
- **Submit your [ID Verification](http://realt.co/my-account/id-verification)**
The first step is to submit a picture of your ID, a selfie, and your preferred Ethereum/wallet address to your user account.
- **Be alerted**
Sales are announced 24h in advance via our newsletter, Twitter, remember to subscribe to them so as not to miss any sales!
**[Newsletter](http://eepurl.com/hs7PxP) ; [Twitter](http://twitter.com/realtplatform) ; [Telegram](https://t.me/RealT_Platform)**
- **Purchase artworks**
This is the fun part! Browse the marketplace and select your favorite artworks to purchase. Checkout and pay with cryptocurrencies (soon), or directly with your credit card.
- **Sign the Purchase Agreement**
As soon as the order is paid! The hard part is done, an email will then be sent to you by HelloSign with the documents to be signed (within approximately 1 to 2h). These legal documents link the token to the ownership and also provide more details about the legal structure that owns the artworks.
- **Receive the token(s)!**
Once you have signed the contract, you must choose to receive your rents and tokens within your.
We invite you to read the following articles: **How do I receive the token(s)?** and **How do I receive the rental income?**
Yes, you can sell your tokens.
The resale of tokens will be soon available on a secondary market.
You can soon sell your tokens on We Master Art website. Using the ‘Sell Tokens’ button found on the homepage you can generate a sale request. Sales through the website take normally 15 days to process.
By selling on the website, you know the price you are selling the tokens for, but it is not an instantaneous process.
We Master Art is a decentralized and sustainable platform. More specifically if We Master Art was to disappear, the users could still continue to perform all their operations. Still in the event that we no longer exists, a third party - having the same capacities as us: federation of artists, galleries, actors in the field, issue of prints, etc. - could develop a similar platform.
As with classic artworks, the price of your token can be revalued upwards or downwards.
Our desire is to estimate artworks every month or after every significant events, simply to be at the right price for all.
The value of a token on the primary market depends on one factor:
- The notoriety and the quote of the artist on the art market.
At any time, users can decide to no longer go through We Master Art's platform to perform operations on the blockchain. They can transfer all of their tokens to another address. An operation is planned for this purpose. The user interface to automate it is under construction and will be available soon.
The decentralized nature of We Master Art allows the user to continue participating by interacting with the blockchain directly. The user must therefore carry out sales and purchases on the blockchain itself using his wallet. This use is reserved for fairly advanced users because it requires the use and understanding of tools, which, even if they are accessible, remain specific to the universe of blockchains such as wallets.
We Master Art tokens holders are only paid when rent is collected. If rent is not collected from the tenant, then there is no rent to send out to token holders.
However, in the event that a tenant does not pay rent, they will be legal issue against them the artworks will come back in a safe shipment to our storage.
You have 2 options to receive your rent payment:
- You can receive it directly in your We Master Art account or compatible wallet.
- You can automatically reinvest into the dedicated Reinvestment Property.
Rent is paid in USDC a that has the same value as a currency like dollars. Using it allows for We Master Art owners to receive their rental income in a stable currency that does not fluctuate.