Arteïa is launching a peer-to-peer platform for the art market, using blockchain technology “to bring unparalleled security, trust and liquidity to the market”.

It has also announced it will introduce its utility token, ARTK, that will be immediately available on the platform after the initial coin offering (ICO).

Arteïa’s platform links a collection management system to a matching platform supported by a provenance tracker. It allows the art market to “interact around a provenance ledger, to share, study, lend and trade artworks through matching marketplaces” in a tokenized eco-system.

Founded in 2016 in Brussels, and with its first product, Arteïa Collect, launched in October 2018, Arteïa’s new platform stems from the desire to bring more transparency and more security to the art world. The project is led by a mix of experts from the art, business and tech field. Its founders Philippe Gellman (CEO), Marek Zabicki (CTO) and Olivier Marian (CSO) are entrepreneurs and experienced collectors.

“We have already raised €3m since the creation of the company to develop our working platform and we are onboarding new collectors every week,” said Philippe Gellman, CEO of Arteïa.

“Now it’s time to grow our project on an international basis and an ICO seemed the most accurate way to get the necessary means and develop a whole tokenized eco-system.

“We will bring more efficiency and liquidity on the secondary market with lower fees than on the actual art market and more transparency, creating a universal ledger by anchoring in the blockchain the provenance of art pieces.”