18:38 11 July 2022
Warsaw bourse launches a blockchain project for the art market
The Warsaw Stock Exchange is launching a project Private Market to support the development of the art market. The project will rely on tokenization - creating a digital representation of an asset, such as an art object, to attract potential investors.
“We believe that by transferring the high standards of the capital market to the tokenized art market, we could radically increase the transparency of this market,” Adrian Kutnik, director of the Private Market Department. He added that the new approach would also reduce entry barriers for collectors with smaller portfolios and less knowledge.
One of the challenges in the art market, not only in Poland but also globally, is a need for expertise and deep pockets The Warsaw Stock Exchange wants to use digital technologies to make an investment in art more affordable for Poles.
(PAP)
