The Warsaw Stock Exchange (WSE) and the art market portal ArtInfo will work together to create a business framework to tokenize the art market. A relevant cooperation agreement was signed during the Warsaw Art Fair by Marek Dietl, President of the WSE Management Board, and Rafał Kamecki, President of ArtInfo.pl. The entry of the WSE into a new investment area will have a significant impact on the development of the art market in Poland.
The signing of the agreement marks the beginning of cooperation aimed at creating a business framework enabling the tokenization of works of art, in particular paintings. This will not only increase the transparency of the art market in Poland but also their availability to retail customers. Thanks to the use of blockchain technology, transaction costs will also be reduced and the security of the transactions themselves will increase.
"We mean tokenization of physically existing works of art so that investors with a slightly smaller portfolio but willing to take exposure to this asset class can participate in this market," Marek Dietl said.