Thanks to traditional auction houses the current art market has a huge divide between the artist and the collector. With the typical art enthusiast, today being worth millions of dollars this market is extremely hard for regular people to become collectors. Some artists believe this takes a lot of the culture out of the art world. Every artist has a story to tell through their work and with no connection to the artist, collectors don’t know the story behind the art they are purchasing.
Portion aims to rekindle that special relationship between creator and collector through a new art form: scarce digital art. Thanks to blockchain technology Portion is able to create a new market allowing the artist to put themselves out there without being vulnerable. When an artist puts a piece of their art on the Portion blockchain and it is authenticated, artists may then proceed to place it on the Exchange where bidders worldwide are able to see the art directly from the person who created it. This transaction allows collectors to support and connect with their favorite artists through a direct peer-to-peer marketplace.
Thanks to the transparency of a decentralized blockchain, collectors are able to keep their anonymity and the highest bidder almost instantly receives authentication for their new piece of art. All while sellers have peace of mind seeing the transparency of cash flow for the art. Thanks to blockchain technology artists are able to magnify their visibility and reach a much broader audience than they could have ever imagined.