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AllianceBlock has announced its strategic partnership with ARTBANX to bring art-backed financing to Web3, bridging the gap between Traditional Finance (TradFi) and Decentralized Finance (DeFi).

AllianceBlock seeks to build seamless gateways between TradFi and DeFi through trustless and decentralized infrastructure, while ARTBANX is an art collection management system for art professionals, collectors, and financial institutions.

This partnership is the first of its kind in the market to provide new ways for users to access liquidity to the unbanked or inaccessible asset class eliminating the need for centralization. Using AllianceBlock’s infrastructure and ARTBANX’s technology, the new platform will unlock more possibilities for art collectors allowing them to access the liquidity of their physical art. The new platform will provide a straightforward way for collectors to access this liquidity. In addition, this will open more opportunities to the art community while opening up the ARTBANX marketplace to a wider Web3 audience.

Through the partnership, AllianceBlock, with the help of Nexera Protocol’s infrastructure and NexeraID’s identity management toolkit, will allow the tokenization of physical artworks. The partnership will allow ARTBANX’s Web2-based technology to transition and integrate into Web3 using the MetaNFT standard seamlessly. MetaNFT standard is powered by AllianceBlock Nexera protocol. The transition will allow ARTBANX to take advantage of the inherent benefits of blockchain technology and third-generation NFTs.

Commenting on the partnership, Mads Boie Thomsen, CEO & Co-Founder of ARTBANX stated:

“We are thrilled to announce our revolutionary partnership with AllianceBlock, which is set to transform the art market through the power of cutting-edge technologies. By leveraging AI, we have seamlessly integrated the transactional records of millions of artworks, providing collectors, investors, and art enthusiasts with unparalleled insights for informed decision-making in fractional art-backed financing.”

The Art market has seen significant growth surpassing the $65 billion mark. The latest reports by Art Basel and UBS show that the Art market in 2022 saw a 29% rise over the previous year. During this period, interest in digital arts, especially NFTs, topped by $11.1 billion. This partnership will allow the growing community to participate in the burgeoning art market. By allowing participants to provide liquidity, the new platform will allow them to enjoy the benefits of tokenising real-world physical assets. 

Adding on the partnership, Matthijs de Vries, Founder and CTO at AllianceBlock, further stated:

“This partnership is a great example of how businesses can use our decentralized infrastructure to create new financial products and services. Partnering with ARTBANX, one of the leading collections management systems in the world is a big step forward for the industry.”

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