Ellen Britt for CNT #NFT
In our previous article in this series, we took a look at how NFTs can increase supply chain transparency. Today, we’ll examine number four on our list, tracking art.
A staggering amount of priceless artwork has been lost, especially in the aftermath of World War II. Some of this art was simply lost, other pieces were stolen by both individuals and groups and yet others were replaced by counterfeits.
Priceless And Irreplaceable
Today, precious and irreplaceable pieces from the old masters can be tracked by tagging them through an NFT. Not only does this apply to the old masters, but also applies to physical art that has not yet been created.
This process has two sides: physical art, such as the original Mona Lisa, can be turned into an NFT, and conversely, an NFT can be made into physical art.
NFTs can also help to track a specific art piece and to determine its originality. This can greatly reduce or even eliminate the counterfeiting problem. For auction house owners and users, it ensures that the piece of art the patron purchased is indeed authentic.
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