Turkish platform uses blockchain for art auctions
Published 31 May,2021 via Hürriyet Daily News - Artiox, a startup based in ODTÜ Teknokent in Ankara, has been using blockchain technology for art auctions.
So far, paintings worth 4 million Turkish Liras ($467,420) have been sold via the platform, Artiox Co-Founder Tuncay Dakdevir said.
“We have created this platform for a larger portion of the populace to participate in arts events. All checks are being conducted before putting up artwork for sale. All [blockchain] tokens are asset-based. If the whole artwork is offered to the public, it gets insured under our protection. If 49 percent of it is put up for sale, it gets insured by the relevant collector or the museum,” he added.
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Hurriyet Daily News