Turkish startup launches platform to democratize Islamic art investment

Türkiye-headquartered Islamic fintech Goldframer has introduced a platform to democratize Islamic art investment. 

The initiative aims to make investment grade Islamic art accessible, by enabling investors to purchase fractional shares in valuable artworks. 

The platform allows multiple collectors to have fractional ownership of a single piece. Goldframer’s collection includes a range of Islamic artworks ranging from Hüsn-i Hat (Islamic calligraphy), Miniature, Tazhib (Illumination), and Ebru to Islamic World Paintings.

The company also offers educational resources that help investors understand the art market, evaluate artworks, and make informed investment decisions, Goldframer said in a statement. 

For each artwork transaction, a record is created on the blockchain, ensuring transparency and security. 

"Our mission with Goldframer is to bridge the gap between the traditional art world and modern art investors," says Dr. Melih Turan, co-founder and CEO of Goldframer. 

"Despite the high demand for Islamic art, it often trades below its true value. We aim to change that."

The company is tapping into a global market that consists of a 100 million Islamic finance investors, with focus on MENA and the Southeast Asia regions as well as Western markets. 

The latest edition of the Knight Frank Global Wealth Report reveals that the value of art has more than doubled over the past decade, and has been the strongest performer in 2023, growing 11% year-on-year, ahead of jewellery (8%).