First In Europe, Royal Museum Of Fine Arts Antwerp Provides Investment In Blockchain Form For Artwork

JAKARTA - The Royal Museum of Fine Arts Antwerp (KMSKA) is the first European museum to mark a fine arts investment in blockchain digitization. This investment began with the painting of the Belgian painter, James Ensor (1860-1949), "Carnaval de Binche."

According to a report by blockchain digitization provider Tokeny, as of Monday, May 9, Investors can get fractional ownership of the artwork starting from 150 euros (Rp2304959).

This venture is a joint effort between KMSKA, Tokeny, and blockchain art entity Rubey, with the token itself, ERC-3643 compliant and launched on the Polygon (MATIC) blockchain.

The ultimate goal of this collaboration is to lower investment barriers to entry and allow everyday users to become co-owners of expensive works of art that are usually only accessible to wealthy individuals.

Through an innovative fundraising method, the Art Security Token Offering, individuals can collectively buy and ensure that KMSKA receives them with long term loans.

Unlike non-exchangeable tokens, Art Security Tokens in transactions are backed by debt instruments. Therefore, Rubey chose the Tokeny tokenization API to issue and manage the securitized tokens in a regulatory compliant manner.

“We share the vision with our partners, KMSKA and Rubey, that security tokens will have a real impact on the arts industry by enabling small investors to invest and engage in art that already has value,” said Luc Falempin, CEO of Tokeny, as quoted tokeny.com.

Meanwhile, KMSKA also has the same view. "KMSKA already has the largest Ensor collection in the world. The addition of the Carnaval de Binche puts our museum on the international map as a center of excellence for Ensor even more," said Luk Lemmens, President of KMSKA.