team - mid-level team
mvp - no
idea - interesting
competitors - low
market - #art
Mar 15th 2018
3 months ago
Mar 20th 2018
3 months ago
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FRESCO is the world's first blockchain art trust value distribution network.
Through blockchain technology, FRESCO enables artists, investors, dealers, galleries, and administrators around the world to demonstrate their artworks and evaluate collection strength, eventually creating an efficient and intuitive art value measurement system. FRESCO tokens (FRES) represent the level of trust distributed to each artwork.
To establish a quantifiable ecosystem for the evaluation and sharing of artworks, FRESCO pioneered in introducing the trust token distribution mechanism, FRESCO Protocol. FRESCO Protocol will create an efficient contractual mechanism between users and their artworks.
Once the FRESCO platform is live, FRESCO Token holders will have the priority to allocate their FRES tokens to their artworks. Each user’s spendable FRESCO tokens is FRES Cash, and the amount of FRES Cash one possesses represents their art trust distribution limit. The number of FRESCO tokens allocated to artwork will be the FRES Trust. In the future, it will be the only decentralized and reliable indicator of an artwork’s potential value.
The FRES Trust reflects the total value of trust given to artwork by its current and previous owners. The FRES Trust distributed to each artwork is publicly visible and anonymous in identity. The distribution of the FRES Trust is irrevocable and adds a unique index of trust value to the artwork. The FRES Trust reflects the comprehensive academic and market value of that artwork in the intricate art environment. There are two types of transaction records between users generated on the FRESCO platform:
● FRES Cash Transaction: Transaction history of FRES Cash.
● FRES Art Transaction: Transaction history of artworks and attached FRES Trust.
The trust value of the artworks in the FRESCO network will accumulate after multiple transactions, resulting in the appreciation of its market value. In the FRESCO network, users can distribute a certain amount of FRES Cash to the artworks they own. FRESCO Protocol generates the digital provenance of the artworks on the blockchain.
Transactions and circulation of art have been under myriad regulation for more than five centuries. On the operational level, however, the opaqueness of the transaction, the ambiguity of authenticity, the highly concentrated power of pricing and the exclusive collector’s circle along with a lack of access to prestigious artwork have together formed a formidable barrier that kept most art investors from the market. FRESCO, a revolutionary art trust evaluation and information sharing network, creates a decentralized art ecosystem. Unlike the traditional primary and secondary art market, all artworks in the FRESCO network are systematically archived on the blockchain. This offers an assurance of anonymity, transparency, and liquidity, while potentially solving issues such as appraisal, authentication, and information asymmetry.
The rapid development of blockchain technology has created an unprecedented opportunity for the art industry. FRESCO's blockchain-based trust token mechanism and decentralized database network will attract more potential investors to today’s art market. Furthermore, this decentralized and self-learning artificially intelligent database combining with FRESCO’s world-class algorism will be able to further predict user’s future artwork inclination.
FRESCO, the world's first blockchain-based ecosystem serving art collectors, practitioners, and related organizations, connects the realms of technology, finance, and art market and create a decentralized platform for the trade, investment, research, archival, and management of artworks.
The FRESCO Operations and Advisory Teams include leading figures in the global art scene, the blockchain industry, and financial realm. Our engineering team has extensive experience in developing blockchain projects. The FRESCO team will release our testing network, FRESCO Alpha Net Version One (FANVO), among the world’s mega-galleries, museums, and private collectors within nine months. Collaborations at this scope will enrich the FRESCO database and facilitate the art trust tokenization.