A New Definition of Artworks
Artists now create with the help of computer technologies. The idea of a unique, “original” piece is obsolete, and artworks are duplicable.
The solution is to differentiate an artwork’s intellectual property from its different physical realities.
The intellectual creation of an artwork is valued just as in traditional individual artworks and is securitized to gain in accessibility and liquidity. The ownership of an artwork is tokenized; a limited number of tokens is created for each artwork.
Token holders receive royalties on the artwork exploitation. Laffy Maffei Gallery is the first model allowing for the distribution of royalties.