How Blockchain Redefined Trust and Transparency in the Art World

Team Composition

• Design Phase: Project Manager, 2 Designers

• Development Phase: Project Manager, 3 Developers

About Art of Reason

The client is an art-tech startup, one of whose co-founders was an art consultant with over 30 years of industry experience, the other an operational excellence specialist who has learned her business from some of Europe’s top CEOs and lawyers. They have launched a startup that leverages blockchain technology to revolutionise the art world. The primary objective is to develop an innovative platform that facilitates the sale, purchase and promotion of art, to support artists in an artworld friendly way, while delivering authenticity and secure provenance by integrating blockchain’s strengths to provide transparency and security to art supplied via a new art medium for the 21st century.

Business Needs and Market Analysis

Market research identified a prevalent distrust of Web3 technologies among the target user base, primarily due to the generally poor reputation of NFTs, crypto etc outside of the Web3 community. This reputational deficit makes the use of any Web3 technology problematic. 

To address this challenge and other more specific business challenges, the client commissioned the creation of a platform that seamlessly integrates blockchain technology with an intuitive user interface. This platform allows users to create, sell, and manage sales of art, which use a new digital medium, without requiring prior blockchain knowledge or expertise. The advanced commission system ensures excellent compensation for artists and supports other stakeholders, while the flexible content management system empowers the client to independently update and manage content.This solution positions the platform as a cutting-edge, competitive player in the art market.

Objectives

The client’s main objectives include reducing the cost barriers to acquiring and enjoying art, broadening public interest in art, and making art more accessible. Additionally, they aim to offer the best possible support to artists, enabling them to expand their reach, secure a sustainable income and effectively promote their work. Building an engaged and vibrant community around the platform is also a key goal, fostering connections between artists and art enthusiasts. In short, turning art lovers into real art collectors will change everything, and make an artistic career truly sustainable.

Technology Stack

The project employed a comprehensive technology stack to ensure a resilient and user-centric platform:

 

• Frontend: Next.js 14 for server-side rendering and enhanced performance

• Backend: NestJS for scalable and efficient backend development

• Database: PostgreSQL for reliable data management

• Project Management: Jira for workflow tracking and task management

• Blockchain: Solidity for developing secure smart contracts to manage transactions

• Payment Processing: Stripe for seamless and secure payment integration

• Content Management: Cockpit for a dynamic and flexible CMS that supports easy updates and multilingual content

 

This carefully chosen technology stack was designed to deliver an innovative and efficient platform tailored to the needs of the traditional art community.

Results

The outcome is a platform that meets the diverse needs of both artists and users. The system's flexibility accommodates the complex requirements of creators while maintaining a visually appealing and user-friendly interface. The platform allows art enthusiasts to explore virtual exhibitions, purchase artworks rendered in a new medium, support their favourite artists, and easily display purchased art without the logistical challenges associated with traditional art ownership.

For artists, the fair commission system fosters growth, independent promotion, and creative freedom. The unique commission structure provides ample room for future scalability and feature enhancements without disrupting existing contracts. This approach also ensures the rapid execution of operations, reducing wait times for blockchain confirmations, which in turn minimises client costs and enhances user experience. The implementation of content management tools, including some translation features, empowers the client to independently manage and update the platform, reducing ongoing development costs.

Future Developments

The client plans to evolve the platform into a dynamic online space that fosters user interaction and meets the changing needs of artists and galleries. 

Stay tuned: https://artofreason.art