Recurring Revenue Model
Redefining Revenue Dynamics in the Art Industry with Art Lock
In the traditional art market, artists often face income limitations, especially in the early stages of establishing a noteworthy reputation. Typically, artists receive minimal residual income beyond the initial sale, with art dealers and auction houses reaping the most benefits.
Art Lock redefines this paradigm with a unique Recurring Revenue Model, ensuring a continuous stream of rewards for artists, galleries, and auction houses with each transaction. The platform not only serves as a steadfast income source but also provides perpetual compensation, reshaping the narrative and fostering a sustainable ecosystem within the art community.
Here's how it works:
Provenance and Ownership Assurance
When an artwork is sold, the associated Validated Data Token (VDT) serves as the guardian of provenance and proof of ownership. At the time of sale, the token seamlessly transfers to the buyer's wallet through a smart contract, ensuring a secure and transparent transaction.
The most important aspect of the Art Lock platform lies in the connection between the Validated Data Token and the art piece. These entities are intertwined, ensuring that future owners not only have validation of ownership and provenance but also uphold to the perpetual income stream for the artist and stakeholders.
Automated Revenue Distribution
Art Lock's smart contracts go beyond provenance; they automate revenue distribution to all relevant parties. The gallery, artists, and agreed stakeholders receive their predetermined percentages or fees automatically as the token changes hands between seller and buyer wallets.
Increasing Returns Over Time
With every successive sale of the same painting, artists and stakeholders not only receive royalties but also witness a sustained growth in their income. As the artwork appreciates in value, Art Lock's automated system calculates
and disburses escalating amounts proportionate to the rising sales prices, ensuring a fair and sustainable revenue flow over time.
Forever Income for Artists and Stakeholders
Through Art Lock, artists and stakeholders enjoy a perpetual income stream. The interconnected token and art piece create a system where revenue continues to flow to the artist and relevant stakeholders with each successive sale, establishing a lasting and rewarding partnership.