Artfi is a Web3 company that fractionalizes high-value fine art, offering it to the public as NFTs for collective ownership, trading, and celebration. Founded in 2022 by art gallerist and connoisseur Asif Kamal, Artfi aims to democratize access to blue-chip art.
Artfi NFTs represent a share in the underlying artwork. If the artwork is resold by Artfi in the future, the sale proceeds (after a commission) will be distributed proportionally among the NFT holders. For instance, if a painting divided into 10,000 NFTs sells for $5 million (after commission), and you own two NFTs, you can redeem them for $1,000 worth of stable coin or ARTFI tokens.
The price of Artfi NFTs during a public sale reflects the fair market value of the artwork, as assessed by Artfi and external art market experts. Artfi only accepts consignments at market value and does not engage in purchasing and reselling ("flipping") artworks.
After purchasing an Artfi NFT from a public sale, its price is determined by the secondary market. The value of the NFT may fluctuate based on the underlying artwork’s value and market perception. Despite these fluctuations, Artfi NFTs are always redeemable for proceeds from the future sale of the corresponding physical artwork.
Artfi's team of experienced art market professionals will determine the best time to sell the artworks. The timing of the sale is based on market conditions, with the goal of achieving equity market-beating returns for NFT holders. However, future profits cannot be guaranteed.
Artfi NFT holders earn royalties based on their role within the Artfi ecosystem. For detailed information on current royalty structures, please visit [https://artfi.world/how-it-works](https://artfi.world/how-it-works).
Artfi has strict criteria for consigning artworks. The artwork must have a market value above $1 million, verifiable authenticity, stellar provenance, and be aligned with Artfi’s long-term vision. Collectors or artists interested in selling their artwork through Artfi can contact management at consignment@artfi.world.
Artfi has strict criteria for consigning artworks. The artwork must have a market value above $1 million, verifiable authenticity, stellar provenance, and be aligned with Artfi’s long-term vision. Collectors or artists interested in selling their artwork through Artfi can contact management at consignment@artfi.world.
Artfi will custody the artwork in Dubai on behalf of all NFT holders until the artwork is sold. The proceeds from the sale will then be distributed to the NFT holders.
The $ARTFI token is a separate asset from Artfi NFTs and trades independently.
Artfi is incorporated in Saint Vincent and the Grenadines.
If the NFT collection does not sell at least 90% within 30 days, the full amount paid will be returned to the buyer. If more than 90% but less than 100% is sold, Artfi will purchase the remaining NFTs to ensure the collection is completely sold.
Artfi NFT holders are responsible for storing their NFTs in their own wallets. It is important to follow best practices for private key security.
Yes, please reach out to a moderator in the #technicalsupport channel on our Discord server, or email us at cc@artfi.world for assistance.
The Artfi Foundation is a dedicated entity established to support and oversee the mission of Artfi in democratizing fine art ownership. It plays a crucial role in ensuring that Artfi's activities align with its core values of accessibility, transparency, and innovation in the art world.
The primary role of the Artfi Foundation is to safeguard the interests of Artfi NFT holders and ensure the ethical and transparent management of Artfi's operations. This includes overseeing the custodianship of artworks, the execution of sales, and the fair distribution of proceeds to NFT holders.
The Artfi Foundation acts as a governing body within the Artfi ecosystem, ensuring that all processes related to fractional ownership, art sales, and fund distribution are conducted transparently and fairly. It also fosters educational initiatives to enhance public understanding of art investment and the benefits of blockchain technology in the art world.
The Artfi Foundation is governed by a board of trustees, composed of experts from the art, finance, and blockchain sectors. These trustees are responsible for making strategic decisions that guide the foundation's activities and ensure that Artfi’s mission is upheld.
The Artfi Foundation oversees the custodianship of all artworks represented by Artfi NFTs. It ensures that the artworks are securely stored in professional art facilities, often in locations like Dubai, where they are protected under stringent security measures until they are sold.
The Artfi Foundation advises on the timing and strategy for reselling artworks within the Artfi collection. It works closely with Artfi's team of art market professionals to determine the most opportune moment to sell, aiming to maximize returns for NFT holders while maintaining the integrity of the art market.
Transparency is a cornerstone of the Artfi Foundation’s mission. The foundation ensures that all transactions, from NFT sales to artwork resales, are fully transparent. It also provides regular reports and updates to NFT holders, offering insights into the performance and management of their investments.
The Artfi Foundation is funded through a portion of the commissions earned from the sale of fractionalized art pieces, as well as through donations and grants aimed at supporting its educational and operational activities.
Yes, the Artfi Foundation encourages public engagement, particularly from those interested in the intersection of art, technology, and finance. The foundation offers various educational resources and hosts events to foster a deeper understanding of the evolving art market and the role of blockchain in democratizing art ownership.
The Artfi Foundation is committed to pioneering new standards in art investment by promoting ethical practices, enhancing accessibility, and leveraging blockchain technology. By doing so, it aims to shape a more inclusive and transparent future for art investment, benefiting both artists and investors.
Artfi is built on the Sui blockchain, chosen for its scalability, speed, and security. The Sui blockchain ensures that Artfi NFTs are securely managed, transactions are processed quickly, and the platform can handle a large volume of users and trades efficiently.
Artfi chose the Sui blockchain for its high-performance capabilities, scalability, and security features. Sui's architecture allows Artfi to efficiently handle large-scale transactions, ensuring that fractional ownership of fine art is both secure and accessible to a global audience.
Currently, Artfi NFTs are designed to operate on the Sui blockchain, which is optimized for their specific needs. While cross-chain functionality is a topic of ongoing research in the blockchain community, Artfi NFTs are presently best supported on Sui.
The Artinals Protocol is a cutting-edge platform designed to empower creators and developers within the Sui Ecosystem. It offers a no-code solution for managing digital assets, allowing for the seamless integration and handling of both fungible and non-fungible tokens within a single contract on the Sui blockchain. Artfi is using the Artinals Protocol because it simplifies the management of digital art assets and enhances the security, scalability, and compliance of these assets. The protocol's advanced features, such as royalties, batch transactions, and creator-specific admin rights, make it ideal for efficiently handling fractionalized art investments.
