Grand Cayman, Cayman Islands, October 23rd, 2024,
Chainwire
Arttoo will be launching a Real World Asset (RWA) art project
built on the Sui blockchain. As a leading force in democratizing
art ownership, Arttoo is revolutionizing the fine art market by
building the financial infrastructure needed for a decentralized,
on-chain art trading platform. By bringing masterpieces from iconic
twentieth-century artists such as Henri Matisse and Claude Monet to
the Sui ecosystem, Arttoo will allow individuals to invest in and
trade fractionalized shares of these artworks.
Arttoo's strategic partnership with the Sui Foundation taps into
the ecosystem's strengths, including its seamless user experience
and simple wallet onboarding through features like zkLogin, which
allows users to interact using just their email. This approach
makes it easy for both institutional and individual art investors
to participate. Sui’s high-performance network provides the
infrastructure needed for real-time, 24/7 trading of fractionalized
art ownership, addressing one of the core challenges of traditional
art investing.
The founding team of Arttoo includes specialists from the art
market as well as veterans of the blockchain ecosystem. "We are
committed to developing an ambitious project on Sui that addresses
significant real-world challenges by bridging the gap between the
art and Web3 communities. This project will foster collaboration,
drive innovation, and create a shared platform where artists and
Web3 enthusiasts can come together to inspire, learn, and build a
sustainable future through the power of creativity and
decentralized technology," says Christopher Min, founder of Arttoo
and a generational collector of Modern art.
Jameel Khalfan, Head of Ecosystem Development at Sui Foundation,
emphasized the innovative potential of decentralized ownership in
the art world, stating, “Arttoo introduces an exciting new use case
to Sui with on-chain fine art, making iconic masterpieces more
accessible through fractional ownership. This project broadens
access to art and highlights the transformative potential of
decentralized ownership. I’m excited to see more people interact
with art in this innovative way.” His remarks underscore how this
initiative represents a pivotal movement towards democratizing art,
enabling broader participation in the appreciation and investment
of high-value artworks.
Arttoo recently completed its angel investment round, led by
Formless Capital. “I'm thrilled to witness the collaboration
between Sui Foundation and Arttoo. This partnership exemplifies our
commitment to bridging the gap between real-world assets, the
digital economy, art, and culture. Arttoo not only enhances
accessibility and ownership in the art world but also aligns with
our vision of empowering innovative solutions that redefine
cultural experiences through the future of blockchain technology,”
said Cecilia Li, founder of Formless Capital.
About Arttoo
Arttoo is building the cultural layer on Sui, focused on
tokenizing real-world assets (RWAs) for modern art. Leveraging the
capabilities of the Sui blockchain, Arttoo enables fractional
ownership, making art more accessible to a wider audience while
also generating liquidity for art investors. With a growing
collection of significant twentieth-century modern artworks, Arttoo
is democratizing the art market and building the cultural
foundation for the decentralized internet.
Arttoo Homepage: https://arttoo.co.uk/
Arttoo Contact
MJ Zhou
CMO of Arttoo
mjzhou@arttoo.network
About Sui
Sui is a first-of-its-kind Layer 1 blockchain and smart contract
platform designed from the ground up to make digital asset
ownership fast, private, secure, and accessible to everyone. Its
object-centric model, based on the Move programming language,
enables parallel execution, sub-second finality, and rich on-chain
assets. With horizontally scalable processing and storage, Sui
supports a wide range of applications with unrivaled speed at low
cost. Sui is a step-function advancement in blockchain and a
platform on which creators and developers can build amazing
user-friendly experiences. For more information about Sui, please
visit https://sui.io.
Contact
Sui
Foundation
media@sui.io