LTArt & NFTs: How do we apply them to fractional ownership?

In this short article, we explain the unique way LTArt uses NFTs in their fractional ownership projects.

9 August, 2022

At LTArt, our approach to the use of NFTs is quite unique. Most companies and brands apply NFTs to crypto-images, perceiving them as assets, as is done for Cryptoart. However, we use them solely as smart contracts, certifying the co-ownership of physical artworks through the purchase of art shares on the blockchain.

This is done according to a meticulous, step-by-step process:

  1. A smart contract is created on Polygon, an eco-friendly blockchain, which we have partnered with.
  2. Art shares are minted in the form of NFTs of equal value, but uniquely recognisable. These serve as the certificate of co-ownership, tracked and secured on the blockchain.
  3. Once the Art Shares have been purchased, they are accessible in the user's wallet, along with the digital documentation related to the artwork.

Our CEO, Francesca Casiraghi, explains the process in detail in our latest short video. Click below to watch it now.

Aurelia Clavien

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