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Paradigm Shift in the Arts Industry with Technological Inclusions

 

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Art Moments Jakarta (AMJ) held its inaugural art fair in Indonesia earlier this month, 3rd to 5th May 2019, at Sheraton Grand Jakarta Gandaria City Hotel, and made waves in the Southeast Asia contemporary art market. The highly successful event was attended by over 10,000 unique visitors, art collectors and art-lovers, having curated a strong and diverse group of artworks by some of the most sought-after international contemporary artists, including KAWS, Cyril Kongo, Mr., Banksy, Damien Hirst, Yayoi Kusama and Natee Utarit. A reported sales of US$ 6 million of sales was made over the span of the three-day fair. Many artworks were successfully sold; such as paintings from neo-pop Japanese artist, Mr., sculptures by Li Chen and G. Sidharta, and paintings from Banksy, Handiwirman, and Agus Suwage. Also held at AMJ was an Art Talk titled ‘Paradigm Shift in the Arts Industry with Technological Inclusions’, whereby Industry Experts, Arno R. Setiawan, Douglas Gan, Marcelo Garcia Casil, Belinda Ang, Daryl Goh, spoke in a panel moderated by Melin Merril.

In view of its success, a fresh new technology revolution was introduced to the art scene. Artworks can now be truly authenticated, replications can now be eradicated, with new Blockchain technology from BCB Global. Says Douglas Gan, CEO of BCB Global: “Imagine the future where every single artwork produced by an artist can be authenticated on the blockchain. The blockchain ledger can never be changed or altered by anyone. This enables the artist to truly authenticate their work, and by doing so, can make every particular piece more valuable than if it were to have multiple copies. Furthermore, if the artist were to tokenize themselves, their art pieces, projects and series that they are commissioned to do, this would enable the artist to fundraise and share their profits with their fans, project commissioners and art galleries.”

Read more about BCB Blockchain technology here

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