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ArtWise brings Web3 to art ownership and trading

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Web3 promises to introduce an array of exciting innovations to the world; and augmenting ownership and streamlining transactions represent two of its most meaningful possibilities. ArtWise, an ArtTech grantee of the Cyberport Creative Micro Fund, has harnessed Web3’s capabilities and developed a platform destined to revolutionise how art is owned, traded, and experienced. 

At its core, this decentralised online platform serves as a hub for secondary art market professionals, advisors, sellers, enthusiasts, and collectors. ArtWise enables them to list, discover, and transact art deals within a framework of trust and transparency – and without the need for intermediaries.

The platform is powered by a suite of cutting-edge technologies, including an AI valuation tool that leverages global price trends for instant valuation; a blockchain ledger that records provenance and ownership history; smart contracts to securely facilitate instant ownership transfer; algorithms that match buyers based on preferences, purchase history, and budget parameters; and an AI art advisor chatbot for the curious and uninitiated. 

ArtWise was born out of its founders’ first-hand frustration with industry limitations. They intend to inspire a tech renaissance in the art market and foster transparency, accessibility, and inclusivity. At the same time, they are committed to creating a healthier global art market and reinforcing Hong Kong’s standing as the largest art market in Asia.

Cyberport’s support was essential for these tech-savvy entrepreneurs, who describe the incubator’s involvement as “instrumental in shaping ArtWise’s business model and technology adoption.” They are particularly grateful for the guidance, mentorship opportunities, and essential resources Cyberport provided.

The start-up celebrated a successful soft launch in November, attracting galleries and consultancies from Hong Kong, Singapore, the United States, and South Korea. Since then, over 300 businesses, including galleries and art advisory services, have joined ArtWise’s ever-expanding waiting list.

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ArtWise brings Web3 to art ownership and trading

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