It is hot! Blockchain Crypto Art, everyone wants to blockchain some kind of kittie, frog or high-value blue-chip fine art. What is the best way to tokenize and “blockchain” physical artwork?
Mona: I have created 323 paintings and I am still a starving artist. I love what I do but it is hard to make money.
Tim: Didn´t you just sell 5 paintings yesterday at your opening? That should get you over 30k!
Mona: The gallery is really slow to pay and they also will take a commission. I spent a lot of time and a lot of money on materials for those paintings. I will be happy when I am paid sometime this year.
Tim: Some time this year? What is the gallery doing with the money? Collecting interest at the bank?
Mona: You can not collect interest in a savings account since the interest is so low, but I have no idea what they are doing. Maybe the money went to the gallery hookers and blow fund and they need to sell someone else´s paintings so that they can pay me.
Tim: Sounds more like a ponzi than an art gallery.
Mona: It does but there is not a lot I can do about it. That is why I want to blockchain my paintings from now on.
Tim: What do you mean?
Mona: I want to create a blockchain token that is one of a kind, for each one of a kind painting that I do. Then I can sell the painting with the token and you have to have the token to own the artwork itself.
Tim: Wow that sounds really interesting. I have heard of bitcoin but this sounds really far out. How can I find out more?
Mona: I have already started to tokenize all of my paintings. Here check out this wallet. It has a token for most of my paintings.
Tim: That is wicked! I am not sure what it means but it sounds really cool.
Mona´s PHONE RINGS
Mona: Hello Mona speaking
Phone: Hi, I just bought your painting “New Kids on the Blockchain” I am wondering when I can expect delivery.
Mona: Sorry I am not sure what you are talking about. When did you buy it?
Phone: I bought it on the DEX the token named “Newkidsontheblockchain” and a website said that it goes with your painting. I paid 50k USD in ETH.
Mona: I don´t remember putting it up for sale.
Phone: What do you mean you do not remember? I just paid 50k in ETH for this. I want to know when I am going to get my painting!
Mona: I only posted on my website that I am selling my artwork with associated token assets. I did not say which token belongs to which artwork or where to buy them.
Phone: Well I bought one of your paintings and I expect delivery. I already have the token.
Mona: In my wallet I still have the token, I think you have the wrong token.
Phone: You are a scammer, I am going to go on reddit, twitter, telegram and the media with this story. You are done!
Tim: What was that all about?
Mona: Someone claimed that they bought my artwork, they bought a token on a decentral exchange and expect me to deliver the artwork that they say belongs to the token to them.
Tim: How could this happen?
Mona: All I wanted to do is blockchain my things.