AllianceBlock, building seamless gateways between TradFi and DeFi through decentralized and trustless infrastructure, announced on Friday, January 20th, that it has entered a&nbsp; strategic partnership with ARTBANX, the world’s most comprehensive, customizable and secure collection management system for collectors, art professionals and financial institutions.In a press release shared with Cryptowisser, AllianceBlock said the partnership is a first of its kind in the market and is another milestone in bridging the gap between Traditional Finance (TradFi) and Decentralized Finance (DeFi).The team explained that ARTBANX’s art collection management, market data and financing infrastructure enable art to become a bankable asset class, which will be expanded with a marketplace built on blockchain technology.Furthermore, AllianceBlock, with Nexera Protocol’s infrastructure and NexeraID’s identity management toolkit, will allow the tokenization of physical artworks and facilitate a marketplace for art.The collaboration will unlock more possibilities for art collectors by allowing them to access the liquidity of their physical art through a platform for real-world asset-backed financing with physical artworks as collateral.The teams expect the partnership to become huge in the long term as the latest Art Market 2022 Report by Art Basel and UBS revealed that the global art market grew by 29% year over year, growing by up to $ 65.1 billion in aggregate sales of art. The growth also included massive interest in digital art facilitated through NFTs topping at $ 11.1 billion.Utilizing ARTBANX’s technology stack and AllianceBlock’s infrastructure, this new platform will offer a more straightforward way for art collectors to access the liquidity of their assets while still maintaining digitally-represented ownership of the underlying.In addition to that, the MetaNFT standard powered by AllianceBlock’s Nexera Protocol will allow ARTBANX’s Web2-based technology stack to seamlessly transition and integrate into Web3, taking advantage of the inherent benefits of blockchain technology and third-generation NFTs.While commenting on this latest development, Mads Boie Thomsen, CEO &amp; Co-Founder of ARTBANX, said;”We are thrilled to announce our revolutionary partnership with AllianceBlock, which is set to transform the art market through the power of cutting-edge technologies. By leveraging AI, we have seamlessly integrated the transactional records of millions of artworks, providing collectors, investors and art enthusiasts with unparalleled insights for informed decision-making in fractional art-backed financing. This partnership is a prime example of how DeFi can be used to provide alternative financing options and bring us one step closer to making art a bankable asset class.”Matthijs de Vries, Founder and CTO at AllianceBlock, added that;"We are excited to partner with ARTBANX and take another step towards our mission to bridge TradFi with DeFi. The art market is a lucrative market and ripe for disruption. Using Nexera, we’re enabling a new financial model that preserves DeFi values; self-custody, transparency, decentralization, peer-to-peer, security and privacy while providing a more stable yield in a less volatile market. This partnership is a great example of how businesses can use our decentralized infrastructure to create new financial products and services. Partnering with ARTBANX, one of the leading collections management systems in the world is a big step forward for the industry."Participants would be allowed to access a more stable and less volatile market by tokenizing real-world assets. The two companies said they are committed to providing new ways for users to access liquidity for previously unbankable or inaccessible asset classes without the need of centralized entities.AllianceBlock is building seamless gateways between decentralized and traditional finance by remedying issues in both spheres and linking them more closely. The company see the future of finance as an integrated system in which the best of both worlds can work together to increase capital flows and technological innovation.Meanwhile, ARTBANX is the world’s most comprehensive, customisable and secure collection management system for collectors, art professionals and financial institutions. The revolutionary, industry-leading technologies that underpin the entire ARTBANX ecosystem enable us to make art a bankable asset class, unlock its value and empower financial decisions when trading art.

AllianceBlock and ARTBANX Collaborate To Bring Art-Backed Financing to Web3

Cryptowisser

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