Freeport: A New Era of Art Investment Begins

Freeport is democratizing access to blue-chip artworks, making them available to everyone. But how is this possible? The startup is breaking down barriers that separate potential investors and art, with a primary focus on the financial component.

Freeport utilizes blockchain technology to accomplish its platform mission. Project representatives must resolve a series of sequential tasks before users can invest.

Experts assess and purchase physical artworks, with special attention given to offerings that have the potential to yield maximum profit for their owners.

 

Afterwards, a holding company is established for the artworks and shares are issued. The process is always accompanied by the submission of documentation to the SEC. This allows for the official sale of shares as securities backed by physical assets and represented as tokens on the Ethereum blockchain. 

Having obtained approval from the SEC, Freeport conducts an initial public offering, enabling investors to purchase any quantity of shares. Obtaining partial ownership of artwork can be done with just a few clicks. Platform users need to select the number of shares, choose a payment method, complete KYC verification, and finalize the payment.  

Freeport intends to establish an intimate community of collectors, hence the initial public offering of shares for each artwork is restricted to only 1000 investors.

Investors shall be able to divest their shares once a secondary market for licensed securities trading is established, but they are not required to do so. Shareholders can retain their shares until the artwork is resold, if they wish.

The founders of Freeport believe that the typical duration for which fully insured physical assets are held ranges from three to seven years. Nevertheless, they do not exclude the possibility of selling artworks earlier if more advantageous deals arise for investors.

The profit obtained from the sale is distributed proportionally among the shareholders and returned to them along with their initial investments. Afterwards, the tokens are burned and the holding company is liquidated.

One of the unique features of the Freeport platform is its proprietary immersive 3D space, where users can showcase not only their artworks, but also their personal NFTs.

Collectors can choose paintings, rearrange them, and even visit galleries of other community members. Developers say 3D space encourages communication among users through features such as likes and comments, according to developers.

The platform's initial offering will include iconic pieces by Andy Warhol. The exclusive collection will feature reproductions of his famous paintings, including "Marilyn" (1967), "Double Mickey" (1981), "Mick Jagger" (1975), and "Rebel Without a Cause (James Dean)" (1985). Those interested in these artworks can join the waiting lists.