Blockchain and art firm plans a securities token offering

By Staff Writer

Blockchain in verification and storage of art is considered as one of the best use cases of the technology. Some companies such as Ethereum-based digital art platform, ArtID are going full steam ahead with their fundraising plans despite the disruption caused by the Coronavirus, according to media reports (see here).

The company has reportedly announced the sale of its Security Token Offering (STO) to raise 5 million euros in total to expand the platform.

The company hopes to provide artists new opportunities in the digital market.

This week, the Ethereum-based digital art platform, ArtID announced the start of its Security Token Offering (STO).

A total of one million euros will be raised via a public offering while additional four million to be used via private sales of company equity. The company has already reached its softcap of 580,000 euros this week.

The company already has over original 6000 artistic and limited-edition photographs. Each art is original and verified by blockchain. Helping raise the company funds is Kreston RS and the actual offering will take place on the Luxembourg-based STO platform – STOKR.The company hopes to provide artists new opportunities in the digital market.

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