2023-11-05 10:07:00
The French auction house Million has its lots digitally certified and ensures the traceability of the objects it sells thanks to the blockchain. The auction on Tuesday, November 7, 2023, Masters Decorative Arts of the 20th Century, constitutes the first application of this solution.
An NFC chip linked to the digital identity card in the blockchain
Million claims to be the first auction house to equip its lots with an NFC chip linked to a digital identity card of the object, secured on the blockchain. The solution was developed by Arteïa, creator of digital solutions for the art market.
The system aims to certify the authenticity of the property. The NFC chip linked to the digital identity card guarantees the authenticity of the works of art. The aim is to reduce the risk of counterfeiting. The solution improves the traceability of works of art, which can increase their value on the secondary market, particularly at auctions.
Strengthen transparency and therefore trust
On the other hand, collectors have continuous access to the details of the work, which should increase transparency and trust in the purchasing process. The application allows creating a communication channel between owners of works and the auction house, providing additional information on the artist and the work. The generation of a QR Code associated with the digital certificate facilitates rapid identification of works during exhibitions or storage management.
Arteïa insists on securing the system. The digital ID card is securely linked to the artwork itself using a unique NFC chip. It is designed in such a way that it self-destructs if you try to remove it from where it was placed, and it is impossible to duplicate. This solution therefore certifies that it is indeed this item which was sold and given to the buyer, with the information from the sales sheet.
An identity card containing multiple information
The digital identity card can contain all essential information such as the photo of the work, the name of the artist, the title, the date, the mediums, the dimensions, and other elements to precisely identify and describe the work. It may also contain a secure digital copy of a certificate of authenticity or a CITES certificate.
When the NFC chip is scanned using the free Arteïa Authentication application, it provides access to the digital identity card and a private web page called VIP Room, specially created by Millon. This page can contain additional information regarding the work or the artist, videos, or the result of the sale, thus establishing a new channel of communication between the owner of the work and the auction house.
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