Lobus raises $6 million for an art management platform on the blockchain – ClearTips

Lobus raises $6 million for an art management platform on the blockchain – TechCrunch

The reopening of evidence of ownership in the fine arts markets has been one of the obvious real-world use cases of blockchain. But in recent months top auction houses have experimented with NXT and popular artists with the crypto medium, which seems more tangible than ever in the future.

The ex-Christie and Sotheby’s team at Lobus aim to combine blockchain tech with an asset management platform that hopes to bring manufacturer-friendly mechanisms from the NXT marketplace like Superfair into the realm of physical art as well as art. Allow owners to retain partial ownership. The work they sell so that they can benefit from secondary transactions down the line. While physical art vendors have become accustomed to selling 100% of their work, seeing that value over time as it hands-on business, Lobus aims to maintain fractional ownership in those sales, ensuring that It seems that they are reducing sales. . This is a radical idea and a logical nightmare that is possible from the blockchain’s proprietary point of view.

“We are truly on a mission to make artists into owners,” Lobus CEO Sarah Wendell tells Sheryl ClearTips. “We’re really taking the best advantage of what we’re doing about ownership of NXT and asking questions to help build different ownership structures and disrupt this asset class.”

The startup is attaching these new mechanics to a wide-reaching state of the art asset management platform that they hope can entice users of the aging legacy software suite being used today. By combining strong proprietary evidence with tools such as CRM, analytics platforms and dynamic pricing, Lobus wants to give the arts market its Carta-like software platform that is acceptable to the broader market.

Lobus tells ClearTips that they have raised $ 6 million from Upside Capital, 8VC, Franklin Templeton, Dream Machine, Weekend Fund and BoostVC. Angels participating in the round include Rob Hayes, Troy Carter, Suzy Ryu, Rebecca and Cal Henderson, Henry Ward and Lex Sokolin.

A major goal for the team is removing the complexities of understanding what a blockchain is and instead focusing on what their technology can deliver to the network of art owners. While the NXT boom of the past few months has already produced billions in sales, efforts such as Lobus are attempting to cross the mechanics of crypto art with the global art market, putting stakeholders across the board on the same rung In an effort to keep. In addition to partnering with around 300 active artists, Lobus has also sold its platforms to collectors, artist estates and asset managers.

At this time, Lobus has about 40,000 art objects in its database, totaling approximately $ 4.4 billion in asset value in physical and digital goods.

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