April 14, 2023

Arcana Onboards Artfi: Alternative Investment Platform for Fine Arts

Arcana Network partners with Artfi, an alternative investment platform for fine arts, to bring transparency and accessibility to the art market on Web3.

Arcana Onboards Artfi: Alternative Investment Platform for Fine Arts

Darkweb v2.0 public release is here

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What has changed in our latest release?

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All new features available for all public channel users

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Coding collaboration with over 200 users at once

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Real-time code save every 0.1 seconds

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In our effort to onboard great partners and support them in their web3 journey, we have partnered with Artfi, a company that allows users to invest in fine art onchain.

Artfi is democratising the fine art industry by harnessing the power of NFTs and blockchain technology. Artfi allows investors to own a stake in some of the world's most sought-after works of art. The financial industry is currently at the precipice of a seismic shift towards tokenising all assets. Artfi is operating at the vanguard of this generation-defining process to redistribute fine art ownership through the tokenisation and fractionalisation of physical works of blue-chip fine art.

Artfi is built on Polygon, and their Genesis NFT Offering will tokenise a Sacha Jafri painting. Jafri is on the list of top-five highest-selling living artists. Last year, his incredible painting “Journey of Humanity,” recognised by Guinness as the world’s largest art canvas, sold for $62 million at an auction in Dubai. Artfi’s collaboration allows art lovers and investors to co-own a physical Sacha Jafri painting and participate in the market for his artworks at fractionalised cost.

How does Artfi align with Arcana’s mainnet?

For Artfi to reach the goals of democratising fine art collecting, it needs seamless onboarding. Hence they will be using Arcana Authentication SDK. Arcana’s web3 Auth SDK helps onboard users with familiar web2 social authentication or passwordless authentication without having to set up wallets and manage keys.

Once onboarded, users get a Web wallet that doesn’t need installation. This web wallet can trade, store, and stake NFTs per Artfi’s use case. Artfi will be able to onboard non-web3 native users who are unaware of how to manage keys without friction. Artfi will also use Arcana’s private NFTs infra to set up their NFT investing marketplace. Private NFTs are built on top of Arcana’s Access Control. Private NFTs are owner-controlled NFTs that are just like standard NFTs with public image and metadata, but they also include an additional DID link to an encrypted file that only the owner of the NFT can decrypt.

As a part of our onboarding commitment, we will be helping Artfi by supporting them in areas around product, growth and community building and helping them launch on Arcana’s Mainnet.

Quote from Artfi

“Artfi is bringing blue-chip fine art collecting to the masses for the first time. It’s a mission of historic proportions that requires the best user experience. By partnering with Arcana, we are making it easy for new users to create a Web3 wallet and build a portfolio of top-tier art.”

Asif Kamal, Artfi Founder

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About Arcana Network

Arcana is Web3 infra for devs to launch and scale apps through its Auth, Store, and Access SDKs. Web3 apps use Arcana's SDK to authenticate users with Social and Passwordless Auth and create non-custodial wallets, Store Encrypted/Unencrypted Data, and Manage Access. Built for Ethereum and EVM-based chains, with Arcana's privacy stack, developers can build secure and privacy-preserving apps with a seamless user experience.

Arcana has raised 2.7Mn USD from some of the leading investors and founders in the ecosystem, such as Balaji Srinivasan, Founders of Polygon, Woodstock, Republic Crypto, and Digital Currency Group.

Watch out for Arcana's upcoming Mainnet in December 2022. Want to know more about our Mainnet features? Book a demo.

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