The Royal Museum of Fine Arts Antwerp in Belgium is working with two blockchain companies to tokenize Carnival of Binche, a €1 million painting by Belgian artist James Ensor, so that everyone can become a “co-owner” of the masterpiece.
The museum has decided to tokenize the painting on Polygon’s blockchain network (MATIC), and so everyone will be able to “own” this work of art. The Royal Museum of Fine Arts is the first European museum to tokenize a work of art to democratize art investment, this means that anyone could own this artwork if they are a fan of it.
The Museum hopes to change the stigma around buying art. For decades, it has been wealthy private collectors who have been buying art, but now the Museum wants everyone to have equal access to art.
In this case, for the Binche Carnival everyone can become a co-owner for a starting price of 150 euros. This is important news, because now everyone will be able to own a part of their favorite creations.