“Art is for all. It should not be a monopoly or in the possession of a few select people.” – Henry Moore
For years the thought of owning art by legends like Picasso, Banksy, or Warhol was unrealistic for most people, with masterpieces locked away in private collections or major galleries. This reality created a gap in who could participate in and shape the art community. 10101.art emerged to bridge this gap, harnessing blockchain technology to make art ownership possible and affordable for anyone around the globe. Our mission was straightforward: open up the art world, making it accessible to everyone, everywhere.
Within the past year, we have launched our platform, successfully conducted the first sales of Banksy’s ‘Turf War’, and are preparing for the official platform launch event in our partner gallery Monada Art in Dubai.
However, we have never shared the whole story of our project and how we arrived at what we have today. Today, we want to change that and take you behind the scenes of 10101.art.
The Genesis of the Idea
The journey of 10101.art began in early 2022. Our founder, Irina Garasymiv, saw the emerging interest in blockchain technologies and Real World Asset (RWAs) tokenization not just as a passing trend, but as a foundation for a new chapter in art ownership. She envisioned moving beyond the traditional, individual ownership of art to a shared experience made possible and secure through blockchain.
This vision is built on blockchain and RWA tokenization’s unique ability to enable collective ownership seamlessly and securely. In the context of 10101.art, blockchain acts as a transparent digital ledger, recording every transaction. This means when you purchase a token representing part of an artwork, that transaction is permanently recorded. Your ownership of the art piece is secure and transparent, bringing a level of trust to collective ownership that was once hard to come by.
Furthermore, our specific use of RWA tokenization divides a physical artwork into digital tokens, each representing a partial ownership of an original artwork itself. Smart contracts on the blockchain detail and automate the specifics of this ownership, clarifying and ensuring each token’s holder gets a fair deal.
By integrating these technologies, 10101.art tears down the usual barriers to art ownership, such as high costs or the need for exclusive access. They make it possible for anyone to buy, sell, and own art collectively, securely, and transparently.
‘By democratizing access to art, we ensure that beauty and culture can be shared by all, not just held by a few. It’s about making legendary art reachable for everyone to enjoy,’ – says Irina, and that is what 10101.art’s mission is all about.
What We Have Gone Through in the Past Year
Following this vision, we began our journey, eager to transform how art is owned and appreciated. Over the past year, we encountered a mix of significant achievements and tough challenges, each step teaching us valuable lessons and bringing 10101.art closer to our goal.
The vision quickly began to attract brilliant minds. Notably, Alina Krot joined as CEO, bringing her extensive ten-year expertise in finance and Web3 to steer the project forward. This period buzzed with activity as we onboarded lawyers with international experience, marketers, and developers, laying the groundwork for what was to come.
Winter-Spring 2023: Strengthening and Developing
- Legal preparation and logistics: First, we began creating our unique legal framework (you can learn more about it in our article) working on all the necessary legal intricacies, securing licenses, and registering the company.
- Building a collection: We got the first Dali painting after thorough expertise and declining dozens of paintings. Then within just a few months the collection expanded with works by Picasso, Banksy, Warhol, and Gus Van Sant.
- Joining top industry events: 10101.art started making waves at key forums and events, notably marking our presence at the Blockchain Life 2023 Forum among others, significantly broadening our community.
- Preparing for the gallery opening: Behind the scenes, we were busy preparing for the grand opening of our partner gallery, Monada Art, in Dubai. This involved extensive logistics planning for the transportation of artworks, meticulous attention to gallery design and setup, and navigating legal intricacies.
Summer-Fall 2023: Project Launch and First Steps
- Transporting masterpieces to the gallery: Transporting masterpieces to the gallery was a mission we approached with diligence and care, partnering with Crown Fine Art. After a thorough selection process, we entrusted them with the storage and transportation of our artworks. Their reputation for handling art with the utmost care ensured that each piece arrived at Monada Art Gallery in pristine condition, ready to be admired by art enthusiasts and collectors.
- First Banksy sale and official platform launch: The much-anticipated launch on November 27th saw the Banksy ‘Turf War’ presale selling out 300 pieces within two hours, marking a milestone in the official debut of 10101.art.
Winter 2024: Expansion and New Horizons
- Development of new features: In the early stages of our journey, we worked with a team of external developers. However, as 10101.art grew and our vision expanded, it became clear that to truly evolve and adapt swiftly to our community’s needs, forming our own in-house team was essential. Now, our development team is tirelessly innovating, crafting new features like the mobile app, fiat payments and DAO mechanics to enrich community engagement and lay the groundwork for future sales.
- Testing and optimization: Following the launch, our priority shifted to refining the platform based on user feedback, focusing on continual enhancements.
Over these two years, we’ve experienced incredible highs, faced challenges head-on, learned from our mistakes, and engaged deeply with our community and partners. Yet, none of this would have been possible without our dedicated team. Their relentless drive, creativity, and commitment have been the backbone of 10101.art’s journey.
The 10101.art Team
Our journey began with a small, but very passionate team of just four members dedicated to transforming art ownership. We picked our team members carefully, looking for a mix of skills and shared belief in our vision. What matters most is our common conviction that art should be accessible to everyone. Now, the 10101.art team consists of over 20 professionals, including art experts, lawyers, IT specialists, marketing and PR experts, and of course, the project’s CEO Alina Krot.
Alina Krot, has been at the helm of 10101.art.art since May 2022. Her ten-year experience in finance, coupled with her experience in blockchain startups and NFTs, has been crucial in guiding 10101.art’s strategic direction. Under her leadership, we’ve successfully launched our platform, assembled a talented team, and are on our way to the grand gallery opening, new sales, and innovations – but that’s definitely just the beginning.
Plans for the Future
As we look ahead, 10101.art is poised for an exciting future, with plans to further democratize art ownership and enhance community engagement. Here’s what’s on the horizon:
- Grand platform launch event: On April 15th, we’ll celebrate the official launch of 10101.art at our partner gallery, Monada Art, in Dubai. This event promises an array of entertainment, allowing guests to enjoy paintings by Picasso, Dali, and other art legends showcased on 10101.art platform in real life. Key figures from our team, including Irina Garasymiv and Alina Krot, will share project insights and future plans. As a special offer, attendees will have the unique opportunity to become legal co-owners of one of the paintings from our platform collection.
- Mobile App: Our upcoming mobile app will make it easier for users to explore, purchase, and manage their art tokens anytime, anywhere, bringing the art collection experience directly to their fingertips.
- Certificates for art owners: We’re currently working on creating official certificates for token owners to solidify their ownership in the real world, offering tangible proof of their connection to the purchased art piece.
- Banksy, Warhol, and Picasso sales: New sales and art pieces are coming soon, so that you can collect a portfolio of the masterpieces you like.
- Special Events for Owners: Exclusive events for token owners are in the planning stages, designed to foster community and offer unique experiences beyond the digital realm.
- DAO mechanics: We’re working on introducing a decentralized autonomous organization (DAO) to empower our community. Token holders will have the opportunity to decide the fate of the paintings, directly engaging with their pieces.
Each of these initiatives is a step toward our goal of rewriting the rules in the art market to make art more accessible globally. We welcome you to be part of our international art community that’s redefining art for the digital age.
And for those ready to dive in, don’t miss our FAQ section and onboarding article – a step-by-step guide to starting your art collection with 10101.art!