We are developing Startrail, an infrastructure for the distribution and evaluation of artworks, for a thriving fine arts ecosystem by furthering its trust and credibility.
This infrastructure provides an environment which actors around the world can access and where they can manage provenance of artworks and comply with the rules together.
The traditional certificate management system has many risks, such as tampering, copying, counterfeiting, and losing. These risks are detrimental to the credibility of the art market and the value of an art piece that depends on the evaluation in the secondary distribution. Players involved in the secondary art market often spend a considerable amount of time and money on background checks and rights management of an art piece to secure its credibility.
Startrail, the blockchain network for art, can solve issues like the above in the art market.
By issuing a Startrail Registry Record (SRR) for an artwork, every time it is bought, sold, given, displayed, stored, or restored, such information will be automatically recorded on SRR. The tamper-resistant and transparent nature of the blockchain ensures the authenticity of those pieces of information, thus protecting the true value of the artwork.
SRR also allows artists to set their own rules regarding the distribution and the transaction of their work. Therefore, if desired, the artist can automatically earn profits generated at the secondary distribution as a royalty-type revenue.
Startrail is a platform that all art businesses can connect to across services. By distributing SRRs along with artworks, we will connect both non- and for-profit art-related services around the world and automatically record the provenance of all artworks. With this new art infrastructure, we will realize a world where secondary distribution and use of the artworks become easier.
To ensure its independence and fairness, Startrail will be operated by “The Startrail Consortium,” a voluntary organization led by Startbahn. In the future, we plan for this consortium to be jointly led by multiple experts, companies, and organizations.
The white paper of Startrail was released in 2019 to give a full picture of the project including its vision and specifications.
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