Arttoo Launches Fine Art RWA Project on Sui Blockchain

[PRESS RELEASE – Grand Cayman, Cayman Islands, October 23rd, 2024]

Arttoo is set to unveil an innovative Real World Asset (RWA) art initiative on the Sui blockchain. As a pioneering entity in democratizing art ownership, Arttoo is transforming the fine art industry by establishing the necessary financial infrastructure for a decentralized, on-chain art trading platform. By integrating masterpieces from renowned twentieth-century artists like Henri Matisse and Claude Monet into the Sui ecosystem, Arttoo enables individuals to invest in and trade fractional shares of these valuable artworks.

The collaboration between Arttoo and the Sui Foundation leverages the ecosystem’s advantages, such as an intuitive user experience and straightforward wallet onboarding with features like zkLogin, allowing users to participate using only their email. This streamlined method facilitates engagement for both institutional and individual art investors. Sui’s high-performance network cultivates the infrastructure for real-time, round-the-clock trading of fractional art ownership, addressing one of the primary challenges faced in traditional art investment.

Arttoo’s founding team comprises experts from the art industry alongside seasoned professionals from the blockchain sector. “Our commitment lies in creating an ambitious project on Sui that confronts meaningful real-world issues by uniting the art and Web3 communities. This venture will promote collaboration, inspire innovation, and establish a collective space where artists and Web3 supporters can connect, learn, and construct a sustainable future through creativity and decentralized technology,” states Christopher Min, founder of Arttoo and a generational collector of Modern art.

Jameel Khalfan, Head of Ecosystem Development at Sui Foundation, highlighted the groundbreaking possibilities of decentralized art ownership, remarking, “Arttoo brings a thrilling new application to Sui with on-chain fine art, enhancing access to iconic masterpieces through fractional ownership. This initiative expands the reach of art and showcases the transformative capabilities of decentralized ownership. I am eager to see more individuals engaging with art in this groundbreaking fashion.” His comments underline how this project marks a critical step towards democratizing art, allowing broader involvement in the appreciation and investment of high-value artworks.

Arttoo has recently concluded its angel investment round, with leadership from Formless Capital. “I am excited to observe the synergistic relationship between Sui Foundation and Arttoo. This partnership illustrates our dedication to bridging the domains of real-world assets, the digital economy, art, and culture. Arttoo not only amplifies accessibility and ownership within the art realm but also aligns with our vision to empower innovative solutions that redefine cultural experiences via the future of blockchain technology,” stated Cecilia Li, founder of Formless Capital.

About Arttoo

Arttoo is constructing the cultural layer on Sui, emphasizing the tokenization of real-world assets (RWAs) in contemporary art. By utilizing the Sui blockchain’s capabilities, Arttoo facilitates fractional ownership, making art more approachable for a broader audience while also enhancing liquidity for art investors. With a growing assortment of pivotal twentieth-century modern artworks, Arttoo is democratizing the art market and establishing the cultural foundation for the decentralized internet.

Arttoo Homepage: https://arttoo.co.uk/

Arttoo Contact

MJ Zhou

CMO of Arttoo

mjzhou@arttoo.network

About Sui 

Sui is a groundbreaking Layer 1 blockchain and smart contract platform developed to make digital asset ownership swift, private, secure, and accessible for all. Its object-centric framework, built on the Move programming language, allows for parallel execution, sub-second finality, and intricate on-chain assets. With horizontal scalability in processing and storage, Sui accommodates a diverse array of applications while providing unmatched speed at low costs. Sui represents a significant leap in blockchain technology, serving as a platform for creators and developers to craft exceptional user-centric experiences. For further information about Sui, please visit https://sui.io.