AllianceBlock has announced its strategic partnership with ARTBANX to bring art-backed finance to Web3, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi).

AllianceBlock seeks to build transparent gateways between TradFi and DeFi through a trustless and decentralized infrastructure, while ARTBANX is an art collection management system for art professionals, collectors, and financial institutions.

This partnership is the first of its kind in the market that provides new ways for users to access liquidity for the unbanked or inaccessible asset class, eliminating the need for centralization. Using AllianceBlock’s infrastructure and ARTBANX technology, the new platform will unlock more possibilities for art collectors, allowing them to access liquidity for their physical art. The new platform will provide a simple way for collectors to access this liquidity. Additionally, this will open up more opportunities for the art community while opening up the ARTBANX marketplace to a broader Web3 audience.

Through the partnership, AllianceBlock, with the help of the Nexera Protocol infrastructure and the NexeraID suite of identity management tools, will enable the tokenization of physical works of art. The partnership will allow ARTBANX’s Web2-based technology to transition and integrate into Web3 using the MetaNFT standard seamlessly. The MetaNFT standard works with the AllianceBlock Nexera protocol. The transition will allow ARTBANX to take advantage of the inherent benefits of blockchain technology and third generation NFTs.

Commenting on the partnership, Mads Boie Thomsen, CEO and Co-Founder of ARTBANX, stated:

“We are delighted to announce our groundbreaking partnership with AllianceBlock, which is set to transform the art market through the power of cutting-edge technologies. By leveraging AI, we have seamlessly integrated the transactional records of millions of works of art, providing art collectors, investors and enthusiasts with unparalleled insights for informed decision-making in art-backed installment financing.”

The art market has experienced significant growth surpassing the $65 billion mark. The latest reports from Art Basel and UBS show that the art market in 2022 saw a 29% increase over the previous year. During this period, interest in digital arts, especially NFTs, exceeded $11.1 billion. This partnership will allow the growing community to participate in the burgeoning art market. By allowing participants to provide liquidity, the new platform will allow them to enjoy the benefits of tokenizing real-world physical assets.

Adding to the partnership, Matthijs de Vries, founder and CTO of AllianceBlock, further stated:

“This partnership is a great example of how companies can use our decentralized infrastructure to create new financial products and services. The association with ARTBANX, one of the world’s leading collection management systems, is a great step forward for the industry.”