NEM
$0.09131 0.65%
XEM · 26w

Maecenas is proud to announce that three major #blockchain protocols, including #NEM, are collaborating to achieve the first auction of a tokenized #Picasso masterpiece on its art investment platform. Check it out!👇

Major blockchain protocols to collaborate on Project Phoenix after launch with Ethershift and John McAfee

SINGAPORE, December 13, 2018 - Three major blockchain protocols, NEM, 0x, and MakerDAO are collaborating with art investment platform Maecenas to auction a tokenised Picasso painting.

0x’s exchange functionality, as well as NEM’s XEM currency and MakerDAO’s stablecoin DAI can now be used in auctions to make investments in fine art. Both XEM and DAI will now be accepted bidding currencies in Project Phoneix -- the Picasso auction launched last month by Maecenas, in collaboration with cryptocurrency exchange Ethershift and computer security expert John McAfee.

“The response to our launch announcement was overwhelming and we were delighted that such high-quality companies came forward to partner with us and provide vital elements such to make the auction of a tokenised Picasso painting a success.” Maecenas CEO Marcelo Garcia Casil said.

Maecenas held an unprecedented auction of a masterpiece earlier this year, tokenising a $5.6 million Andy Warhol painting. The Picasso sale will further advance the blockchain-based platform’s goal of democratising access to fine art investment through the auction’s extensive partnership network.

“We are pleased to support Maecenas in rolling out their upcoming Picasso auction. We believe the NEM blockchain is suited for such solutions that requires fast integration via our APIs and toolsets. We wish the team at Maecenas all the best and continued success. We look forward to future collaboration between Maecenas and our NEM blockchain to improve the global art world,” Stephen Chia, NEM Council Member & Regional Head, SE Asia, said.

The auction of the Spanish master’s painting will be held during the first quarter of 2019, allowing for the technology integrations needed to take best advantage of the three new blockchain partners. Details on the auction and the specific Picasso painting to be digiti...

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