Where is the loss of US$6 billion in the play market?

With the development of social economy and the promotion of traditional Chinese culture, the cultural self-confidence of the Chinese gradually returned, which in turn boosted the prosperity of antique Wenwan artwork investment. According to statistics, the ancient cultural artworks left by Chinese ancestors will not only create 300 trillion yuan of green GDP for China, but also benefit future generations.

According to relevant data, from 2008 to 2018, the overall increase in the domestic antique auction market was over 130%. Although antique auctions have gradually fallen into a low ebb after 2012, they have begun to pick up in 2017 and have entered a stage of high-quality and efficient development with emphasis on quality and quantity. According to the “Basel Art Market Report”, the Chinese art market is showing a strong development trend. In 2018, Chinese art sales accounted for 21% of the total global art market sales, becoming the world’s second largest trading market.

But behind the thriving industry, the chaos of art fraud, unidentified sources, and black-box operations in the auction market have deeply rooted in the industry’s concept of “water” and has continuously aggravated the credit crisis in the antiques market. From the masterpieces of ancient masters to the works of famous modern and contemporary artists, there are cases of imitation in varying degrees.

According to the research report estimates that the annual loss of global art and collectibles forgery and fraud caused by high 6 billion Meiyuan , accounting for almost one-tenth of the total of the art trade. It can be seen that a series of problems such as the serious lack of credit system in the art market, lack of transparency in transactions, and difficulty in traceability of items have caused great risks in the transactions of antiques and artworks. How to get rid of the industry’s “stigma” and truly bring out the value of one hundred billion yuan of green GDP is worth pondering.

Chaos in Wenwan Market

Antique cultural play and all kinds of modern and contemporary artworks are not only the precious cultural heritage and wisdom of mankind, but also the commodities that can be circulated in the market, which have huge cultural and economic value. However, its value mostly depends on the superimposed influence of multiple factors such as art, market, academia, and culture, which cannot be quantified specifically, and there is no uniform standard to refer to.

The primary problem that plagues the cultural relics and antiques industry is the prevalence of imitation. Driven by low cost and high profit returns, the counterfeiting of antique wenwan is developing towards a trend of specialization and groupization, and a large-scale and technological counterfeiting industry chain has gradually formed.

Take calligraphy and painting as an example. In the past, counterfeiters usually used ink to make fakes. It is easier for experts who know some ways to distinguish them after careful analysis. However, with the advancement of science and technology, counterfeiters have also begun to follow the technical route. High-tech counterfeiting methods such as watermarking, computer engraving, old mounting, and outdated announcements are popular, and it is difficult for ordinary collectors to judge with just their eyes.

Where is the loss of US billion in the play market?

Comparison between true and false left and right (picture source has painting art)

According to insiders in the industry, in this antique art counterfeiting and “whitewashing” industry chain: generally, the counterfeiting is first conducted by a more professional “manufacturer”, and then a relevant expert or institution is asked to issue a false authentication certificate, and then multiple operations are carried out. Packaging and promotion, finally relying on the transaction records of multiple auctions to give the work a “reliable” proof.

Secondly, because cultural relics, antiques, calligraphy and painting, etc. are all special commodities, buyers and sellers usually conduct transactions in accordance with the principles of voluntary sale, spot inspection, clearing of money and goods, and no remorse. It is easy to cause disputes that are difficult to resolve.

In addition, according to the relevant provisions of the “Auction Law”, if there is a problem with the Wenwan appraised by experts, neither economic nor legal responsibility shall be borne; the auction house or Wenwan store that provides the trading venue shall not be liable for the authenticity of the goods sold. “Responsibility. The lack of accountability mechanism also provides a “hotbed” for the proliferation of fake artworks.

Where is the loss of US billion in the play market?

Falsified Chinese painting (picture source has painting art)

It is not difficult to see that in this chain of literary play and fraud, huge profits continue to attract professional imitators, merchants, appraisers, and auction companies to join in. They “divide the spoils” in proportion and make high profits together. Because of the high prices of Wenwan artworks, counterfeiting is frequent, which not only reduces consumers’ trust in the market, but also greatly hinders the healthy and sustainable development of the Wenwan artwork industry.

Experts in the industry believe that to truly rebuild the order of the Wenwan art industry and create a prosperous, honest, healthy and standardized market, a set of quantifiable unified reference standards is indispensable, so that the price evaluation and appraisal of Wenwan art can be truly realized. The regularization and rationalization of

Blockchain reconstructs industry trust system

With the development of the times, mankind has entered the digital age from the Internet age. As the underlying technology with high expectations in the digital age, blockchain can record and store complete transaction information in real time, without the participation of third-party intermediaries, ensuring the security and transparency of information, and cannot be tampered with at will.

These features of the blockchain can provide a brand-new solution for the anti-counterfeiting and fraud prevention of Wenwan artworks, thereby ensuring the legal compliance of transactions, allowing Wenwan artworks to be truly “valued” and reconstructing the trust mechanism. And market ecology.

Let the fakes have nowhere to hide from the source

First of all, in view of the prevalence of counterfeiting, blockchain traceability technology can create a unique “identity card” for each piece of cultural and play artwork. Anyone can obtain the “DNA” of the work, which can be eliminated from the source. A series of problems such as high price, difficult management, and inability to trace the traditional cultural works of art due to information asymmetry. At the same time, it can also effectively support the coordinated development of insurance, mortgage, transaction and other financial derivative services in the art market, thereby promoting the win-win symbiosis of all participants in the entire industry chain.

Where is the loss of US billion in the play market?

VoneTracer transaction process traceability

For example, when an artist completes his work, he can upload his work, such as paper fiber, color and glaze craftsmanship, and other key information on the chain, and generate a blockchain traceability certificate containing the source code on the blockchain platform. By tracing the source code, all information about the entire life cycle of the work will be recorded forever and cannot be modified, ultimately ensuring that the “genuine” art can be circulated and passed on, and counterfeit products will never enter the market for trading.

Make the cultural relic identification certificate truly “reliable”

Any certificate used for the identification of cultural relics and artworks may be forged and tampered with, and the binding relationship between the certificate and the physical object is very loose. With the empowerment of blockchain technology, the physical objects and data can be bound to the greatest extent, because once the data is recorded, it cannot be forged or tampered with, which also proves the authenticity of the physical objects to the greatest extent.

For example, for the same piece of art, different experts may publish different appraisal results, and these appraisal results can be chained as a reference for buyers’ transactions. Because of the immutability of the blockchain and no third-party intervention is required, these identification results will also be preserved forever, accompanying the artwork for life. At the same time, experts can also supervise each other and be responsible for the appraisal results to prevent the forgery of appraisal certificates from the source.

It can be seen that as long as the authenticity can be determined at the source, individuals or institutions that attempt to fish in troubled waters with falsifications can be prevented from disrupting market order under the drive of profits, so as to truly achieve “removal of falsifications and keep the truths”, and avoid malicious commercial behaviors on the industry. The impact of healthy development.

Data information sharing, bid farewell to information islands

The content on the blockchain can be used by global related collective management systems and cataloging databases. For example, insurance companies, museums, courts and other related institutions can all realize real-time verification, the whole process is convenient and reliable, and has a wide range of application values.

In addition, the blockchain can also become a “bridge” between art museums seeking antique art and private collectors who wish to enhance the value of art through exhibitions. Put the complete ecological chain information of artworks on the blockchain to provide reliable information platform support for museums and private collectors. The technical characteristics of blockchain that are easy to share and permanently recorded will promote the transformation of the Wenwan art market from a private peer-to-peer transaction method to a public transaction method using the Internet as a medium.

Concluding remarks

With the development of the times today, people’s material life has been greatly improved, and people have turned to pay more attention to the pursuit of the spiritual world. More and more ordinary people are approaching the antique cultural and entertainment market, which will promote this niche “consumption” market to gradually move towards the mainstream, and further promote the diversified development of people’s spiritual and cultural life.

Where is the loss of US billion in the play market?

It is foreseeable that the blockchain will empower the development of the Wenwan art market, and there will be great commercial space in the future. As a one-stop solution provider of blockchain technology, Wangchain Technology will give full play to the unique advantages of blockchain technology, focus on the art industry, and use chain traceability, data sharing, deposit evidence and other applications The scenario continues to optimize the original transaction methods of the industrial chain, reconstruct the trust system, and use technology to support the digital transformation and high-quality development of the entire cultural industry.


Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/where-is-the-loss-of-us6-billion-in-the-play-market/
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