Tokenize an Art Asset on the Blockchain

How easy is it for an artist to create a token or asset to represent a real piece of art on the blockchain?

We’ve all heard the claims about how blockchain or distributed ledger technology will help artists protect the intellectual property to their created works. In fact, this seems to be one of the more obvious use cases for the blockchain. There are some registries opening as businesses to allow artists to register a token through their service. A down-side to this is it often requires a a considerable fee and it takes control from the artist and gives it to a third party in a space that is just developing and reputations are not yet established among these new businesses. If the registry business closes, then what happens to the asset?

Creating a Token is so Easy Any Artist Can Do It!

What if I told you that I know of an easy solution to asset creation that can be done by the individual artist, directly on the Ignis blockchain, without the need for a third party. In fact, I’ve been waiting for some time to stop talking about it and actually create an asset to represent a piece of original work that I created. Today was that day.

Earlier this morning, I visited the Old Library at Trinity College in Dublin, Ireland. There I toured the Large Hall full of collectibles and saw the Book of Kells. The Book of Kells has been on my “must see” list for years since my interest in calligraphy and illumination started at thirteen years of age — long before my interest in blockchain. I have had the privilege to study under two Master Calligraphers and even teach calligraphy and illumination myself. I still have many of my original art pieces and sell high quality prints privately.

Let’s Create a Token in Less Than 10 Minutes

Finishing up a tour in several countries teaching people about blockchain and ending at Trinity College inspired me. I grabbed a cup of coffee and opened my laptop at the Perch Cafe and looking across my monitor and a grassy lawn at the stone edifice holding so many priceless and rare collectibles I created my first asset token representing a piece of art. Here is a video for you to watch how easy it was for me to do this in less than 15 minutes (assuming blockchain has been downloaded). Alternating sun and shadows and wind in my hair aside, I’ve decided to share this with you because it is just that easy!

Get Started Creating Your Asset Token on the Ignis Blockchain

To get started, you will need to download a copy of the Ardor Blockchain Platform that holds the Ignis blockchain. Don’t worry, this won’t take you days like Bitcoin or Ethereum. With a good internet connection you can download it in about an hour. When you are ready to set up your first account you can go to marker (2:02 ) in the video. Use the glossary of video markers below to find further information about creating an asset on Ignis.

Create your account (2:02)

Fund your account (3:56)

Set an account name (5:20)

Create an alias (6:50)

Create an asset in less than 2 minutes (8:01)

Discover API Console (9:17)

Transfer your asset (10:33)

List art for sale on the Ignis Marketplace(11:27)

A look at the Marketplace (12:57)

List asset for sale on Ignis Asset Exchange (14:02)

Limitations of Token Creation on a Blockchain

There are limitations to creating an asset that represents a physical work of art on a blockchain, namely how to prove that a particular asset belongs to a specific physical piece of art. This topic will be discussed in a future article.

You’ve Created Your First Tokenized Work of Art, What Happens Next?

Congratulations! You have created your first tokenized work of art. Now what? If you want to sell it, list if for sell on the Asset Exchange or on the Marketplace on the Ignis blockchain. In your advertising you can point people to the exchange or take care of this at the Point of Sale. It is up to you to protect your ownership of your art and to hold it or offer it for sale. I wish you the best success in your future creativity!

Just one more thing, after you have tokenized your asset, I would love to hear about it. Tweet at me @TheCryptoWoman or drop me a note in the comments below.

Tokenize an Art Asset on the Blockchain was originally published in Good Audience on Medium, where people are continuing the conversation by highlighting and responding to this story.