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Art 3.0

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What is the value of art? Is its worth a measure of its beauty, its ability to express ideas and emotions, its potential as an investment, its power as a status symbol or merely what the art market dictates? Art 3.0 brings art ownership into the blockchain era. Not subject to the normal whims of the art market, the price (in ETH, the cryptocurrency of the Ethereum network) of Art 3.0 is algorithmically determined and proudly displayed at all times. It can be purchased using its decentralized app (DApp) at https://art30.neilmendoza.com. Each time it is sold, its value increases 50%. From this, the previous owner receives his purchase price plus 40% (hence a guaranteed profit if the piece sells), a charity of the exhibiting institution's choice receives 2.5% and the artist receives 7.5%. The current owner can request shipping of the piece once the previous owner has been in possession of the piece for four weeks or more.

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