Optimized distributed ledger technology (DLT), means these guarantees are set and protected through transparent, on-chain verification. This ensures that every transaction, certification, and valuation change is recorded and accessible, reflecting DAX's commitment to transparency and authenticity.
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Every piece of artwork, before entering the DAX Registry, undergoes a rigorous review process, ensuring authenticity and merit. Through this meticulous vetting, DAX not only affirms the value of the art but also embeds it within an immutable guarantee — a floor price that stands the test of time and market shifts.
A robust mechanism designed to uphold the value of art by setting a minimum floor price for each certified artwork listed on the DAX Foundation Registry. This guaranteed floor price is not just a number; it's a pledge that the entire network makes to artists, collectors, and creators—a vow that the art's worth will be perennially respected, transcending the hot-and-cold waves of market trends.
Once an artwork is certified and admitted into the DAX Registry, it is assigned a floor or guaranteed sale price. This price, decided by either the submitting artist or collector, becomes an unchangeable backbone for the artwork's market journey. It establishes the lowest price the artwork can be sold for, ensuring that, regardless of the artwork's future sales channels or conditions, its foundational value remains untouched.
This innovative feature not only protects the interests of the creators but also instills confidence in buyers and collectors, knowing that their investments are hedged against unforeseeable dips in market valuation. Moreover, while the floor price sets the baseline, it does not cap the ceiling—the artworks can be auctioned and sold for prices well above this minimum guarantee, often reflecting their growing prestige and demand over time.
This is a statement meant to reverberate across the ecosystem. It ensures that the value of creativity and artistic endeavor is not just acknowledged but anchored firmly against the volatile tides of economic change. For artists, it provides a sense of security and validation for their work. For collectors, it promises a sustainable investment. And for the art market at large, it introduces a novel layer of stability and trust.
By marrying the timeless value of art with cutting-edge blockchain technology, DAX is not just revolutionizing how art is bought and sold; it's redefining the very essence of art valuation for the digital age. In doing so, DAX ensures that every piece of art in its registry is not just seen as a momentary object of desire but as a lasting emblem of creative worth—enshrined forever with a value that reflects its true significance.