Post
Topic
Board Announcements (Altcoins)
Re: [ANN] [ART] Maecenas: First ever fine artwork to be auctioned on the blockchain!
by
SimpleMan
on 06/08/2018, 22:14:29 UTC
Is there a mechanism for a painting sold for ART to be resold to a single owner. Eg. someone buys shares in the Warhol but loses the private key, how can a future investor fully own the piece?

Yes this is covered in the terms of the SPV when it's created. They know the identity of everyone who co-owns the Warhol so you can never lose your investment due to technical problems because there is an offline old fashioned paper record of it in custody of an official agent.

Is it therefore not possible to anonymously own a piece of art if bought on Maecenas? There is always someone who has the information right?

They can. But they won't necessarily get a better deal if they want to, because by buying shares they would push the price up

Isn't that anyway the case that the price goes up if a lot of people want to buy? You could have zero knowledge proofs like someone who wants to buy and places an order is not known but the order and the piece of art or the share in that art is known.