"The announcement turned heads: US art collector Thomas Kaplan, owner of the Leiden Collection the world's largest private collection of 17th-century Dutch art plans to sell portions of his collection. Not the paintings themselves, however, but virtual shares in them. In Rembrandt's case, there are to be enough shares that even people with modest budgets could buy in. That raises the question: What does "ownership" really mean in this context?"
"Blockchain technology has opened new ways to own and trade art. Digital platforms now make it possible to divide artworks into virtual fractions that can be bought and sold individually a concept known as "fractional ownership." In the case of the Leiden Collection, what's being divided isn't the artwork but the ownership. No one investor owns a specific corner of a canvas; rather, everyone together owns the whole."
US collector Thomas Kaplan plans to sell virtual shares in the Leiden Collection, offering fractional ownership of 17th-century Dutch artworks rather than physical paintings. Digital platforms and blockchain technology make it possible to divide ownership into virtual fractions that can be individually traded. Shares do not correspond to specific parts of canvases; they represent shared ownership of entire works. Kaplan intends to retain a majority stake so the collection can continue to be lent to museums. The scheme could allow thousands, possibly millions, to hold ownership stakes in Rembrandt works, raising questions about the meaning of ownership. Buyers pursue art for personal enjoyment or investment.
Read at www.dw.com
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