MANILA, Philippines — Fundacion Sanso, the non-profit organization that preserves the legacy of master painter Juvenal Sansó is set to partner with Unit 256 Ventures Inc. under Artifract.
Artifract, is a pioneer of Fine Arts NFT in Asia, focused on helping art estates, museums, private collectors, and artists conserve Fine Arts, ensuring copyright of every piece and future-proofing of these collections via the blockchain technology.
The partnership aims to ensure the integrity and safety of all pieces of Fundacion Sanso for its future preservation. “Using this technology is very much aligned with our commitment to safeguard and promote the legacy of Presidential Medal of Merit Awardee, Master Juvenal Sanso. Blockchain and NFT will help us ensure authenticity and provenance, and in the process, work against forgery. That way we also assure the collectors and the public of what are truly works of Master Juvenal Sanso,” shared Fundacion Sansó’s Director Ricky Francisco.
Artifract explained that they do not do digital arts; their NFTs or non-fungible tokens are all based on physically exclusive, archival pieces that comprise the very foundation of Philippine Fine Arts, allowing the pieces to be digitized, and fractionalized but will be kept by the estate or artist or owner.
“We produce the ONLY official minted version of every physical piece in the blockchain hence the NFT, allowing traceability and authenticity through and through. So your physical Fine Art pieces can secure its existence in the metaverse & the blockchain. We allow access of every art and NFT enthusiast to the most valuable art collections of the Philippines,” said Stephanie Oller, Co-Founder of Artifract.
This project also answers the big gap in the art space when it comes to artists’ and estates’ rights to their pieces. According to Artifract’s legal counsel, AJA Law (Alcantara Joaquino Alcantara Law), “for the artists and the estates, the project allows for trackable royalties that are cryptographically secure. The nature of NFTs allow instant authentication and an ability to track the provenance and value even through subsequent transfers or sale of the asset in the digital marketplace. For patrons, investors, and collectors, this project promotes the democratization of access to Fine Arts. As a firm comprised of art-collectors and tech-enthusiasts, we believe that this is an exciting project and a step at the right direction for the local and regional art space.”
Artifract.io, owned by UBX and operated by Unit 256, is set to accommodate the growing demand for NFTs in the Philippines, a market that has been called as the hot spot for NFT ownership in the whole world.
Fundacion Sanso, under the chairmanship of Joaquin M. Teotico, Managing Director, Ricky Francisco, and the founders of Unit 256, Brian Poe Llamanzares, Marvin Agustin, Stephanie Oller, Edison Tsai, and Magellan Fetalino signed a partnership agreement on July 9, 2022, taking the next major step of High Art in the Philippines as it moves towards the future.
Subscribe to our daily newsletter
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.
For feedback, complaints, or inquiries, contact us.