Applications are open to artists in BETA mode
London, England, 29.12.2020. In 2019, Maryna Rybakova’s team founded Artisfact Limited, an English start-up operating in the online art market segment, which arises from the fusion of art, business and technology. Currently, its key project is Artsted, a global online sales art marketplace working on encouraging fairer trading relationships between artists and collectors. Based on innovative Art Investment tools, Artsted fights for solving confusing and information asymmetries in the art market, supporting the direct connections between the artists and collectors looking for investment grade work.
The reason why Artsted focuses on emerging artists is not only because they are the present and future, but, for years, their markets have been manipulated by the vaguest art market’s issue: price formation. What Artsted proposes is to deal with the price fixing problem by offering a more effective system using non-transactional data analytics and charts based on artists’ CV entries, calculated using a transparent algorithm.
Once an artist joins Artsted, they are immediately able to create a digital track record that later develops over time to reflect their career performance progress. At the same time, this tool also benefits collectors, as they are provided with instant analytics and evaluations with real-time market updates. In addition, the platform provides targeted advertisements to favour creators’ visibility and sales. The best part is that all these services are free for the artists.
Besides the technology aspect -the accurate price formation method-, Artsted differs from the rest of art market companies by its proximity and transparency values: unlike physical galleries who take up to 50% in commission on each sale, Artsted reduces it to 35% on behalf of the artist.
Ultimately, Artsted’s major objective is to nurture emerging creators’ careers, letting them operate as self-auditors as they make their way up the global art market.
Artists are welcome to sign up for the test version platform for free, making an inquiry to firstname.lastname@example.org with “Artist Application” in the subject line.