Sui Foundation’s Latest Strategic Investment: ARTTOO, a Fine Art RWA Project on Sui
Grand Cayman, Cayman Islands, October 23rd, 2024, Chainwire
Arttoo will be launching a Real World Asset (RWA) art project built on the Sui blockchain. As a leading force in democratizing art ownership, Arttoo is revolutionizing the fine art market by building the financial infrastructure needed for a decentralized, on-chain art trading platform. By bringing masterpieces from iconic twentieth-century artists such as Henri Matisse and Claude Monet to the Sui ecosystem, Arttoo will allow individuals to invest in and trade fractionalized shares of these artworks.
Arttoo’s strategic partnership with the Sui Foundation taps into the ecosystem’s strengths, including its seamless user experience and simple wallet onboarding through features like zkLogin, which allows users to interact using just their email. This approach makes it easy for both institutional and individual art investors to participate. Sui’s high-performance network provides the infrastructure needed for real-time, 24/7 trading of fractionalized art ownership, addressing one of the core challenges of traditional art investing.
The founding team of Arttoo includes specialists from the art market as well as veterans of the blockchain ecosystem. “We are committed to developing an ambitious project on Sui that addresses significant real-world challenges by bridging the gap between the art and Web3 communities. This project will foster collaboration, drive innovation, and create a shared platform where artists and Web3 enthusiasts can come together to inspire, learn, and build a sustainable future through the power of creativity and decentralized technology,” says Christopher Min, founder of Arttoo and a generational collector of Modern art.
Jameel Khalfan, Head of Ecosystem Development at Sui Foundation, emphasized the innovative potential of decentralized ownership in the art world, stating, “Arttoo introduces an exciting new use case to Sui with on-chain fine art, making iconic masterpieces more accessible through fractional ownership. This project broadens access to art and highlights the transformative potential of decentralized ownership. I’m excited to see more people interact with art in this innovative way.” His remarks underscore how this initiative represents a pivotal movement towards democratizing art, enabling broader participation in the appreciation and investment of high-value artworks.
Arttoo recently completed its angel investment round, led by Formless Capital. “I’m thrilled to witness the collaboration between Sui Foundation and Arttoo. This partnership exemplifies our commitment to bridging the gap between real-world assets, the digital economy, art, and culture. Arttoo not only enhances accessibility and ownership in the art world but also aligns with our vision of empowering innovative solutions that redefine cultural experiences through the future of blockchain technology,” said Cecilia Li, founder of Formless Capital.
About Arttoo
Arttoo is building the cultural layer on Sui, focused on tokenizing real-world assets (RWAs) for modern art. Leveraging the capabilities of the Sui blockchain, Arttoo enables fractional ownership, making art more accessible to a wider audience while also generating liquidity for art investors. With a growing collection of significant twentieth-century modern artworks, Arttoo is democratizing the art market and building the cultural foundation for the decentralized internet.
Arttoo Homepage: https://arttoo.co.uk/
Arttoo Contact
MJ Zhou
CMO of Arttoo
mjzhou@arttoo.network
About Sui
Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed from the ground up to make digital asset ownership fast, private, secure, and accessible to everyone. Its object-centric model, based on the Move programming language, enables parallel execution, sub-second finality, and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications with unrivaled speed at low cost. Sui is a step-function advancement in blockchain and a platform on which creators and developers can build amazing user-friendly experiences. For more information about Sui, please visit https://sui.io.