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Smart Art Economy
Art Market Protocol
Smart Art Trade
Exchange Protocol
Smart Digital Art Objects
Certification Protocol

Smart Art Trade

The Smart Digital Art Object as defined by ArtCommodities.com is meant to strike a balance between the logic of an art market that thrives on privileging the unique object, and a contemporary visual culture that demands and is improved by increased public accessibility.

As such, each buyer receives both a public and privately encrypted version of the digital file. These dual iterations of each digital work allow for individual ownership, while at the same time enabling the public sharing of the work.

In a symbiotic relationship of financial and social value, the public dissemination and accessibility of these digital artworks will result in their increased social impact, which will in turn increase the monetary value of their private ownership.

General description of the Terms of Sale and Exchange

The Artist agrees to provide the following to the Buyer:

- The Digital Art Object (the “artwork”)

- A copy of the Contract signed by both the Artist and Buyer

- A Certificate of Authenticity

- Hash of artwork image

- Public encryption keys

These items must accompany the digital art object with any subsequent transfer or sale of the work and are required for proving the authenticity of the artwork.

The artwork may be reproduced under the terms of Creative Commons licensing for non-commercial use. The artwork may be exhibited in art and other public contexts.

The Buyer agrees to provide payment in full at the time of sale. Payments will be made directly to the artist, and not an intermediary such as an art dealer, unless where exceptions are noted.

The Buyer agrees to use the artwork at their own risk, and will not hold the artist liable for any damages due to the infringement of copyright, or other infractions within the artwork.

The Buyer agrees to fulfill the terms as explained in this Contract.

General description of the Exchange Protocol

- Agreement Pre-order: Prior to payment, buyers are required to agree that they will purchase the work. This stage is akin to a system of invoicing, where the expectation of a transaction is settled before money and goods are exchanged.

- Payment: Buyers will be directed through a payment system.

- Contract: As the sale of a work is confirmed, the buyer must agree to the terms of use and sale as described in an accompanying contract. This contract will address issues such as copyright control, reproduction rights, and the requirements for future transfer of the work.

Transfer of Work – Necessary Elements

- Digital Object: The actual digital file or physical render of it.

- Certificate of Authenticity: Each Digital Art Object is accompanied by a Certificate of Authenticity. This Certificate must accompany the work at all times, and contains all information required for transferring the work.

- Contract: This Contract must also accompany the Certificate of Authenticity at all times, and must be consulted regarding any future transfer, sale, and reproduction of the work.

- Hash of Artwork Image: This code comprises the digital artwork.

- Public Keys PGP and ID-HEX: These encryption keys are necessary for certifying the digital work. Both artist and buyer private keys or “signatures” must be combined in order to prove ownership of the work. The buyer can use a biometric signature or network metadata in alternative to the PGP signature.

- Artist Signatures: The authenticity of a work is ensured by the inclusion of an artist’s “signature,” which here takes the form of a unique encryption key. Each work will be given a public key and a private key. The artist can sell the encrypted digital art file, which makes the artwork accessible only with the collector's PGP key.

- Buyer Signatures: In order to verify the unique digital art object, this key must be combined with the artist’s private key, thereby ensuring the buyer’s exclusive ownership. However, the buyer also has access to a public key, which may be used for sharing public versions of the work while maintaining the integrity of the unique digital art object.

- Delivery of Artwork & Certification Documents: The artwork will be delivered as bundled digital files or in another manner as appropriate.

ArtCommodities.com is published by Paolo Cirio Ltd, a company Registered in England, number 8188080. Registered Office: Suite 36, 88-90 Hatton Garden, City of London, EC1 N8PG, UK. Paolo Cirio Ltd. alone is responsible and liable for advice, information and services provided to its clients through ArtCommodities.com.