Ecosystem
Ecosystem
Inspired by the values of the ​Renaissance​​, our global venture is made up of a team of art, finance and technology enthusiasts with a keen eye for the mechanisms regulating the global art ecosystem and its players.
Born in 2007 as an ​Art magazine ​and expanded to ​Art e-commerce ​in 2013, Look Lateral has now developed ​an integrated solution for market needs: ​Fimart ​​(Fractional Marketplace of Art)​​.
This​ revolutionary platform is​ ​​a complete digital ecosystem based on blockchain technology and built on four main pillars – ​tagging, indexing, provenance​ and ​pricing​ – allowing users from all over the world to buy and sell ownerships of art.
This new environment is meant to encourage greater participation in art – with higher liquidity fostered in the market – both as an asset class and a cultural asset.
TAG
Look Lateral’s ​Signature Tag​​ is an extremely thin, high-tech adhesive label, which is easily and safely applied to the back of a work of art (without any damage to its surface) or directly onto its’ certificate of authenticity. It is reliable, since it can’t be transferred to a different work of art. Moreover, it can’t be replicated or cloned: every tag is unique. Finally, The ​Signature Tag​​ enables an artwork to be listed on Look Lateral’s ​Provenance Tag System​​, as well as ​Fimart​​ (Fractional Marketplace of Art).
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Look Lateral’s Signature Tag enables:
  • the permanent identification of an artwork;
  • the physical artwork to be securely linked to the blockchain database;
  • an ongoing upgrade of all stored information;
  • access to artwork-related information for both art world professionals and marketplace participants.
Look Lateral’s​ Signature Tag ​​allows marketplace participants and art world professionals to gain access to all artwork-related information within the database, thus increasing the artwork’s value and facilitating more transparent, trustworthy transactions. Artworks can be traded on Fimart, the revolutionary marketplace for everyone to buy and sell fractions of an artwork, and to invest in art as an asset. Look Lateral’s ​Signature Tag​​ is the artwork’s ID Card, a precious source of information paving the way to a new, game-changing ecosystem bound to increase the art market’s potential exponentially.
TAG
Look Lateral’s ​Signature Tag​​ is an extremely thin, high-tech adhesive label, which is easily and safely applied to the back of a work of art (without any damage to its surface) or directly onto its’ certificate of authenticity. It is reliable, since it can’t be transferred to a different work of art. Moreover, it can’t be replicated or cloned: every tag is unique. Finally, The ​Signature Tag​​ enables an artwork to be listed on Look Lateral’s ​Provenance Tag System​​, as well as ​Fimart​​ (Fractional Marketplace of Art).
Look Lateral’s Signature Tag enables:
  • the permanent identification of an artwork;
  • the physical artwork to be securely linked to the blockchain database;
  • an ongoing upgrade of all stored information;
  • access to artwork-related information for both art world professionals and marketplace participants.
Look Lateral’s​ Signature Tag ​​allows marketplace participants and art world professionals to gain access to all artwork-related information within the database, thus increasing the artwork’s value and facilitating more transparent, trustworthy transactions. Artworks can be traded on Fimart, the revolutionary marketplace for everyone to buy and sell fractions of an artwork, and to invest in art as an asset. Look Lateral’s ​Signature Tag​​ is the artwork’s ID Card, a precious source of information paving the way to a new, game-changing ecosystem bound to increase the art market’s potential exponentially.
PROVENANCE
When we talk about ​Provenance​​, we mean a work of art’s chronological record of ownership, custody, and exhibition history. A well-documented provenance is fundamental for experts to determine an artwork’s​ authenticity​​ and collectible significance. Gaps within an artwork’s provenance can lead to speculation about forgery and legitimacy. A thorough provenance ​increases the value​​ of a work of art, impacting its’ selling price in the market.
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A work of art’s value is affected by many factors:
  • the accuracy and trustworthiness of the provenance;
  • the historical record of ownership;
  • the certification that an artwork has not been illegally traded (or stolen) from another country/owner.
Additional contributing factors include: an artwork’s physical details (i.e. subject, style, signature, dimensions, frame), exhibition marks, dealer stamps, gallery labels, certificate of authenticity, indications of previous ownership (often adhered to the back of an artwork), and previous auction results. The Look Lateral​ Provenance System​​ not only records an artwork’s information on the blockchain, but also motivates the art world community to​ contribute​​ accurate artwork-related information such as: curatorial point of view, documents, transaction history, authenticity, condition reports. A ​‘bounty’ ​​is set by the holder of an artwork to reward those who provide accurate, reliable information. ​For example:​ when an expert makes an independent provenance declaration, other art experts are paid from the bounty pool to express their opinions regarding the validity of the information. If the community of experts vet the new information, the individual expert claims their LOOK bounty. Overtime, all information helps generate a ​provenance score​​.The resulting score reflects the quality of an artwork, taking into account the provenance information available. An artwork’s provenance is securely stored on our decentralized blockchain database. Blockchain-based platforms enable the transparency of recorded information. This technology provides a fundamental way to store tamper-proof, immutable records. Look Lateral’s blockchain Provenance System is continuously updated by the art community, thus providing accurate information in real time.
PROVENANCE
When we talk about ​Provenance​​, we mean a work of art’s chronological record of ownership, custody, and exhibition history. A well-documented provenance is fundamental for experts to determine an artwork’s​ authenticity​​ and collectible significance. Gaps within an artwork’s provenance can lead to speculation about forgery and legitimacy. A thorough provenance ​increases the value​​ of a work of art, impacting its’ selling price in the market.
A work of art’s value is affected by many factors:
  • the accuracy and trustworthiness of the provenance;
  • the historical record of ownership;
  • the certification that an artwork has not been illegally traded (or stolen) from another country/owner.
Additional contributing factors include: an artwork’s physical details (i.e. subject, style, signature, dimensions, frame), exhibition marks, dealer stamps, gallery labels, certificate of authenticity, indications of previous ownership (often adhered to the back of an artwork), and previous auction results.
The Look Lateral​ Provenance System​​ not only records an artwork’s information on the blockchain, but also motivates the art world community to​ contribute​​ accurate artwork-related information such as: curatorial point of view, documents, transaction history, authenticity, condition reports.
A ​‘bounty’ ​​is set by the holder of an artwork to reward those who provide accurate, reliable information. ​For example:​ when an expert makes an independent provenance declaration, other art experts are paid from the bounty pool to express their opinions regarding the validity of the information. If the community of experts vet the new information, the individual expert claims their LOOK bounty.
Overtime, all information helps generate a ​provenance score​​.The resulting score reflects the quality of an artwork, taking into account the provenance information available. An artwork’s provenance is securely stored on our decentralized blockchain database. Blockchain-based platforms enable the transparency of recorded information. This technology provides a fundamental way to store tamper-proof, immutable records. Look Lateral’s blockchain Provenance System is continuously updated by the art community, thus providing accurate information in real time.
PRICING
The valuation of an artwork is a complicated and at times controversial process. One of the key factors to minimize error is, above all, to procure accurate information about an artwork. Look Lateral has developed a ​proprietary methodology​​ – based on proper information and hedonic estimates of general value trends regarding a set of artworks – that delivers reliable price estimates for a single work of art. Our methodology is based on 4 fundamental phases:
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  • Acquisition of data and metadata related to a given artist, then organized into a database;
  • Creation of dedicated indexes that extract general value trends from a set of artworks produced by a particular artist, and relies on price changes throughout time;
  • Estimation of value for any artwork in the space covered by a given artist;
  • Continuous acquisition and implementation of detailed information derived from the ​Tag & Provenance System​.
The Look Lateral ​Pricing and Indexing System​​ is engineered with ​Artificial Intelligence​ to produce objective, reliable results. Our solution eliminates conflict of interest, which curtails price manipulation in the art market. Look Lateral’s advanced tools allow marketplace participants to invest and buy art in a safer, more conscious way. Our approach not only increases accessibility and liquidity in the art market, but also significantly reduces risk.
PRICING
The valuation of an artwork is a complicated and at times controversial process. One of the key factors to minimize error is, above all, to procure accurate information about an artwork. Look Lateral has developed a ​proprietary methodology​​ – based on proper information and hedonic estimates of general value trends regarding a set of artworks – that delivers reliable price estimates for a single work of art. Our methodology is based on 4 fundamental phases:
  • Acquisition of data and metadata related to a given artist, then organized into a database;
  • Creation of dedicated indexes that extract general value trends from a set of artworks produced by a particular artist, and relies on price changes throughout time;
  • Estimation of value for any artwork in the space covered by a given artist;
  • Continuous acquisition and implementation of detailed information derived from the ​Tag & Provenance System​.
The Look Lateral ​Pricing and Indexing System​​ is engineered with ​Artificial Intelligence​ to produce objective, reliable results. Our solution eliminates conflict of interest, which curtails price manipulation in the art market. Look Lateral’s advanced tools allow marketplace participants to invest and buy art in a safer, more conscious way. Our approach not only increases accessibility and liquidity in the art market, but also significantly reduces risk.
FIMART
Fimart​​ is a secure blockchain platform that supports the trading of tokenized art assets. FIMART is the final step in the Look Lateral ecosystem: ​only tagged artworks that have a certified provenance and price listing can be traded on our unique marketplace​. The owner of a work of art can choose to either sell his entire artwork on Fimart, or fractionalize it into fractions. In the latter case, the owner may retain 51% of his artwork (maintaining physical possession of it), while the remaining 49% is sold to art token investors. The majority art token shareholder of an artwork receives rewards and special voting rights.
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Why sell fractions of your artwork?
  • Significantly increase the number of potential buyers from around the world;
  • To increase visibility and demand; thus supporting appreciation;
  • To gain liquidity while still maintaining physical and controlling ownership the artwork. Should a buyer have the chance to sell his artwork entirely, all fractions can be sold with the seamless financial option to completely buy-back his artwork upon pre-defined conditions, thus remunerating investors as well.
For the first time, marketplace users can build their personal art collection, ranging from emerging artists to Old Masters, that suits their specific budget and personal taste. Our mission to democratize art goes beyond financial trading. Your Look Lateral fine art portfolio will become a part of your story. Fractional ownership establishes a new way to engage with art and to express oneself. Blockchain technology, combined with smart contracts, allows the seamless and secure transactions of fine art, turning every piece into a liquid asset like never before. Investment, technology and fine art can finally coexist in a revolutionary way.
FIMART
Fimart​​ is a secure blockchain platform that supports the trading of tokenized art assets. FIMART is the final step in the Look Lateral ecosystem: ​only tagged artworks that have a certified provenance
and price listing can be traded on our unique marketplace​. The owner of a work of art can choose to either sell his entire artwork on Fimart, or fractionalize it into fractions. In the latter case, the owner may retain 51% of his artwork (maintaining physical possession of it), while the remaining 49% is sold to art token investors. The majority art token shareholder of an artwork receives rewards and special voting rights. Why sell fractions of your artwork?
  • Significantly increase the number of potential buyers from around the world;
  • To increase visibility and demand; thus supporting appreciation;
  • To gain liquidity while still maintaining physical and controlling ownership the artwork. Should a buyer have the chance to sell his artwork entirely, all fractions can be sold with the seamless financial option to completely buy-back his artwork upon pre-defined conditions, thus remunerating investors as well.
For the first time, marketplace users can build their personal art collection, ranging from emerging artists to Old Masters, that suits their specific budget and personal taste. Our mission to democratize art goes beyond financial trading. Your Look Lateral fine art portfolio will become a part of your story. Fractional ownership establishes a new way to engage with art and to express oneself.
Blockchain technology, combined with smart contracts, allows the seamless and secure transactions of fine art, turning every piece into a liquid asset like never before. Investment, technology and fine art can finally coexist in a revolutionary way.
Benefits
1. GENERAL AND CRYPTO INVESTOR
Access a global marketplace and diversify your portfolio investing your crypto currencies in a solid, tangible asset like Art. For the first time, the link to a physical good (the artwork) helps decreasing volatility.
2. INSTITUTION (MUSEUM, ART FOUNDATION, COMPANY)
Tag artworks and update provenance information on Look Lateral’s Tagging and Provenance System. On Fimart you can increase liquidity and long-term revenue while retaining majority ownership of every listed asset.
3. ART GALLERY
Tag artworks and list them on Look Lateral’s Tagging and Provenance System to improve inventory control and reduce risk and costs. Use FIMART to sell artworks in whole or fractional shares to new collectors/investors, and reclaim new liquidity while maintaining the right to sell the physical artwork.
4. ART COLLECTOR
Gain access to complete and certified information, discover the current value of your artworks and enjoy a fully transparent and liquid art market in a way you’ve never experienced before! You can now acquire masterpieces or buy fractional shares of artworks for diversifying investment, or simply for personal pleasure.
5. ART EXPERT
Access our Provenance System to gain in-depth knowledge about every listed artwork: technical specifications, historical anecdotes, art market trends, condition report and performances. Earn revenues from sharing your personal opinion and technical assessments. On Fimart you can boost your career: new revenues can come from new services.
6. ARTIST
Tag your artwork to trace its future movement for long-term security and additional income. You can now reach a wider audience of curators, investors and collectors and gain new visibility. Retain ownership as well as new revenue: for the first time you don’t need to choose, you can have both.
7. ART ENTHUSIAST
On Fimart everyone can buy and sell fractional ownership of art, for fun and profit. Masterpieces will emerge as all players are constantly incentivized and liquidity increases. The Power of Art is finally available to everyone: are you ready to find a Picasso in your wallet?
SECURITY TOKEN OFFERING
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