Miami-based digital startup MyCrowdArt is working on the development of the first art investment and ownership mobile app, scheduled for release by mid 2019. The app will offer the larger public easy access to attractive art works with a significant annual growth potential.
Buying art has, until now, been associated with a relatively high degree of experience both in investment strategies and art. With the new app developed by MyCrowdArt, beginning investors will get a chance to invest in carefully selected works of art that are likely to yield a solid return on investment.
All works of art available through the app have an expected annual growth of 7 – 12%, thus allowing investors to place their funds into a relatively safe asset. Unlike traditional art purchasing options, the app permits co-ownership of each artwork – for an initial investment of only 100$, investors can thus own part of a promising work of art with solid growth potential.
The app will feature a legal framework for direct transactions and co-ownership of any artwork, an accessible value acquisition lifecycle management for each artwork, as well as the creation of personalized art collections. Art co-owners will have direct access to their artworks via the app, and will be able to view their collections upon request.
The release of the app is scheduled for mid June 2019 at the Art Basel show. The app will feature three acclaimed works of art which will be immediately available for co-ownership on the date of the release.
The project for the new app has been presented to the art world during the Miami Art Week 2018 (December 3-9).
Company CEO Hans Goessl says: “It has been such a warm welcoming. We have presented the idea to multiple international gallerists and art professionals, who were highly enthusiastic about our vision and genuinely interested in the collaboration. It was a great pleasure to see that we have seen interest in our app, especially from the art professionals.”
“The Art market is often, mistakenly, believed to be following dogmatic ideas and structure, leaving the digital age behind. I had a completely different view on it, and the enthusiasm received at the Art Week Miami, from such a diverse type of public, made my team and I thrilled more than ever to be launching the app”, he continues.