WHITEPAPER

October 30, 2021

Democratizing ownership of fine art masterpieces

Introduction

Collecting art has historically been the privilege of a select few. The elite collector community has traditionally shaped the course of the art market and of art history. Now, blockchain has created an opportunity for a game-changing paradigm shift. This shift will allow the decentralization of traditional practices of art collecting, ownership, and enjoyment.

Vision & Mission

Our vision is to leverage blockchain and non-fungible tokens (NFTs) to radically change the way people own, collect, experience, and ultimately enjoy art. Our mission is to acquire some of the most important trophy masterpieces in the world, and to put them in the hands of the wider community. 

Problem & Solution

Before the invention of museums, private ownership was one of the few ways to enjoy fine art. But even museums are limited by the demands of the physical world: you need to be in the artworks’ physical presence to access it. Technological advances have already democratized most art forms, including music and film, allowing them to be enjoyed at will by mass audiences. But until now, fine art has resisted that general trend.

Particle is pioneering a new application of NFTs that will free major artworks from the historical limits on their accessibility. We aim to democratize collecting practices and, ultimately, to redefine what it means to own a work of art.

Particle is a platform that will—for the first time in history—empower a large community to engage directly in the art market on a level playing field with some of the market’s most powerful actors. As Particle acquires more paintings, the community will be able to make its own collecting decisions according to its tastes and convictions.

We are Particle

Particle was founded by a team of leading figures and innovators in the worlds of art, blockchain, and technology.

Particle will leverage this team to acquire and tokenize the world’s greatest masterpieces and build one of the best collections out there. This will be done via a Particalization Process which involves taking a painting’s title deed—or the legal term for proof of ownership—and dividing into (in the case of the first acquisition) a 100x100 grid resulting in 10,000 unique NFTs we call Particles. 

The physical works of art will be placed in the Particle Foundation, a non-profit public trust and physical museum whose purpose is to maintain, preserve, and display the collection on behalf of the Particle community. Every work acquired by Particle will be immediately integrated into the Particle Foundation’s permanent collection on behalf of the community, thus ensuring the physical works will never be sold.  The Particle Foundation will operate like a public trust but for the enjoyment of the Particle community. Our goal is to tour the collection internationally to give a chance to as many people to see and enjoy the works in person.

The Particle Foundation will also develop a presence in the form of a museum in the metaverse where the collection will be accessible at all times.

The Particle collection will be the first of its kind –one built by and for the community.

A New Way to Own, Collect & Experience Art

Cryptocurrency has called into question our fundamental assumptions about value and ownership.  Now NFTs have done something similar by allowing people to own, collect and experience digital assets in new ways.  We believe that by extending NFTs to physical art collecting and ownership, we can use them as a vehicle to make art more accessible for everyone.

The Particalization Process

Particalization involves taking a painting and dividing it into a grid (in the case of our first acquisition, a 100x100 grid) resulting in 10,000 Particles. Each Particle is unique, allowing the holder to enjoy a personal connection to the artwork within the overarching structure of collective ownership.

Of these 10,000 Particles, 90% will be sold to the public in a primary sale and 9% are withheld by Particle. The remaining 1% are donated to the Particle Foundation to be kept in trust. This is an important donation as the 1% acts as a shard ensuring that no one person can acquire all Particles and claim possession of the physical piece. The Particle Foundation’s bylaws restrict it from ever selling the particles held in trust. Furthermore, the Foundation will also be receiving a portion of all royalty revenues, which will go towards the conservation, preservation and display of the works in the Collection.

Digitization Without Destruction

While others have chosen to destroy the physical artwork to facilitate its transition to the digital world, we believe that the physical destruction of art is antithetical to our mission to foster access to the world’s most precious masterpieces. Our unique approach to digitization allows art to be protected and enhanced as it enters the digital realm: instead of physically destroying the piece, Particle has chosen to legally destroy it, eviscerating its physical value by donating it to a non-profit so that Particles can be born. The artwork is physically preserved and protected for the enjoyment of the people while its artistic substance has been transformed into 10,000 unique digital collectibles. 

A Community Art Revolution

NFTs have fostered new communities: pockets of culture with shared aspirations.  Digital communities, both large and small, are becoming increasingly powerful in our era.  We believe that these communities can drive change and shape the future.  The traditional art world is an exclusive community.  But now, Particle allows anyone to join simply by purchasing an NFT. This represents a dramatic shift in how art is purchased, owned, and traded. Our regular physical popups and social channels (namely Discord and Twitter) will open the conversation to all. Keep an eye out for AMA’s with the team, relevant stakeholders of the crypto and traditional art worlds and join the conversation with us!

Blockchain partner

We are proud to announce our selection of the Avalanche chain as Particle's blockchain partner.

Avalanche empowers easy, low-fee creation and trading of digital smart assets with complex custom rule sets that define how the asset is handled and traded to ensure regulatory compliance. Avalanche’s C-Chain is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. It is an implementation of the EVM and is 100% compatible with existing Ethereum tooling. Meaning, everything you can do on Ethereum you can do on the C-Chain with the added benefit of 1000’s of tps, near-instant finality and low fees.

Furthermore Avalanche is a breakthrough for crypto, and green technology.

It is recognized as one of the most ecologically friendly blockchains. In addition to using proof-of-stake as a sybil deterrence mechanism, rather than proof-of-work, Avalanche is a quiescent protocol. This means that if there are no transactions for a node to process, it will lay dormant and not waste energy.

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