Artist's rights

Effective Date: 08.17.2023

Web3 Auction artist’s rights are extended and empowered by blockchain technology and decentralized systems:

• Royalty. Artwork Delivered on Behalf of the Artist: When the artwork is delivered to the auction on behalf of the artist, smart contracts are employed to ensure that royalties are processed and paid out automatically.

• Royalty. Artwork Sourced from a Collector's Collection in the Secondary Market: In cases where the artwork comes to the auction from a collector's collection in the secondary market, we take care of artist royalty curation. If needed, we engage the royalty registry application to facilitate this process.

• Immutable Provenance: Blockchain technology provides an immutable and transparent record of an artwork's ownership and provenance. This safeguards the artist's reputation by preventing fraudulent claims and ensures proper attribution.

• Copyright. The artist maintains copyright as the creator, even if the artwork is sold to a collector. Credit will consistently be given and appropriately attributed whenever it is exhibited or shared.

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