FAQs

What is a Blockchain Smart Contract?

Think of a blockchain as an open ledger that records and facilitates art sales and transactions. Artworks registered on a blockchain ledger are allocated a unique non-fungible token [NFT] and/or a digital certificate of authentication. 

The terms and conditions for the purchase, licensing, use and resale of the artwork can be recorded on the blockchain when the artwork is listed for sale.

This forms the basis of a blockchain smart contract, an automated programme that sets in place a payment schedule whenever the terms and conditions for sale and resale are met. 

All of the works sold on ART LDGR have a blockchain smart contract, ensuring that the artist will automatically receive a small royalty payment on all works sold on the secondary market via a blockchain integrated point-of-sales system.

How do Resale Royalty Payments Work?

Each time an artwork is resold on the secondary market through a point-of-sales system with blockchain integration, the automated blockchain smart contract payment facility will ensure that the artist will be paid a small 5% royalty on the total resale value. Ownership of the certificate of authenticity (and/or any associated digital artwork NFT) will be allocated to the new owner and recorded on the blockchain record at the time of sale.

How does a Certificate of Authenticity Work?

A certificate of authenticity your record of ownership and sales transaction that is recorded on a blockchain. A certificate of authentication will be sent to you via email when you purchase an artwork from ART LDGR. If the artwork is a digital art NFT, both the certificate and the NFT will be sent via email.

If you have a digital art wallet (such as Metamask or Trust Wallet) to store your digital art collections, you can choose to redeem the certificate and the NFT via the link in the email.

If you do not have a digital art wallet to store your digital art collections, the certificate and/or the NFT will be held in safe keeping on your behalf. In this case, if you do not have a digital art wallet, please retain the email in a secure location and remember do not share it with anyone as this is your proof of ownership.

Where are my Certificate and NFT stored for Safe Keeping?

ART LDGR only partners with world leading digital art and blockchain verification agencies to ensure that we provide the highest level of quality service available.

Our certificates of authenticity are registered with Verisart, one of the most accomplished and reputable international artwork verification agencies in the world. Our NFTs are stored on Opensea, one of the world's largest online marketplaces for digital art collections, but we can also use similar platforms (such as Rarible and others) if you prefer. 

For collectors who are interested in building and trading online collections of physical and digital artworks, an art trading platform such as ART LDGR will enable you to view and trade your physical and digital art collections online. We are happy to talk you through the process and help you establish a collection.

Credit Card or Cryptocurrency, how do payments work?

All artworks on ART LDGR can be purchased by credit card or Paypal. You do not need to own cryptocurrency. However, if you do own a crypto-wallet, you can link your certificate of authenticity and any digital artwork NFTs purchased to your wallet using the link of the email.

 

What is the ART LDGR Sales Commission and Facilitation Fee?

The ART LDGR sales commission on the primary sale (the first time an artwork is sold) is 20% plus a 5% sales processing fee. A 2% resale commission is charged on artworks subsequently resold on the secondary market, with an additional 1% resale processing fee. 

What Blockchain does ART LDGR use?

ART LDGR uses the Polygon Blockchain for all our digital art collections. Polygon is an Ethereum based blockchain that uses a Proof-of-Stake (PoS) consensus, which in plain English means it is an environmentally responsible blockchain. ART LDGR also works with the digital art registration company Verisart to ensure certificates of authenticity can be verified and secured on the Bitcoin blockchain.