Blockchain company 4ARTechnologies, which was founded in early 2017 by Niko Kipouros, has now opened its new headquarters in the canton of Zug. Calling Zug “one of the world’s leading blockchain metropolises”, the startup hopes to benefit from the region’s attractive conditions.
“In Zug, visionary startups meet established companies and well-connected incubators. The innovative strength emanating from the city is enormous,” said Kipouros.
4ARTechnologies has developed a blockchain-powered cataloguing and transaction platform for the art world. A conventional mobile phone camera scans the materials and structural properties of an artwork. The data is then converted into a digital fingerprint, which – together with the provenance, information on the artwork’s origin and history – is saved as a forgery-proof biometric passport on the blockchain. With the company’s patented augmented authentication technology, the artwork can easily be verified and traced by means of smart contracts and blockchain. In this manner, 4ARTechnologies is working to eliminate the global problem of art fraud.
4ARTechnologies has also been nominated as a Top 50 candidate for Crypto Valley Venture Capital’s incubation programme, giving the startup the opportunity to receive an investment of $125,000 and participate in a three-month training programme.