Artfinity is an industry chain of industry traceability and trading based on blockchain technology. Through putting the whole process of art creation and trading on blockchain, the current art industry's identification and circulation problems are solved. Specifically, Artfinity uses the Internet of Things technology to record the entire process of artwork creation and generates a unique identification (AID) for each artwork based on the cryptographic hashing, extracting the “digital fingerprint55 and uploading it to the blockchain. As a result, the traceability is true, transparent, and cannot be tampered with.
Artfinity adopts the decentralized method to select the node and generates the tokens while the art object is stored in the warehouse of the node. The tokens storing the AID and the acceptance agreement can exchange for the designated artwork at any time via the node. Furthermore, the token has rich smart contracts that support financial services such as circulation and mortgage, it also creates the new model of IAO (Initial Assets Offering), the circulation of trading on the blockchain greatly reduces the trust and communication costs of both parties to the art transaction, and improves asset liquidity.