ZenDao – Tokenizing art, one collectible at a time

Blockchain Technology has invariably penetrated major verticals where its disruption potential has completely transformed the genetic structure of the industry. Its immutability, transparency, and speed found applications in fields where digitization of assets is of prime importance. Recently, ViewFin, the developers of Metaverse™ – the first public Blockchain in China, have banked on the advantages of blockchain to tokenize the sale and purchase of art and collectibles on one platform –‘ZenDao‘. Through ZenDao, the creators are hoping to create a fair market for the trading of artifacts and collectibles while tackling the challenges encountered by the stakeholders in the real world. With its ICO coming up, let’s dive deep into understanding how ZenDao can soon become an open platform for one of the highly illiquid but precious markets of the world.

What is ZenDao?

ZenDao is a platform developed on Metaverse Blockchain that utilizes the solutions provided by the Blockchain technology to create a digital representation of the real-world collectibles on Blockchain and establish an unalterable digital provenance coupled by ownership tracking. By tokenizing the assets, the platform aims to create a link between physical assets and their digital representation which helps in easy identification and trading of ownership given the advantages of ledger technology. Using collectibles’ digitizing process (CDP), they obtain the digital signatures of real assets through high-accuracy 3D scanning. These digital signatures are stored on Blockchain, and the permanent nature of the technology makes it impossible to tamper these signatures. Then their value is tokenized to be traded on the platform using the ZenDao Coin (ZDC).

How is ZenDao profitable?

ZenDao solves the challenges that confront the dealers of artifacts and collectibles in the real world. Since Blockchain has a tamper-proof, timestamped, publicly traceable information ledger characteristics, it is suitable for establishing an unalterable digital provenance tracking system for the collectibles. This helps in tackling the problems of forgery and ownership conflicts amongst various art pieces that exist. The high transaction costs and middleman charges adversely affect the liquidity of the art industry. Since ZenDao is a platform where no trading and commission fees are applied, the liquidity will improve significantly over time attracting major players of the market. Another significant advantage of the platform is the divisible ownership. As the artifacts are tokenized, multiple interested parties can purchase part of the asset and go for collective ownership which makes diverse objects accessible for everyone

ZenDao ICO campaign and impending dynamics

The ICO for purchasing ZenDao tokens (ZDC coins) commences on 23rd, 2017 and the fundraiser closes on July 17th, 2017. During the ICO, ZenDao Coin (ZDC), the fundamental unit of ZenDao platform representing the value of the entire network, will be distributed to the investors and early backers of the platform. 70% of the initial number of ZDCs on the platform will be circulated through the ICO. The price per ZDCs and bonus awarding system will be publicly available on the official webpage of Zendao (zendao.org) from the ICO opening date.

Recently, OpenLedger ApS signed a Strategic Cooperation Framework Agreement with ViewFin, the developers of Metaverse™. The resulting partnership has made it possible for the OpenLedger DEX (exchange) to offer all tradable ViewFin products and tokens exclusively on an international level. Hence the investors can participate in the ICO through BTC, ETH, and ETP on ZenDao official website or OpenLedger.

Being a platform that integrates high-value artifacts and blockchain advantages while propelling secure trade system, ZenDao is sure to positively impact the artifacts and collectibles market adding more value to the existing ecosystem.