The Arcual Team Highlight the Benefits of Arcual

May 17, 2023

During our recent team retreat, some of the Arcual team discussed the product features they think will most positively impact the art world...

Michael Schuller, CTO

"I love that Arcual gives artists a closer connection to their work and makes it easier for them to decide how that work exists out in the world after it has been sold on the primary market. This also benefits galleries and collectors who want to support the practice and career of the artists they work with, and I think will make a big, positive impact on the art world long-term."

Julia Colavita, Senior Customer Success Manager

“I think artist resale royalties can most positively impact the art world by sustaining artist's careers and ultimately providing an extended resource to nourish their practice and bring new works of art out into the world.”

Alex Wilcox, Senior Frontend Engineer

“There are two features I think will have the most positive impact, the ability for artists to get paid faster (and perhaps more with royalties) and the Certificates of Authenticity, which could bring greater transparency and authority to ownership. These things were a big part of the reason I was interested in joining Arcual.”

Eleanor Taylor, Senior Communications and Education Manager

“Purchasing art can often be a clunky experience for collectors; especially when these clients are used to slick and sophisticated payment systems elsewhere when they transact. With Arcual, we process transactions up to 1M USD, which is the highest online transaction limit anywhere in the art market, and we also offer a broad range of payment options. Integrated, streamlined AML checks help save time and streamline operational processes for galleries when they interact with collectors.”

Dukagjin Ramosaj, Blockchain Engineer

“In my opinion, the instant money split and artwork royalties features are where Arcual will have the most positive impact on the art world. The instant money split feature could help to facilitate transparent and fair payment for a commissioned artwork, ensuring that all parties involved receive their share of the profits immediately. This could help to build trust between artists and galleries, potentially leading to more collaborative opportunities. On the other hand, the artwork royalties feature using blockchain technology, specifically through the use of smart-contracts, could provide ongoing financial support for artists, allowing them to continue creating and pursuing their artistic goals without financial stress. Ultimately, while both features have their unique benefits, the implementation of artwork royalties through Arcual's blockchain could potentially have a more significant impact on the financial stability and sustainability of the art world.”

Bernadine Brocker Wieder, CEO

“I’m always thinking about the future! Given my background working with museums, I am excited to see how we develop our next features with them in mind. For example, can we enable resale royalties for non-profit institutions that commission artworks from artists, to help ongoing funding of the museums?”

Tanya Kolotusha, Sales Manager

“Arcual offers technology that can establish a standardised system for certificates of authenticity within our industry. Currently, there is a lack of standardisation and many do not see the need for certificates, particularly in the primary market. However, this may lead to issues with provenance in the future. Arcual Salesroom simplifies the process of creating and transferring certificates to the collector once they have purchased the artwork. This saves galleries time yet still leaves the room for creativity, because the certificates could be customised.”

Mostafa Elgayar, Frontend Engineer

“I think the fact that with Arcual, royalties for artists in resales are guaranteed is a huge advantage to the whole ecosystem, because it highlights the relevance and importance of artists and ownership.”

Ivana Gjorgjev, Senior Product Manager

“Through Arcual smart contracts we are offering automated payments and customisable royalties for the galleries and the artist after each on-chain sale. With this feature, we ensure that artists and the gallery can benefit financially beyond its first sale.”

Rodrigo Esmela, CPO

“Our digital payments allow customers to securely transact artworks of up to 1M USD in over 135 currencies. Our customizable smart contracts enable them to automate payouts to all parties involved. These, combined with our online KYC checks, open the possibility to transact online high-value artworks securely and has the inherited operational optimization and simplicity of automating all subsequent payouts for the transaction. With online sales comprising 16% of the market, innovation in secure and seamless online transactions will significantly impact how the art market transacts in the future.”

Danlu Peng, Senior Customer Success Manager

“Definitely the artist resale terms! With this feature, we believe we can create a better ecosystem in the art world to support creators, and build a better connection between the artists and their artworks.”

Francesco Sarcone, Marketing Lead

“The Digital Certificate of Authenticity. This opens a whole new world of possibilities for collectors, galleries and artists. It’s not just an immutable document, it can “contain” attachments, be personalized and much more!”

Lorna Tiller, Senior Sales Manager

“Arcual's suite of digital tools streamline the collector's experience purchasing art online. With three simple steps, the collector can agree to the terms of the smart contract, complete AML + KYC checks, and finalise payment in a single application. Automatically receiving the digital Certification of Authenticity into their account, Arcual is empowering  collectors to securely transact worldwide.”

Joao Costa, Backend Engineer

“For me it's the possibility of bringing back power to the artist. Specifically, the opportunity of establishing immediately in the Consignments phase, the royalties which are going to be paid back to the artist in secondary transactions. The potential for selling a certain piece of work, having its reselling royalties parameterised in years and percentage, is game changing.”

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