Freeport, a startup that uses non-fungible tokens (NFT), is the first to get SEC approval to open its crowd-ownership blockchain platform to sell four Andy Warhol prints. The purchase of shares via the Freeport platform will enable up to 1,000 individuals the opportunity to own Warhol’s famous blue-chip artwork. Each piece of artwork is composed of 10,000 shares. A minimum purchase of 10 shares is required.
This collection includes Warhol prints of some of his most famous works such as “Marilyn” (1967),,” “Double Mickey” (1981),,” “Mick Jagger” (1975), and even “Rebel Without a Cause” (James Dean), (1985). These paintings are highly sought after by collectors. According to MutualArt., current Andy Warhol paintings fetch $6 to $195,000.040,000 per piece.
Freeport’s unique platform gives individuals the chance to invest in artwork of high value, previously only available to wealthy collectors. Freeport allows crowd-ownership for Warhol prints and makes it possible for more people to be part of art ownership.
Regulation A, the SEC’s regulatory review process, is intended to protect investors while allowing new companies to raise capital. The success of Freeport in completing this review is a major milestone for the NFT sector, which has seen rapid growth in popularity over recent years. NFTs are digital assets that are unique and can be verified using a blockchain network. They are used commonly to represent artwork, music, or other collectibles.
Freeport’s platform makes it easy to trade, buy, sell, or trade shares of Warhol prints using blockchain technology. Investors can also benefit from the platform’s many benefits, including the ability track the value of their investment and receive dividends based the performance of the underlying assets.
Freeport’s crowd-ownership platform, which it launched for Warhol prints, marks a significant milestone in the NFT sector and the democratization art ownership. This platform is poised to revolutionize art by making high-value artwork more easily accessible to a wider audience. It will be fascinating to see what innovative solutions are created in the NFT industry to provide new opportunities for collectors and investors.