Startup allows anyone to own a Picasso

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Spotted: New York City startup, Masterworks, lets people invest in great works of art by securising artworks and using blockchain. The company buys artwork it believes will appreciate in value and then registers it with the US Securities and Exchange Commission (SEC). Investors can then buy shares in each artwork, just like they would buy shares in a public company. Share ownership is recorded on the Ethereum blockchain. This makes the process more secure, efficient and transparent. Company founder Scott Lynn says that blockchain democratises art collecting, which has traditionally been off limits to most people because of high prices. With Masterworks,…

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