Artprice plans to use the funds to invest further in its IT strategy and particularly their Art Market Blockchain – a distributed database containing specifications of years of complaints and lawsuits between the different segments of the Art Market chain and, notably, their relations with tax authorities and State judicial and customs services.
In the longer term the Blockchain will allow a considerable improvement in the payment of reproduction rights and other related rights to recognised copyright companies like the ADAGP in France which collects copyright duties in 43 countries.