Oeuvre

Oeuvre: Tokenized Collective Art Ownership (This model can be applied to artworks within private and public institutions, but for this hackathon, we are operating in the context of an auction).

🖼️ Art Selection: Information of artworks (or "lots") is listed on our website for our users to choose and buy shares before the auction.

👥 Syndicate Formation: Once the collective funds have reached 10% above the minimum auction price, a collector syndicate is formed to acquire the artwork jointly. Throughout the auction, additional funds might be needed as the price of the work increases, or the group can choose to quit. Commission fees of varying amounts are taken in both cases (2% and 0.5%)

🏨 Custodianship via Partners:

Luxury hotels and fashion brands can act as custodians, displaying the artwork in high-visibility spaces and providing exclusive experiences, discount,s and events to co-owners.

💎 Fractional Ownership: The artwork is split into digital shares, each representing a portion of ownership.

🔗 Tokenization: Ownership shares are minted as secure, blockchain-based tokens for easy transfer and proof of stake.

📜 Smart Contract Management: All rights, royalties, and legal terms are enforced automatically through smart contracts.

🗳️ Governance Utility: Tokens also serve as voting rights, allowing holders to shape the artwork’s future:

-Exhibition locations

-IP licensing deals

-Resale or retention decisions

🎟️ Exclusive Member Benefits: Token holders gain access to:

Private events hosted by brand partners

Discounts on stays, products, and services

Bounties and rewards tied to artwork performance

🔐 On-Chain Transparency: All transactions and decisions are logged on-chain to ensure authenticity, prevent forgery, and protect provenance.

For this hackathon, we are focusing on the smart contract section.

This DApp is built using Solidity and Flutter. Solidity holds a smart contract that contains auctions. This smart contract has admins that have special privileges, admins can create auctions, cancel them or confirm their completion. If an auction is created the funds bid by the bidders are transferred to the admins wallet. The admin will then use this fund to buy the art piece and hold real world ownership of the art piece. Then the blockchain will keep information on the percentage of the art piece that each bidder holds. If instead the admin cancels the auction the funds are transferred back to each bidder. Similarly polls can be created by the admins, and the voters can vote on-chain proportionally with how much ownership they hold of each art piece.

The toolchain for Solidity development was Hardhat version 3.