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The digital pedigree of NFTs

We speak about pedigree when we approach the course of a work of art through time. According to S . Lequette de Kervenoael, it consists “in establishing in the most complete way possible the history of the work until going back to its origin, that is to say the workshop of the artist, the field of excavation, the village of origin?

And the author adds: unfortunately, this provenance is often difficult to establish.

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Closely linked to the history of mankind, works of art have passed through wars, revolutions and changes in fashion with varying degrees of success. They travel a lot, going around the world according to auctions, exhibitions, negotiations, so that their “capricious life” is often difficult to trace. Historical evidence is only convincing if it is complete, that is to say known and justified from the origins of the work to the present day.

 

Read: Alexandre PINTIAU – Common Law Society – Heritage and Works of Art – Selected Issues – 1st edition 2016 – Larcier – P. 152

 

NFTs are digital documents that uniquely identify products and their owners, they also contain several additional details or “smart contracts”. This information cannot be changed, which reinforces the sense of trust among the various actors in the art world.

Thanks to this technology, a complete history of the various transactions through which the works of art have passed is available: a fundamental piece of information for the art world.

Only the owner of an NFT can destroy it or transfer ownership to another person. An NFT can uniquely identify all kinds of property, for example a photograph, a work of art or even a simple tweet and their successive transfers over time and by owners.

The notion of pedigree is intimately linked to that of authenticity. If the pedigree is excellent (and therefore historically complete), the authenticity could not, logically, be questioned since the origin of the work is confirmed by a series of reliable documents. If the pedigree is excellent, the value of the work may also be positively affected since the attentive collector will be keen to acquire exceptional works.

The NFT technology thus makes it possible to create or preserve the value of works of art via perfect PEDIGRAMS that INFALSIFIABLY attest to the AUTHENTICITY.