As per to blockchain digitization provider Tokeny, on Monday, the Royal Museum of Fine Arts Antwerp (KMSKA) became the first European museum to tokenize investment in fine art, starting with Belgian painter James Ensor’s (1860–1949) painting, “Carnaval de Binche.” The work can be fractionally owned by investors starting at 150 euro (or approximately $158) KMSKA, Tokeny, and Rubey have collaborated to create the venture. Tokens are ERC-3643 compliant, and they will launch on Polygon.MATIC) blockchain.

The parties stated that the goal of this collaboration was to lower investment barriers, and to allow ordinary users to co-own expensive fine art pieces normally only afforded to wealthy people. Individuals were able, through an innovative fundraising technique, to purchase art and guarantee that KMSKA gets it on a long term loan.