According 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.” An investor can acquire fractional ownership starting from 150 Euros (or around $158). KMSKA and Tokeny are collaborating on this venture. Investors can get fractional ownership starting at 150 euros (or about $158). The tokens themselves will be ERC-3643 compatible and launch on the Polygon.MATIC) blockchain.

According to the parties, their ultimate goal is to reduce investment barriers and allow everyday people to be co-owners. Previously expensive art items were only available to wealthy individuals. Individuals were able, through an innovative fundraising technique, to purchase art and guarantee that KMSKA gets it on a long term loan.