New Blockchain Startup Wants to Free Over 100 Million Dollars Tied Up in Arts
Article by Nils Elmark, Futurist and author The New Local Economy
Omnia DeFi plans a new democratized blockchain-powered platform that stretches all the way to the moon.
There is art in the world valued around 50 billion dollars and most of this money is passively locked up in wonderful paintings and art objects hanging on walls. To free the money, people must sell the art which may improve their financial liquidity, but it certainly also leaves them with a bare depressing tainted square on the wall where their masterpieces used to hang. But it’s always been like that, hasn’t it — you can’t have both.
Now, a new fintech-blockchain company Omnia DeFi is planning to change that. Omnia is developing a new democratized blockchained platform that will allow everyone with valuable assets to ‘tokenize’ their property and free capital. For instance, if you are the lucky owner of a Jordan Casteel painting; you bought at the right time and want to free up money to buy a Lucas Arruda, you don’t have to sell anything. You tokenize your painting: that is, you scan your Casteel, attach all relevant documents of ownership and provenance, and put all relevant information on Omnia DeFi’s platform — at the same time you split the ownership of your artwork’s value into fractions and sell up to 49 percent. You still have Jordan Casteel on the wall — but you are no longer sole beneficiary of its value. If pricing on Casteel goes up, you’ll benefit from the 51% with the fractional token holders likewise benefitting from the 49%.
These tokens are called Omnia Asset Tokens — or OATs — it’s a new cryptocurrency but unlike volatile Bitcoin OAT represents and stores tangible value: the actual artworks.
Omnia DeFi says it has artwork worth over 100 million dollars on the tokenizing waiting list. But according to the company tokenizing art is only the starting point.
The value of real estate on the planet is an estimated 280 trillion dollars and in a lot of developing countries ownership of houses and land is not even registered. With a public and democratized blockchain platform like the one Omnia DeFi is developing, millions or potentially even billions of people will be able not only to claim the righteous ownership of their properties, they will also be able to free some of their illiquid wealth into new investments.
Apart from art, Omnia plans to tokenize real estate projects and other high-value non-art property. Up to 415 million dollars in real estate has been committed to Omnia tokenization.
“We are only at the beginning of a new decentralized finance,” says Raki Brown, Omnia DeFi’s founder. “The present way of registering wealth and bringing it into fresh use, has been created centuries ago and is broken. We need new and efficient ways to ensure ownership and provenance and blockchain-technology is an efficient means to that”.
In their commercials, Patek Philippe says that you don’t really own your wrist watch, you just hold it for the next generation.
With Omnia DeFi you can tokenize your watch, keep it on the wrist and let the kids own 49 percent until you decide it’s time for them to wear it.
In the meantime one million of the $OMNIA utility tokens will be placed on the moon (!) and the next moon rover that happens to pass by at the right time and right place will gain ownership of these cryptos. This is a statement about the company’s ambition and a sign of blockchain registration as a means of democratizing the universe.
The team behind Omnia is in every way diverse — 20+ people from different countries representing every continent. The leadership is formed by:
* Founder Raki Brown, Chairman of the Board and co-founder of SkyCity Robotics in London.
* Co-founder Janie Dam, Chief Impact Officer, doctoral degrees in Law and Education in the U.S. and a former state of Illinois assistant attorney general.
* CEO & CFO Jørgen Skov Christensen, career executive with track record at Danske Bank and Nordea Bank.
* COO Vera Ishani, registered DPO in the UK, masters degree with distinction in Management of Business Information Technology.
* CTO Théo Richard, Blockchain enthusiast and successful early adopter and investor in cryptocurrencies.
For more information, members of the public may follow Omnia DeFi at:
Telegram — chat: https://t.me/omnia_defi_official
Telegram — announcement: https://t.me/omnia_defi_annoucement