3.1.1 Intermediary Abolishment

The ARTIC's application of the blockchain technology allows artists and consumers to benefit from the ecosystem, without being charged overwhelming fees that are usually paid to third parties in the Art Market. Furthermore, blockchain technology and smart contracts enable participants to easily obtain rewards that commensurate with their contributions. Consumers will be able to invest or own artworks in real time through the applied blockchain technology. All procedures are carried out in a transparent and reliable way by the application of the blockchain technology, hence there is no need for the separate brokerage intervention. This allows ordinary people to become part-owners of world-class masterpieces and numerous works of art, without incurring excess fees. With the further spread of blockchain technology, the passive position of existing consumers who purchased artworks through the recommendation of brokers will be actively changed, which will lead to expansion of the Art Market. Artists will be able to gain recognition for their artwork's popularity and move beyond the scarcity and monopoly of art to a cooperative situation of distribution and sharing.