Arcural, an Art Basel-Funded Blockchain Startup, Launched Today

Art Basel’s parent company MCH Group and the LUMA Foundation, a Zurich based arts nonprofit, have launched Arcural, a blockchain startup dedicated to the needs of the art world. Arcural is a new blockchain that makes smart contracts that are specifically constructed for the art world, as opposed to the NFT world. These smart contracts offer artists, galleries, institutions, and collectors a standardized way of logging provenance and sales agreements, while also distributing royalties and p