Gitex Exclusive: 10101 Art Combines Physical Art with Blockchain

How 10101 Art Bridges the Gap Between Crypto and Real-World Art

Project 10101 Art

Sudeep: Hello everyone, this is Sudeep from Coin Gabbar, reporting live from Gitex. Today, I’m joined by Alina, the CEO of 10101 Art. This project seems quite different from what we’ve seen before at Gitex, but before we dive into that, let’s talk about the overall vibe here at the event.

Sudeep: So, Alina, how do you find Gitex till now?

Alina: To be honest, I’m really impressed by the level of organization and the variety of projects on display here. It’s been an eye-opening experience.

Sudeep: That’s great to hear! So, Alina, is this your first time at Gitex?

Alina: Yes, it is, but I’m definitely looking forward to coming back again. I’m really enjoying my time here.

Sudeep: I wanted to ask you about your journey into the crypto industry. How did you end up in this industry?

Alina: I started my career in banking and finance, but over time, I realized that I really really need the spirit of startups. I discovered Web3 and decided to dive deeper into it. I’ve really enjoyed learning about and using these technologies.

Sudeep: As a matter of fact, even I come from a similar background—I used to work in leading banks of India, as well as auditing, before moving into the Web3 space. Our journeys seem to align!

So, can you tell us more about 10101 Art? We’ve heard a lot about NFTs and Web3, but what makes 10101 unique?

Alina: 10101 Art aims to become the world’s largest marketplace for tokenizing real-world assets. We start with physical paintings from renowned artists, and our goal is to democratize the classic art market by offering Fragmented ownership through NFTs, making it more accessible for people to enter the art world.

Sudeep: That’s an interesting concept. Can people buy fractional shares of these artworks, or is it more about individual ownership attached to one NFT?

Alina: Yes, we use NFT technologies, but not as digital images and copies of the painting. Instead, NFTs serve as a means to transfer ownership of the original physical artwork. Through our platform, people from around the world can become real owners of physical paintings by iconic artists like Dalí, Picasso, and Van Gogh.

Sudeep: Web3 and crypto are often referred to as a global village. How have you found the transition to this industry, especially considering your background in banking? Banking systems have a lot of bottlenecks, transaction layers, and banking charges. Has it been easier to work across borders in Web3?

Alina: That’s a great question. Honestly, we’re not just targeting crypto enthusiasts with our project, which is a key point. We believe this technology is great, and it should be accessible to everyone, not just technical experts. One of the biggest challenges in the industry right now is regulation, especially when combining physical art with blockchain. It’s a tough issue we’re still working through, but we’re committed to navigating it.

Sudeep: Dubai has made strides in establishing regulations for Web3. With the introduction of VARA, and Europe’s MiCA regulations, it seems the ecosystem here is growing. What’s your take on Dubai’s role in the Web3 world? Do you think other countries should form a set of regulations to ease these technologies?

Alina: I think Dubai is really making great progress with its regulations, and the government is actively taking steps to support the technology. However, it’s still a challenge, and I think they could ease up on some aspects to help startups. It’s hard for many companies to navigate the current regulatory landscape, and some are being held back as a result. That said, Dubai is a great hub for the art world, and we’re thrilled to be here. It’s open, safe, and the perfect place for our gallery.

Sudeep: Many in the banking world say that New York is the financial capital of the world, while Dubai is becoming the crypto capital. There’s also a common misconception that crypto and blockchain are the same thing. Well! there is a lot of difference, crypto might just be fuel to the blockchain, but blockchain essentially is a technology that totally segregated from crypto.

We at Coin Gabbar are trying to make a difference between crypto and blockchain and their impact, that is how the government will understand the technology as they are scared of crypto and not blockchain. From your perspective, what’s your take on the difference between the two? 

Alina: I’m really happy you brought this up! Crypto and blockchain are often misunderstood. Blockchain is the underlying technology, and crypto is just one use case. Our NFT project uses blockchain technology for ownership and provenance tracking, which is perfect for art. It’s not about crypto or speculative assets—it’s about creating a transparent and secure way to own real-world art.

I think governments should differentiate between projects using blockchain technology for positive purposes and those that are more focused on crypto or tokens. It’s possible to have trustworthy, regulated projects in Web3, and KYC (Know Your Customer) requirements are essential to ensure that projects are safe and legitimate. 

Sudeep: Do you think it’s possible to run a Web3 or crypto project without a clear identity behind it? In Web3, some people want to remain anonymous, but when things go wrong, someone has to be held accountable. What’s your take on this?

Alina: I think it’s an interesting question. There are people who want privacy, but we need some level of transparency, especially when it comes to protecting users. In our case, we ensure that everything is secure and accountable. While the technology behind Web3 allows for anonymity, there’s still a need for trusted entities who can take responsibility and make sure everything runs smoothly. The protection of investors is key.

Sudeep: That makes sense because if you want an industry to grow you need to take care of the investor sentiments and investor protection, and KYC plays a crucial role in it. I am happy to know that your project is already KYC verified which will help in verifying the real investors. As an enthusiast myself, I agree that having some level of accountability in the Web3 space is crucial. Can you share any future plans for 10101 Art?

Alina: Absolutely! In the near future, we plan to expand our platform globally, establishing a peer-to-peer marketplace for art trades. We’re also working on adding more art collections and implementing a decentralized voting system where the community can help decide the fate of artworks. Our goal is to democratize access to art and allow more people to be part of this world. We also plan to offer certified replicas of the artworks for owners, and copies of paintings so they can display them at home while still holding ownership of the original piece.

Sudeep: That sounds exciting! It’s amazing to see how projects like 10101 Art are giving more people access to high-value art, which has traditionally been the domain of the wealthy. Fragmented ownership is breaking down barriers and allowing people with smaller budgets to make a real impact in the art world. 

Thank you so much for your time, Alina. This is truly a groundbreaking project.

This is Sudeep, signing off from Coin Gabbar at the Gitex event. Be sure to follow 10101 Art and learn more about what they’re doing to revolutionize the art world with Web3. It’s definitely something worth checking out.