- Artists not getting paid for their art works
- Artists not getting paid on time.
- A trusted system of payment between the Artists and art buyer.
- Ensuring Buyers recieve their artworks.
71% of UK Artists who took part in Exhibitions havent been paid in the last 3 years. This has lead to many artists earning below the minimum wage or changing professions. Current Escrow paltforms are centralised and provide the risk of funds being misplaced, stolen or withheld. Sadly, many Art houses have deliberately witheld Artists payments or inisted on paying them instalmentally.
journey
title Artpay User Flow
section Escrow Smart Contract
Buyer and Seller Lock a partial stake: 1: Buyer
DAO notified: 2: Buyer
Outline purchase conditions: 3: Buyer, Seller
Messages sent for update: 5: Buyer, Seller
section NFT
Initial part payment made: 2: Buyer
NFT minted and sent: 1: Buyer, Seller
section Payment
Buyer receives artwork: 5: Buyer
Seller receives payment: 2: Seller