Yes we did it: we successfully launched the first Art Security Token — july 2022
Dear Rubey enthusiast,
It is with great pleasure that we address you in this post, as it provides us with the opportunity to thank you all once more for making the Rubey launch a success. Second, this first post marks the start of frequent updates to the Rubey community.
The Rubey community is born
Via this blog, we plan to write you once a month, and our goal is to keep you informed about the Rubey company and the Art Security Tokens that we issue, to tell you more about the partners we work with and the ecosystem we operate in, and to establish an open channel of communication with the Rubey community.
We launched the Rubey platform on April 27th 2022, and we were overwhelmed by the positive reactions from press, industry players, and subscribers on the platform.
To give you an update on where we stand: more than 1,000 people registered to the platform, and over EUR 50,000 worth of RBY001 (Ensor) Art Security Tokens have been distributed. That is about 15% of the total amount of EUR 350,000 that is offered to the public.
As well, the Ensor artwork is transferred safe and sound into the hands of the Royal Museum of Fine Arts Antwerp, where it will be publicly displayed from the moment of re-opening of the museum in September 2022.
Exclusive preview in the Royal Museum of Fine Arts Antwerp
In the meantime, the museum is considering to organize an exclusive artwork viewing moment for everyone who bought Rubey Art Security Tokens. We believe this would be a great opportunity to bring together the Rubey community and to meet and greet the Rubey team.
Therefore, in case you registered but did not yet complete the purchase of the Art Security Tokens, this would be a good time to do so. Not only will you be among the first who supported this project and brought it to life, you will also be one of the first to visit the renovated KMSKA.
Our goal: making art (investments) accessible for all
In the next months, we will continue selling Art Security Tokens to subscribers. Independent of the number of Art Security Tokens that is eventually sold to the public, we at Rubey are convinced that this Proof-of-Concept project is already to be considered as a success. We reached our goals to:
- democratize art investment;
- bring back art from a private collection to a public collection;
- offer a means to museums to expand their collection.
We also decided to continue setting up Rubey for growth as it is our goal to roll-out the model across Europe and beyond, with more art STOs to follow soon. We will further update you on our plans in that respect in next month’s communication.
Art Security Tokens ≠ NFT's
We are going to end this update with a “good-to-know-fact”. For those of you who are still in doubt, our Art Security Tokens are not NFTs:
- Legal framework - the issuance of Art Security Tokens (ASTs) is fully regulated, which means that it is bound by the same legislation and oversight as traditional security. This distinguishes ASTs from unregulated tokens such as Bitcoin and NFTs, which do not follow a clear legal framework;
- Real-world assets - Rubey Art Security Tokens actually have an underlying value, as they are backed by unique, museum-worthy, non-copyable, and physical artworks that exists in the real world. This is unlike Non-Fungible Tokens (NFTs) for instance, which represent digital pieces of art.
Imagine that you are a fractional owner of this Ensor masterpiece.