The Art Exchange adapts the licensing framework to exhibit or commercially exploit an existing artwork in the metaverse —
for works that haven’t entered the public domain yet.
Licensing for the Metaverse
PROBLEM
SOLUTION
NFTs and other blockchain-empowered tools appeal to art institutions and brands alike for their potential to extend the audience and create a new revenue stream. However, NFTs are still in the legal grey area and there is no playbook on how to tokenise artworks from private or public collections and exhibit them in the metaverse. As several institutions fell into legal pitfalls, the need for standards and guidelines became apparent.
The Art Exchange offers a transparent and legally compliant way to grant rights to exhibit, loan or otherwise use an artwork in any blockchain-based metaverse. The classic licensing model, familiar to many IP rights owners, is adopted to warrantee that parties fully understand the legal implications and owners retain the complete control over the artwork’s virtual life.

The blockchain technology in the base of the marketplace makes transactions fast and cheap. The tool has the potential to create a booming market for the licenses, helping museums, foundations and collectors develop a new revenue stream. At the same time, it will enable curators and art world professionals to organise virtual exhibitions and art projects.
BENEFITS
The legal solution ensures that there will be no sudden implications and that a party never enters a legal grey area. We monitor the market to ensure there are no anauthorised copies of the image. Plus, we assist with taxation and converting money from cryptocurrency into so-called fiat money.
It is the owner who decides on the price, duration, conditions for renovation, possible use cases and revenue model of the license. The license retrieved at any time shall the need arise, and the corresponding artwork will be “burned” in the metaverse.
We understand that not every ogranisation has an in-house blockchain expert and thus provide comprehensive yet simple guidance on the technology, its legal implications, and current updates. Our advice includes information about the best way for achieving individual goals and ensures transparency for all parties involved.
Flexible
Licensing conditions are set by IP rights owner
Fully compliant from a legal point of view
Fast
Our team will facilitate the process and help at every stage
Reliable
Simple
One licensing agreement to evaluate, nothing else
The process is designed in a way that even if a party doesn’t have technical expertise in blockchain it can launch a project after negotiating and signing licensing agreement. We cover the technical part: the image of the artwork is minted as a token, with the licensing conditions embedded in its metadata.
The term ‘Metaverse’, coined by the writer Neal Stephenson in his 1992 sci-fi novel Snow Crash, described a virtual reality populated by user-controlled avatars and programmed daemons.

Today, a metaverse typically implied any shared – which means at least two people can be there at the same time – virtual world with social interactions at its foundations. It is an innate environment to showcase, exchange or trade unique digital assets.

United Talent Agency and Vox Media surveyed 4,050 Americans for Dissecting The Metaverse. 68% respondents said they had engaged with the metaverse, largely via gaming platforms, with the number as high as 88% for the Gen Z demographic (13 to 25-year-olds).

66% of consumers who visit metaverse-like enviroments to go engage with community around a favorite passion. Respondents rated live metaversal activities above digital livestreams on mobile or desktop. 51% of those surveyed said a museum or gallery experience might be enhanced in the metaverse.
TERMS
PRIVACY POLICY
© TheArtExchange, 2022
EMAIL: anna@theart.exchange
GET IN TOUCH
  1. The owner of rights (licensor) decides on the duration, cost, renewal conditions and revenue model of a license, which is reflected in a licensing contract with The Art Exchange.
  2. The Art Exchange issues a token based on a hi res image of the artwork with the licensing conditions, duration and descriptions embedded in its metadata. The token is available on the marketplace and in the metaverse.
  3. When an interested party buys the licensed artwork, the licensor receives payment minus TAEX commission. The commission is agreed on a case by case.
  4. Sublicense can be revoked at any time shall the need arise, in this case, The Art Exchange will retrieve a digital image from the licensee.
HOW IT WORKS
METAVERSE