When was Artyfact (ARTY) coin issued?

The first issuance of Artyfact (ARTY) tokens occurred on August 19, 2021, following a successful public sale that garnered significant interest and support from the blockchain and art communities.

Dec 06, 2024 at 05:28 pm

When was Artyfact (ARTY) Coin Issued?

Introduction

Artyfact (ARTY) is an ERC-20 utility token that powers the Artyfact ecosystem, a suite of decentralized applications and services for the art world. The ARTY token was issued on August 19, 2021, and has since gained significant traction in the blockchain and art communities.

Timeline of Artyfact (ARTY) Coin Issuance

1. Conception and Development

   The concept of Artyfact and the ARTY token was first conceived in early 2021. The team behind Artyfact, consisting of art experts, blockchain developers, and business professionals, recognized the need for a decentralized platform to transform the art industry.

   The development of the Artyfact ecosystem and the ARTY token began in earnest in March 2021. The team set out to create a suite of applications that would address the inefficiencies and challenges prevalent in the traditional art market, such as lack of transparency, accessibility, and fraud.

2. Tokenomics and Token Distribution

   The ARTY token was designed to play a central role in the Artyfact ecosystem. The token was assigned various utilities, including:

    - Governance: ARTY holders would have the right to participate in the governance of the Artyfact ecosystem through decentralized autonomous organization (DAO) voting.
    - Access to Exclusive Features: ARTY holders would gain access to exclusive features and benefits within the Artyfact ecosystem, such as early access to new products and services, discounts on transactions, and rewards for contributions.
    - Participation in Art Syndicates: ARTY holders would be able to participate in art syndicates, allowing them to invest in and co-own fractionalized artwork.
   

   The initial token distribution was carefully planned to ensure fair and equitable distribution of ARTY tokens. A total of 1 billion ARTY tokens were issued, with the following distribution:

    - Seed Sale: 15%
    - Private Sale: 30%
    - Public Sale: 25%
    - Ecosystem Reserve: 30%
   

3. Public Sale and Token Issuance

   The public sale of ARTY tokens took place on August 19, 2021, through a decentralized exchange platform. Interested investors from around the globe participated in the sale, eager to acquire ARTY tokens and gain access to the transformative potential of the Artyfact ecosystem.

   The public sale was a resounding success, surpassing its fundraising targets and attracting a diverse range of investors. The interest and demand for ARTY tokens were a testament to the growing recognition and anticipation surrounding the Artyfact project.

4. Post-Issuance Development and Growth

   Following the successful issuance of the ARTY token, the Artyfact team continued to diligently develop and expand the Artyfact ecosystem. A series of decentralized applications and services were rolled out, including:

    - **Artyfact Registry**: A decentralized database for registering and authenticating artwork.
    - **Artyfact Marketplace**: A peer-to-peer marketplace for trading and auctioning artwork.
    - **Artyfact Vault**: A decentralized storage and management solution for artwork.
    - **Artyfact Syndicate**: A platform for creating and managing art syndicates.
   

   The growth of the Artyfact ecosystem and the adoption of the ARTY token have been instrumental in driving the transformation of the art industry. The ARTY token has become an indispensable tool for artists, collectors, and art professionals alike, facilitating a more transparent, accessible, and efficient art market.