NEW YORK, May 10, 2018 /PRNewswire/ — Masterworks today announces its launch as the world’s first blockchain-based fine art investment platform that will allow anyone to invest in specific works of art. All offerings will be filed with the Securities and Exchange Commission with share ownership recorded on the Ethereum blockchain to provide transparency to investors.
Andy Warhol, 1 Colored Marilyn (reversal series), 1979, oil and silkscreen inks on canvas, 18 1/4 x 13 3/4 in. (46.4 x 34.9 cm)
For its inaugural offering, Masterworks plans to offer an investment in Andy Warhol’s 1 Colored Marilyn (Reversal Series), 1979. Purchased by the company in November 2017 at Phillips’ 20th Century & Contemporary Art Evening Sale for $1,815,000, investors will be able to invest in Warhol’s iconic 1 Colored Marilyn (Reversal Series) for as little as $1,000 USD.
Masterworks founder, collector and Internet entrepreneur Scott Lynn sees the blockchain as a way to democratize aspects of art collecting that have traditionally been made inaccessible due to the high barrier to entry. Lynn states, “Artwork made by some of the world’s most significant artists tends to appreciate at the highest rates, but very few people can access them due to the price point. Masterworks aims to make it possible for anyone to invest in this asset class by offering the opportunity to invest in artworks at an affordable entry point.”
According to a 2018 report by Art Basel & UBS, works sold for more than $1 million accounted for 64% by value in 2017, the highest level in three years, despite only accounting for 1% of all transactions. “These are the exact types of works that we are looking to add to our platform,” Lynn stated.
Anyone interested in learning more about investing in Masterworks’ initial offering can do so by visiting www.masterworks.io.
ABOUT MASTERWORKS
Masterworks was founded in 2017 by Scott W. Lynn as a platform to democratize the art world by making fine art investment accessible to all.
ABOUT SCOTT W. LYNN
Scott Lynn is an Internet entrepreneur who has founded, acquired, or acted as a majority-investor in over a dozen advertising technology, content, and fintech companies. An active collector of contemporary art for over fifteen years, Mr. Lynn has has built an internationally-recognized collection of Abstract Expressionism that has included works by Clyfford Still, Barnett Newman, Mark Rothko, Willem de Kooning, and more. Mr. Lynn’s collection has been exhibited at several major museums, including MoMA, National Gallery of Art, the Royal Academy of Arts in London, and more.
To learn more about Masterworks, or to join the waiting list for Andy Warhol’s 1 Colored Marilyn (Reversal Series), visit www.masterworks.io.
** TESTING THE WATERS **
WE ARE “TESTING THE WATERS” UNDER REGULATION A UNDER THE SECURITIES ACT OF 1933. THIS PROCESS ALLOWS COMPANIES TO DETERMINE WHETHER THERE MAY BE INTEREST IN AN EVENTUAL OFFERING OF ITS SECURITIES. WE ARE NOT UNDER ANY OBLIGATION TO MAKE AN OFFERING UNDER REGULATION A. WE MAY CHOOSE TO MAKE AN OFFERING TO SOME, BUT NOT ALL, OF THE PEOPLE WHO INDICATE AN INTEREST IN INVESTING, AND THAT OFFERING MIGHT NOT BE MADE UNDER REGULATION A. IF WE GO AHEAD WITH AN OFFERING, WE WILL ONLY BE ABLE TO MAKE SALES AFTER WE HAVE FILED AN OFFERING STATEMENT WITH THE SECURITIES AND EXCHANGE COMMISSION (SEC) AND THE SEC HAS “QUALIFIED” THE OFFERING STATEMENT. THE INFORMATION IN THAT OFFERING STATEMENT WILL BE MORE COMPLETE THAN THE INFORMATION WE ARE PROVIDING NOW, AND COULD DIFFER IN IMPORTANT WAYS. YOU MUST READ THE DOCUMENTS FILED WITH THE SEC BEFORE INVESTING.
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NO MONEY OR OTHER CONSIDERATION IS BEING SOLICITED, AND IF SENT IN RESPONSE, WILL NOT BE ACCEPTED.
NO OFFER TO BUY THE SECURITIES CAN BE ACCEPTED AND NO PART OF THE PURCHASE PRICE CAN BE RECEIVED UNTIL THE OFFERING STATEMENT FILED BY THE COMPANY WITH THE SEC HAS BEEN QUALIFIED BY THE SEC. ANY SUCH OFFER MAY BE WITHDRAWN OR REVOKED, WITHOUT OBLIGATION OR COMMITMENT OF ANY KIND, AT ANY TIME BEFORE NOTICE OF ACCEPTANCE GIVEN AFTER THE DATE OF QUALIFICATION.
AN INDICATION OF INTEREST INVOLVES NO OBLIGATION OR COMMITMENT OF ANY KIND.
AFTER THE OFFERING STATEMENT HAS BEEN PUBLICLY FILED YOU MAY OBTAIN A COPY OF THE PRELIMINARY OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT AT WWW.MASTERWORKS.IO.
** FORWARD LOOKING STATEMENTS **
THIS RELEASE MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THIS RELEASE, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT OUR CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL EVENTS OR CIRCUMSTANCES TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. YOU SHOULD NOT PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
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SOURCE Masterworks
