ONE SMALL TOWN Art Galleries are changing the way that art is sold
Artists receive 60% of the selling price from the first auction or sale. After the first sale, OST artists continue to receive a 10% royalty on every future re-sale of their works. The same way that musicians and authors receive royalties for sales of records and books.
Each work of art is turned into an NFT (non-fungible token) with a unique identification code, which becomes its certificate of authenticity. With each re-sale of the piece, the NFT certificate is passed onto the new owner as proof of authenticity and chain of custody.
10% of the selling price is automatically reserved for the artist as a royalty. Both the physical and digital version of the artwork can be sold and re-sold, always accompanied with a certificate of authenticity.
Art owners selling their art on this platform, will automatically initiate a flow of royalty payments to the original artist/creator of the art piece. OST curators will do everything in their power to find the original artists to load them onto our system for their ongoing future royalty payments.