From Rolex to Picasso, luxury goods and art have reached unprecedented popularity in recent times. As of 2022, the global art market is estimated to be worth over $67 billion, with the luxury goods market being valued as high as $350 billion. However, unfortunately for brands, artists, and consumers, questions of authenticity and provenance have never been more pertinent.
In fact, some sources estimate that the fashion industry alone has lost a whopping $47 billion dollars to fake products in 2020. In the art space, various observers further noted that counterfeit art not only impacts the market value of artworks but also significantly erodes trust while also diminishing the historical significance of pieces. But it doesn’t have to be this way.
By combining the power of AI and blockchain, the Swiss startup SmartStamp has developed a new solution that enables artists and collectors to authenticate and verify artworks and luxury goods such as watches with nothing but a smartphone and its cutting-edge mobile app.
Enter SmartStamp
Founded by Juli Cho Bailer and her business…