Ushering in a New Era of Global Art Authentication: ArtRecord Uses Optics, AI, and Blockchain to Establish Scientific Art Verification Standards

According to the Art Basel and UBS Global Art Market Report 2024, global art market sales reached $65 billion in 2023, indicating sustained growth in the high-end art sector and stable collector demand. However, unlike the jewelry industry, which benefits from the globally recognized GIA authentication system, the art market still faces significant challenges in ensuring provenance and authenticity. Wu Sui-hua (伍穗華), Chairwoman of ArtRecord Co., Ltd., is determined to use technological methods to solve the authentication and verification issues in art transactions.

Ms. Wu pointed-out that art verification traditionally relied on written documentation from appraisal experts to prove authenticity. However, these methods are prone to issues like documentation loss, the natural degradation and aging of the artwork itself, which lead to uncertainty in the verification process. To overcome this challenge, Ms. Wu began seeking scientific solutions five years ago.

Through extensive efforts, Ms. Wu successfully integrated optical sampling technology with AI algorithms. By scanning a painting with a digital microscope, the system collects detailed information on the artwork's pattern, texture, and brushstrokes. An AI model then uses this data to generate the artwork's unique "fingerprint." Furthermore, the AI technology can predict the artwork's aging process, including oxidation, soiling, and yellowing. All these critical data points are uploaded onto the blockchain to ensure the digital certificate aligns 100% with the physical artwork. Because the blockchain is immutable and digital certificates are resistant to loss, this technology significantly enhances the credibility of art verification, providing greater security and transparency for art transactions.

After more than a year of intensive technological development, the team officially launched this evidence collection technology this year. The platform received verification requests for hundreds of artworks upon its debut and gained technical approval from the Taiwan Art Gallery Association (TAGA), successfully raising the team's profile. However, Ms. Wu is keenly aware that continuous technological optimization and market expansion require more financial support. Attracting investor attention is a key challenge for the team's future operations. This is why Ms. Wu decided to join the Taiwan Creative Content Agency (TAICCA) Accelerator. She hopes to leverage the accelerator's resources and professional mentorship to boost the team's investment appeal and build an art verification platform with greater market influence.

"The mentors first advised us to get our service to the international market as soon as possible," said Ms. Wu. Thanks to her extensive experience in the jewelry market, Ms. Wu has a rich network of high-end clients and international contacts. For this reason, the mentors at TAICCA (Taiwan Creative Content Agency) suggested that ArtRecord's technology should expand to a larger market, not just for general consumers but also for B2B clients like museums and galleries.

However, securing funding is crucial for accelerating an international expansion plan. Ms. Wu admitted that despite her entrepreneurial experience, this was her first time raising capital. With guidance from the TAICCA mentors, her pitch deck logic underwent a significant change. "Before, I always focused on technology and our service," Ms. Wu explained. "Of course, that's still important, but the mentors reminded me that the 'helmsman' of the team is the key to success." Based on this advice, Ms. Wu began to focus more on the team's background, core strengths, and resources, allowing investors to clearly understand how the team leader could solve future challenges. This change completely transformed her fundraising approach.

Ms. Wu's goal is now clearly set on the two major art markets: the United States and Japan. She plans to open the door to these two markets, either through a self-operated model or technology transfer, as soon as the funding is in place. "I believe that using technology to solve problems in the art world is a fair method that everyone can accept," she said. With this belief, Ms. Wu will lead her team to use a scientific approach and leverage her extensive experience in the jewelry market to create a new blueprint for the art trading industry.