Kite Art

Kite Art project overview

• Project concept
• Team
• Investors
• Token Utility & Tokenomics
• Social networks & links

Tokenization is increasingly being integrated into various sectors, even those not directly related to cryptocurrency.
Through Web3 technologies, tokenization has also reached the realm of art collection. This is not about NFT collections that any advanced user familiar with crypto technologies can release, but about high art pieces and works by truly renowned contemporary artists.

The elite art market is just beginning to leverage blockchain technology and attract liquidity from the Web3 space.

What are the obstacles?

Exclusivity and inaccessibility

• Expensive elite art is always in demand among wealthy collectors
• The public has limited access to works by top artists

Lack of liquidity and difficulties in buying/selling

• Collectors do not have the ability to easily buy and sell expensive items
• It is challenging to accurately determine prices in the secondary market
• The cycles from purchase to sale of artworks are usually lengthy

Static market

• The art world is not very susceptible to innovation
• The market is conservative and historically resistant to change
• The traditional art world lacks knowledge of Web3

High entry cost

• Owning works by artists like Banksy is currently considered only by a select few
• Access to high art is limited: difficulty in assessing masterpieces and high risk of obtaining counterfeit paintings

The project's model offers:

Fractional ownership

• Allowing buyers access to only a part or fraction of an expensive piece of art
• Making high art accessible to a wider audience
• Reducing barriers to investing in this market and accessing cryptocurrency liquidity

Tokenizing artworks, thereby proving ownership rights and authenticity

• Tokenization of high-value art into NFTs
• Providing proof of ownership and valuation of the item through Web3 technologies
• Ensuring transaction transparency via blockchain

Creation of a digital platform

• A convenient platform for buying and selling NFTs
• Concierge service for both experienced and new investors
• Offering new NFTs through the tokenization of artworks
• Diversification into alternative asset classes

Democratization of the art market

• Opening the world of art to new buyers
• Providing incentive opportunities and various formats of participation
• Facilitating and supporting a new and inclusive community of investors

Similar to how the Insider Club segments a project's allocation into many small parts, forming a large investment package through mutual agreement, Kite Art will divide ownership rights of a world masterpiece into shares in the form of NFTs. Platform users can collectively purchase ownership rights to a painting. The painting is displayed in a public gallery, increasing its popularity and value over time. Subsequently, users can sell their ownership shares at a profit, making a lucrative investment in a globally renowned masterpiece.

The unique model of Kite Art is designed with unlimited scalability. Essentially, the system thrives through a continuous cycle of purchasing artworks at reduced prices and tokenizing these assets on the blockchain. This approach ensures that the more funds are introduced into the system, the more artworks are acquired, thereby continuously increasing the value of the platform.

Each acquisition of new artworks and their subsequent listing on the blockchain enhances the overall value of the system. Holders benefit from this ever-growing ecosystem, as the expanding pool of assets provides broader opportunities.

The process of acquiring artworks, tokenizing them, and integrating them into the Kite Art platform is optimized and continuous.

This ensures unlimited scalability of the platform, driven by user participation and market demand.

The Kite Art model exemplifies how blockchain technology can be used to create self-sustaining and ever-expanding opportunities, offering continuous scalability and profitability.

The platform provides access to new artworks, their tokenization (minting as NFTs), listing, purchasing, and subsequent trading of these items. The NFT marketplace for the platform is developed by Kite Art's partner, Lux Labs.

The growth rate of contemporary art prices has been 12.6% per year from 1995 to 2022, surpassing stock market indices. This makes it a stable alternative for preserving wealth in artworks, which is particularly valuable in the volatile crypto market.

Specific examples of contemporary artists' works sold at significant profits within just 10 months and 5 years are showcased.

Team

The strong and experienced founders, with extensive connections in the traditional financial world and a passion for their project, are based in London.

One of the project's founders — Ben Eine — world-renowned contemporary graffiti artist and business partner of Banksy, the number one artist in the street art scene. Tokenizing some works of Banksy and Ben Eine on the Kite Art platform will attract significant media attention to the project.

• Nick Magliocchetti — co-founder and CEO.
  Nick is an experienced executive with over 20 years in leadership positions across various major banks and companies in the traditional financial sector. His financial group, based in the Channel Islands, provides software for KYC, AML, and fintech payments, catering to both small and medium-sized businesses and globally renowned financial "blue chips." With a passion for art and technology, Nick is helping the art market bridge the gap with modern Web3 tools. Previously, Nick was the CEO of Eyestorm, one of the first English online art publishers.
  Nick also holds positions on boards and various committees in the AI and robotics sectors. For five years, he was part of the selection committee for Microsoft's venture division projects.
  https://uk.linkedin.com/in/magliocchetti
• Toby Meller — co-founder and COO.
  Toby holds a degree in economics and finance. With a focus on financial markets and technology, he has developed an interest in investing in Web3 and studying blockchain technologies since 2017. He is the president of the blockchain community at Sussex University and a content creator for blockchain startups.
  Toby is a partner at Motion Ventures, where he has worked on technology solutions for major clients, including global giants like Unilever. Through Motion Ventures, Toby has provided analytics and consulting to help numerous companies embrace Web3 technologies.
  https://gg.linkedin.com/in/toby-meller-84a3744a
• Ben Eine — co-founder, product director, and art director.
  Ben is one of the world's most famous and successful street artists, considered a pioneer of the graffiti lettering style. He began his career over 30 years ago and has since developed his own recognizable calligraphic style. Many of his works have appeared throughout London, influencing the city's contemporary style. His partnership with graffiti artist Banksy significantly impacted the commercial success of both artists, and in 2003, they founded the famous studio "Pictures on Walls," which focused on printing, popularizing, and selling street art.
  Ben's international recognition grew further when his painting "Twenty First Century City" was presented to US President Barack Obama as an official gift from UK Prime Minister David Cameron in July 2010.
  Ben's works are now in the permanent collections of the Victoria and Albert Museum in London, the Museums of Contemporary Art in Los Angeles, San Francisco, and Berlin, the private collection of Louis Vuitton, and many other collections.
  https://einesigns.com/

Advisors of the company are the founders of the venture fund NxGen.

• Simon Schwerin — strategic advisor.
  Simon is the founder of NxGen, a partner at Iconomy Partners and Longterm Ventures, and a consultant to numerous leaders in the crypto industry.
  https://linkedin.com/in/simonschwerin

• Joeri van Geelen — strategic advisor.
  Joeri is the founder of NxGen, a partner at Longterm Ventures, and previously the managing partner of the Asia-Pacific branch of Prysm Group, as well as a leading consultant in the blockchain industry.
  https://linkedin.com/in/joerivangeelen

Investors

The project has garnered support from several strong funds with impeccable reputations in the Web3 community, led by Wintermute and NxGen, who invested in the project during the Seed round.

• Wintermute — leading global algorithmic trading company in the field of digital assets, creating liquid and efficient markets on centralized and decentralized trading platforms, as well as over-the-counter. The company provides liquidity on over 50 exchanges and trading platforms. Some of the most notable projects in their portfolio include decentralized exchanges dYdX and Hashflow, the financial oracle Pyth, and DeFi sector companies Ondo Finance and Ethena.
• NxGen — rapidly growing fund that actively invests in and supports interesting projects as advisors, backing them throughout their market launch lifecycle. This includes connections with strong investors and service providers such as market makers, exchanges, launchpads, auditing firms, and influencers. NxGen prefers to enter projects at the earliest stages, investing in teams with leading founders. They have invested in the Primex Finance protocol, whose pool was successfully raised by partners of the Insider Club. They have also invested in well-known projects such as Entangle, Truflation, Privasea, and Koii Network.

Token Utility

The $KITE token is used to support the platform and community and provides:

• Exclusive access to high-value art investments through the platform.
• Governance.
  Community-driven selection of artworks: token holders can influence the choice of artworks for tokenization through a multi-level voting process.
• Buyback and burn mechanism.
  Increases the token's value by reducing supply, funded by the platform's revenue (sales commissions).
• Artist engagement.
  Enhancing community interaction with art studios and future works by top-level artists.
• Staking rewards.
  Stakers will receive a percentage of the platform's revenue from commissions.

Tokenomics

• Token: $KITE
• Total supply: 1 billion
• Network: Ethereum
• Round: Private (valuation of $17 million)
• Token price: $0,017
• Conditions: TGE 0%, no cliff, immediately begins a linear unlock for 18 months
• TGE: Q4 2024

Seed round was held at $0.015 per token. The public sale will trade at $0.030 with a round valuation of $30mn on major Bitcoin ecosystem lunchpads.

Listing negotiations are underway with top exchanges ByBit, Gate.io and KuCoin.

Social networks & links

🌐 Website: https://www.kiteart.xyz/

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