Portion.io is an online marketplace for digital and physical art and collectibles. The platform connects artists and collectors through blockchain technology, making them easier to own, sell or invest in art and collectibles with complete transparency. The platform uses smart contracts on Ethereum and IPFS to enter art and collectibles into a new market. Artists and collectors are directly connected through DeFi to easily own, sell, or invest works with complete transparency. The New York-based platform was founded in 2016 by Jason Rosenstein.
Since the platform is based on Ethereum, it is decentralized and enables users to earn tokens by renting out anything to other users. The platform eliminates intermediaries and the transaction fees charged in the traditional art and collectibles platforms. Hence, Portion.io empowers users to digitize media assets and gives them new means of expression and liquidation.
Portion.io combines physical art, collectibles and crypto variations making creativity a means of expression and direct access to collectors. Portion.io marketplace incentivizes artists to participate in the decentralized platform for the sale of art collectibles. Sellers on the platform create artwork and collectibles targeting the Millenials and crypto-collectors. Portion’s technology comprises resale royalties and patronage. It is more concerned with the buying and selling experience on the marketplace.
The marketplace offers loans and finance in either crypto or fiat, using secondary smart contracts and following regulatory compliance. Users of the Portion platform use their authentic art and collectibles as collateral to receive secured loans. It also offers loans to sellers as an advance on a sale. It only applies to individuals having authenticated goods or purchased goods on Portion without taking physical possession of the object.
The bid or ask model helps Portion Marketplace users freely trade digital and physical goods and acts like a stock exchange. Digital (art and collectibles) Portion allows creators to tokenize any media format by simply dragging and dropping on a web portal. The Portion obscures the blockchain backend eliminating the need for plug-ins or third-party applications.
The platform is open for any interested member to join, and it focuses more on the community of creators and collectors. It makes Portion inclusive to traditional artists and crypto-enthusiasts. When Users utilize the Portion platform, the sellers set the price to expect for a particular piece, and collectors offer the price they think is ideal to the seller. When the seller and the collector come to terms and agree on the pricing, the transaction is complete. In so doing, the creator receives a substantial if not satisfactory for their work. Additionally, the model serves to shed light on the market desire and add the artwork to the artist.
There are essential features highlighted on the website:
- What is Portion - the section gives an overview of the Portion.io platform
- Technology- The section shows a step by step outline of how the technology integrates to run the whole platform.
- Financial services- The section explains various parts of the business expansion
Meet Portion- Allows interested individuals to become collectors, manage and exchange the digital.
- Portion tokens- It shows the tokens present at the marketplace and how they are distributed.
- Portion road map- the section outlines the contributors and advisors.
Though the platform is built on Ethereum blockchain, it uses Portion Token as the native digital cryptographically-secured utility token. The token Iis used for governance as well as granting voting rights.