The Goal
Van Gogh
"Patch of Grass"
For this work, Van Gogh reuses a canvas that he’d already painted some two and a half years earlier in Nuenen: x-ray photos reveal the head of a woman with a cap under this art.
Hover your cursor over the painting to expose the veiled Underdrawing.
A Path Forward For Museums
That Generates Income And
Establishes An Annunity
SD Gallery intends to license exclusive copyright claims to the underdrawings of particular artworks currently housed in some of the world's museums. Following the acquisition of said license, SD Gallery will proceed, with the museum's consent, to implement one of the following income-generating strategies:
Option A
SD Gallery will tokenize a museum's proprietary underdrawing and integrate it with a smart contract. SD Gallery will then oversee the auction of this NFT on behalf of the museum. The smart contract will ensure that the museum receives royalties each time the NFT is resold on the secondary market.
The museum will receive the auction hammer price and the income stream from the annuity specified in the smart contract, minus fees.
As the underdrawing is permanently linked to the masterwork, the museum will remain its custodian indefinitely. The smart contract will detail the rights and privileges of this custodianship, prioritizing the museum's interests.
The highest bidder will receive a framed digital image of the original masterwork, along with an embedded digital image of the underdrawing. Technological advancements will allow the viewer to toggle between the masterwork and the underdrawing, displaying them stacked one over the other.
SD Gallery will create an LLC, fractionalize and tokenize the underdrawing, and register these fractional shares with the SEC as qualified investments. This will allow the museum to attract both retail and accredited investors.
The museum will maintain 51% majority ownership, while the remaining 49% of the shares will be available for sale. These fractional shares will also be tradable on a secondary market to enhance liquidity.
In addition to the proceeds from the sale, minus fees, the museum will receive a predetermined royalty for each share transfer, as specified in the smart contract. SD Gallery, acting as the LLC custodian, will charge an annual management fee of 1.5%.