While art trading is a popular investment method, it is often out of reach of most people and traditionally 'reserved' for the very wealthy. The true value of affordable artists' work is difficult to appraise, and artists miss out on royalties as their works gain value and are re-sold. Peggy seeks to unite collectors and artists with an app-based market that verifies work, allowing it to be traded with confidence while also paying artists their share.
Peggy faces intense competition in the emerging online art market space. Artsy is a huge online market that relies on close relationships with galleries and art fairs, and Artfare specializes in in-house curation of local art scenes. Artists can also opt to sell their works directly through social marketplaces such as Etsy, Patreon, or Ko-Fi. However, Peggy hopes to stand out with its digital fingerprinting technology, which uses machine learning and AI to verify the authenticity of the artwork. These works can be traded on its social platform, creating an art market without the need for experts or auction houses.
Having recently raised a round of seed funding led by Real Ventures, Peggy is moving to take on new talent, accelerate growth and development, and expand operations while deepening its relationships with artists and galleries worldwide.
Freddie
Company Specialist at Welcome to the Jungle
