Artists may need never worry about having their work counterfeited or stolen, thanks to a new patent filed by Security Matters (ASX:SMX).
The company, which makes track-and-trace technology that gives its customers supply chain integrity, brand protection and peace of mind, filed a patent in the US for polymers used in the detection and authentication of artwork, from fine art to the ancient.
It will bring blockchain and art together for the first time, and follows a busy period for the Israel-based company, which recently lodged a patent application for the detection of microplastics in the agriculture sector.
Earlier this month the company announced the completion of 500,000 codes created from its proprietary markers, outperforming a prospectus promise by a factor of 10.
The move into the art industry means Security Matters is now actively involved in more than a dozen industries.
The new tracers were designed to be incorporated into all materials of fine and ancient art without affecting the art in any way. This includes all paints, canvases, paper and frames.
Records are then logged onto the blockchain, and the authentication process takes place when the tracers are detected by the company’s proprietary reader.
Haggai Alon, founder and CEO, said his company’s revolutionary technology was creating a “digital twin” of highly valuable works of art.
“This patent is evidence of how far we have further developed our unique and proprietary technology to allow its integration into all aspects of artwork,” he said.
“This extends to the canvas or paper it is painted on, the paint itself or the frame it is displayed in. Art preservation and anti-counterfeiting is something we have worked very hard at for quite some time and we continue to explore opportunities in the industry.”
This content is produced by Star Investing in commercial partnership with Security Matters. This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Don’t miss a thing, subscribe now