Dubai’s IBC Group has announced that it will partner with the Artifi Collection, an exclusive art gallery based in Canada that promotes the work of women artists and indigenous communities, to create Blockchain-based tokens that allow artwork to be sold and traded. The initiative aims to financially empower artists from around the world, through a mechanism that allows them to monetize their portfolio using Non Fungible Tokens (NFT).
Reshmeen Hooda, Co-Chairperson of Dubai’s IBC group, has announced that her group of companies will partner with Artifi, an art gallery and tokenization initiative by Canadian feminist, philanthropist and art collector Nazima Khan, to promote women artists globally.
The IBC Group will leverage its extensive experience in Blockchain and crypto markets, to enable the digital tokenization of the artwork of artists featured by Artifi. The initiative seeks to empower the creative endeavours of women artists around the world, by allowing them to access the financial value of their creations, through the digitized and tokenized patronage of a global community of art-enthusiasts and investors.
“Women artists have an important role to play in creating a gender-just world”, said Reshmeen Hooda. “A mechanism that empowers them financially is the most practical way to ensure that their creativity is part of the global discourse. We are developing a platform that unlocks the liquidity inherent in their creations through Blockchain-based digital tokens, to allow fractional investment into, and ownership of, the artwork”.
“IBC Group’s involvement with the project reflects the progressive gender policies being championed by the UAE based Blockchain Private Equity. Both the IBC Group and Artifi believe that, given the region’s focus on implementing Blockchain technology to create a more people-centric future, the UAE is the perfect location, as a home base for this project”.
As well as lending the project a strong regional flavour, the participation of Reshmeen Hooda, and Nazima Khan – who spends her time between Dubai, Toronto and across Europe – makes a statement in gender empowerment, with an appropriately all-woman team at the helm. In fact, the proposed online tokenization platform will be entirely owned and operated by women.
“Having been involved in promoting women artists through Artifi, I am aware of the significant challenges many of them face, despite the excellence of their art”, said Nazima. “We have had some success in drawing attention to their art, through showcase events. But with the restrictions imposed by the Covid-19 pandemic, it makes sense to leverage Blockchain technology to unlock value for artists as well as to monetize the support of art buffs. It’s a win-win, resulting in financial security for the artist, and investment opportunity for the patrons”.
“The project will result in fairer valuation mechanism of the artwork, based on interest among art-enthusiasts, rather than the sub-optimal appraisal mechanisms typical of traditional financial institutions”, Reshmeen Hooda added. “I am struck by the powerful messages conveyed by the creations of women artists. The distinctive groundwork, social research and emotional intelligence of female art gives voice to new perspectives on everyday issues”.
“This initiative is a great way to start new conversations, elevate emotional connection through art, and seek solutions to the challenges women around the world face, in social and work environments. Technology has made it possible for us to take action and highlight these issues globally, while empowering women artists to express themselves and develop their portfolio of work”, Reshmeen concluded.
About IBC Group
IBC Group Limited is a Substantial Investment Company based in the UAE since 2014, with a focus on private equity investment in Blockchain Technology, Real Estate and Art. Since its inception, the IBC Group Limited has focused on investments with a strategic, ethical and innovative strategy, leveraging strong partnerships and cutting edge technologies. https://www.ibccapital.org/
About Reshmeen Hooda
Co-Chairperson of IBC Group, an art collector and supporter of women arts Asia and Africa. A Masters in Business Administration, she is a mother of three budding artists. She has travelled the world and has an extensive collection of female artist’s artworks. She has been an avid promoter of women development and financially empowered 100s of female artists. Reshmeen is a founding partner of IBC Group. She is the first female to be elected to the Board of the worldwide International Art Gallery headquartered in Dubai, UAE and has been on the fundraising committee for several art museums globally. As Co-Chairman of the IBC Group, she has pledged 10,000 Bitcoins for women artists around the world.
About Nazima Khan
Nazima Khan is the founder of the Exclusive Artifi Gallery which promotes women development and empowerment among first nation and indigenous traditions in Canada. She is a Graduate of Hospitality and Tourism Management from Ryerson University and a mother of three. Nazima is a founder of the Canadian Based Art Gallery Artifi and advises Gender Equality Roundtable. As founder of the Artifi, she has created one of the world’s most unique private gallery, for women artists around the world. Nazima is an avid traveller and passionate about collecting art work globally. She believes in order to empower female artists curators need to incentivized and female artists need better exposure and capital resources.