Blockchain-based art investment platform Maecenas has teamed up with crypto exchange Ethershift.co and computer security expert John McAfee to conduct the first "perpetual" digitalization and tokenization of a Picasso work of fine art.

The project is codenamed "Project Phoenix".

We are tokenizing a masterpiece, and making the painting perpetually inaccessible. Any eventual release date of the physical painting can only be decided via a voting process by token holders, after the minimum amount of time has passed well into the future.

The auctioning process will be executed using Maecenas technology. The newly created digital asset, the first of its kind, will be represented as a single ERC721 token for the digitalized artwork. A fixed number of ERC20 tokens will separately represent shared ownership in the physical asset.

Unlike previous asset tokenizations performed by Maecenas, Project Phoenix will be a fully decentralized exercise, and the resulting unique tokens will be created on the public Ethereum blockchain.

The auction will take place around the year-end Holiday season.

Specific details and information will be announced in December. Find updates and information about Project Phoenix on the Maecenas website at https://www.maecenas.co.

If you're interested in participating in the auction, or have any other questions or inquiries email contact@maecenas.co.

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