Cody McGrath 
The Royal Museum of Fine Arts Antwerp (KMSKA) became the first European museum to tokenize investment in fine art according to Tokeny, commencing with Belgian painter James Ensor’s (1860–1949) work “Carnaval de Binche.”
Investors can purchase partial ownership of the piece for 150 euros (about $158). The project is a collaboration between KMSKA, Tokeny, and Rubey, a blockchain art company. The tokens are ERC-3643 compatible and will launch on the Polygon (MATIC) blockchain.
According to the parties, the collaboration’s ultimate goal is to remove financial barriers to entry and allow everyday users to become co-owners of pricey fine art objects that are normally exclusively available to the wealthy.
Individuals were able to collectively purchase and assure that KMSKA receives it on a long-term loan through an innovative fundraising approach called an Art Security Token Offering.
The Art Security Tokens used in the transactions are backed by debt securities, unlike nonfungible tokens. Tokeny’s tokenization APIs were chosen by Rubey to issue and manage securitized tokens in a regulatory-compliant way. Luc Falempin, CEO of Tokeny, had this to say about the development:
“We share the same vision as our partners KMSKA and Rubey that security tokens will have a real impact on the art industry by allowing smaller investors to invest and engage in artworks that already have existing value.”
Meanwhile, KMSKA President Luk Lemmens added:
“KMSKA already had the largest Ensor collection in the world. The addition of Carnaval de Binche puts our museum on the international map as an Ensor center of excellence even more.”