«An art piece can now be traded in a way that was not possible before»

Reading time: 3 Min
Hannes Schmid is at the forefront amongst artists to tokenize his artwork with VP Bank. By tokenizing his art, the photographer provides art collectors an opportunity to own fractions of an artwork. In this interview, he talks about the benefits he sees in tokenizing physical assets and what the future of the art world might look like.
Can you give us a short introduction and share with us how you have started your journey as an artist?

I am a photographer, born in Switzerland and have lived in Paris, New York and London in my decades of work in photography. It is difficult to say when I started my artistic journey as I am constantly seeking to express myself through different subjects and channels. My visions and experiences transform my work as I grow into the varying situations or works that I have been tasked with. I have learned to live it.

You are certainly on the forefront in the art world to tokenize your art. Can you share with us which of the pieces you are choosing?

The first series which I have chosen to tokenise is Concerned Photography. Photography is ultimately a way of sharing information and raise awareness about what’s happening in our world. It is an opportunity to give a voice to the people who need it the most. Therefore the art works in this series is about a common daily situation that developing countries such as Cambodia are fighting poverty and lack of education.

Hannes Schmid
Hannes Schmid ©Keystone
Which of these works is your favorite and why?

There are a few and my favourite are the ones depicting joy in little things. There is the picture of the boy wearing the balaclava which he had found in the dump. You can see his happiness and joy that through his eyes! Or another favourite of mine is the little girl clutching her teddy bear and giving us a peace sign.

What advantages do you hope to gain from tokenization?

It is a new and secure way to protect copyrights and the originality of artworks. If an artwork is tokenized, it can be owned by one or several parties. This opens up a completely new art market. An artwork can be now be traded in a different method that was not possible before.

How do you think will the tokenization of artwork change or shape the world of art today? What are the opportunities or disadvantages?

Tokenization will change the art market completely. Traditional art trading will shrink, multiply owners of one artwork will be the future. This opens up a new world for the artist as he or she can remain a part owner of his own artwork. In addition, tokenizing art can be integrated in financial or asset portfolios reporting. This is a huge advantage for art collectors who previously reported and collected their paintings or other artworks in the traditional way. It will allow owners to use their art for liquidity purposes.