Fairchain

Over the past few decades, the contemporary art market has seen an explosion of growth. However, outdated ways of buying and selling art have stagnated the market, and the lack of a clear transaction framework has left artists, galleries, and collectors taking on more risk and operating on speculation. Fairchain offers a solution for these key players. Fairchain’s solution is a platform that provides title management, authentication, and transaction services for fine art, with a high-impact social mission. Fairchain empowers artists to earn a sustainable income through ongoing royalties, whenever their art is resold. They also support the artistic community through its nonprofit, Fairchain Fund for Working Artists.

Fairchain founders, Charlie and Max, needed to develop their blockchain-powered app quickly to maintain investor trust and gain further backing. Their goal was to create a user-friendly app that could register the sale of artwork using digital contracts, guarantee authenticity, and keep track of the artwork. They lacked a full-scale technical team and the expertise to rapidly develop the app in-house but wanted to be as hands-on as possible during development.

This is where Theodo came in.

Our work resulted in significant improvements to the Fairchain platform. We revamped both the frontend and backend infrastructures to deploy a stable production environment capable of supporting transactions of $50,000 or more.

Our solution focused on security and efficiency, enabling a Fairchain contract to be drafted and sent to a collector within minutes. Since the app's launch, several hundred pieces of art have been sold through Fairchain.

We also worked with Fairchain to develop their internal technical recruitment process and helped them recruit and lead technical interviews. By the end of our engagement, Fairchain had hired 2 software engineers, enabling them to expand their capabilities. Overall, our partnership with Fairchain enabled them to achieve their goals and offer an enhanced way of doing business for the contemporary art market.