3 July 2020
International law firm Taylor Wessing has advised Perpetual Altruism on the launch of its new digital collectible auction house, Cryptograph.
Aiming to become a market leader in blockchain based digital collectibles and artwork, Cryptograph will feature new and original digital art and memorabilia from some of the world’s most renowned artists and icons.
The introduction of this highly anticipated platform is scheduled for Monday 6 July. Taylor Wessing supported Cryptograph to enable the launch of this innovation by creating a digital content contractual license and ownership structure following a blockchain token which allows for perpetual assets to keep giving to creators and charities.
The team provided analysis to identify the necessary regulatory requirements and additional recommendations to operate as a best in class digital collectible auction house. In-depth analysis of the platform and the creative advice of the team from their experience with other digital platforms provided additional value.
Crypto world leaders, led by Ethereum’s Vitalik Buterin and Bitcoin.com CEO Roger Ver are some of the first committed to auctioning off original digital artworks via the new Cryptograph platform to benefit charitable causes close to their hearts.
Cryptograph founder Edouard Bessire said: "Technological innovation often works in tandem with legal innovation: Both are needed for a new product or service to work. Being at the cutting-edge of technology, Cryptograph needed the right foundation for us to build a lasting business. Working with Taylor Wessing since day one gave us the advice and framework to build something that works for our creators, for our collectors, and for us. The team has been and is on our side as we finally unveil our exciting project."
Commenting on the firm's work with Cryptograph, partner Graham Hann said: "Cryptograph has created a sustainably philanthropic platform that utilises the Ethereum Blockchain and smart contract technology in a completely new way. Regulatory and licencing considerations were obviously a priority, but working with Cryptograph provided opportunities for our teams to share some really creative solutions to ensure the platform's success and, most importantly, maximise its innovation. The combination of our expertise in the tech and media sectors, working with new companies and innovators, and our ongoing commitment to the arts made this a really exciting project to work on together. There's no doubt that the platform will shake up the cryptosphere and push the boundaries of what is possible within the space."
The team was led by partner Graham Hann with support from associates Mary Rendle and Matthew Ives.