GTII’S DIGITAL ART PLATFORM
GTII is in the process of animating a digital platform, formed together with Alt5 Sigma, for the purpose of acquiring fine art and other collectibles that will be tokenized and eventually issued to its shareholders as Tokenized value dividends. This undertaking signifies a new and revolutionary method for offering value to GTII shareholders and as a way of participating in the shared ownership of fine art and collectibles using Non-fungible tokens.
A non-fungible token (NFT) is a unit of data stored on a digital ledger, called a blockchain, that certifies any digital file to be unique. An NFT functions like a cryptographic token, but unlike cryptocurrencies such as Bitcoin, are not mutually interchangeable, in other words, not fungible. NFTs are created when blockchains string records of cryptographic hash, a set of characters that verifies a set of data to be unique, onto previous records therefore creating a chain of identifiable data blocks. This cryptographic transaction process ensures the authentication of each digital file by providing a digital signature that is used to track NFT ownership. Because of the ability of blockchain technology to assure the unique signature and ownership of NFTs, digital art was an early use case for NFT’s. www.wikipedia.org/wiki/Non-fungible_token
PURCHASE OF THE PICASSO BY GTII
Mr. Ronald Cavalier, founder of Cavalier Galleries Inc. www.cavaliergalleries.com., a group of four art galleries, with locations in Greenwich, CT, New York City, Nantucket Island, and Palm Beach, FL. was retained in April 2021 by GTII as an expert consultant in the procurement and purchase of fine art for the digital platform project. Mr. Cavalier engineered the purchase of an original Picasso at a Phillips Auction House in New York City.
The picture, ‘Quatre femmes nues et tete sculptee’ was executed in 1934 on Montval laid paper and published by A. Vollard, Paris, in 1939. It is signed in pencil, from the edition of 260 and numbered ‘347’ in the Henri Petiet inventory system in the lower left corner. Picasso’s signature can be seen in the lower right corner. This purchase will function as the cornerstone of GTII’s digital fine art and collectibles platform and be the first of several potential acquisitions. The move to purchase such a celebrated and valuable piece of fine art demonstrates GTII’s commitment to the digital platform undertaking.
GTII is working with Alt5 Sigma, a digital assets trading, exchange and custodian services provider headquartered in New York City, to construct and stage the platform to allow shareholders and the public to set up ‘digital wallets’ for the purpose of investing in fine art and collectibles using non-fungible tokens. Alt5 Sigma has already started its work in tailoring GTII’s digital platform to the Company’s needs and is working to tokenize the newly acquired Picasso.