PremFina’s Art&Co. – The World’s Largest Online Art Auction is 1st to Disperse Funds via Blockchain Technology
Art&Co., an initiative connecting the worlds of art, finance and support groups, brings continued relief to COVID-19 victims. Art&Co. is the 1st Ever Blockchain Technology Art Drive for COVID-19 Relief with LuxTag. It is backed by PremFina (“PremFina” or the “Company”), the U.K.’s first venture capital backed alternative insurance premium finance company, as well as its sister company InsurAid.
InsurAid is an industry moment that’s “unconditionally supporting the uninsurable” during such times of unforeseen catastrophes, that insurance companies are virtually unable to predict, let alone calculate and price for the risk of potential causal loss.
Art&Co. aligned itself with blockchain technology firm LuxTag because it has emerged as a solutions-based technology during COVID-19.
More from Interviews
- A Chat With Cathie Hall, Chief Customer And Product Officer At IFS, On How AI Can Preserve Institutional Knowledge
- A Chat With Dr Kayode Adedapo Kolawole, Sales Director At Nagode Industries And SaaS 66 Judge
- A Chat With Dearbhail Ormond, Founder Of frendo, On Building Free Support For Endometriosis
- A Conversation With Semrush On AI Search, Brand Visibility And Spotlight 2026
- A Chat With Ollie Whiting, CEO Of La Fosse, On The Human Side Of Digital Change
- A Chat With Chris Kincade, Founder Of Starling Memory Works, On Why Your AI Doesn’t Know Your Business
- A Chat With Mark Boost, CEO And Co-founder Of Civo, On Data Sovereignty And The Case For A UK-First Cloud Strategy
- An Interview With James Murdoch, Director Of Kynekt, The UK’s Leading Equipment Protection Platform For The Construction And Trades Industry
“The COVID-19 coronavirus has impacted countries, communities and individuals in countless ways, from school closures to health-care insurance issues not to undermined loss of lives. As governments scramble to address these problems, different solutions based on blockchain technologies have sprung up to help deal with the worldwide health crisis.
A blockchain is an essential tool for establishing an efficient and transparent healthcare business model based on higher degrees of accuracy and trust because technology is a tamper-proof public ledger. Blockchain will surely not prevent the emergence of new viruses itself, but what it can do is create the first line of rapid protection through a network of connected devices whose primary goal is to remain alert about disease outbreaks. Therefore, the use of blockchain-enabled platforms can help prevent these pandemics by enabling early detection of epidemics, fast-tracking drug trials, and impact management of outbreaks and treatment.“
Founder Art&Co., CEO PremFina, CEO InsurAid – Bundeep Singh Rangar: “Blockchain and the use of data via cryptocurrency and bitcoin is the future of how wealth will be exchanged. Art&Co. worked with LuxTag to produce a live art auction for charitable causes effected by COVID-19. Not only did we successfully use LuxTag’s incredible blockchain technology to disperse funds to these charities, but we bridged the gap between art and technology in a philanthropic way.”
Founder of LuxTag – Jeff McDonald: “Artwork is of unique beauty. Often, the beauty lies in its uniqueness. At LuxTag, we work hard to protect unique objects and their authenticity – projects like Art&Co 2020 are duly close to our heart. Blockchain technology, authenticity and provenance of artwork are vivid examples of how traditional crafts can be enhanced with modern tech.”
The collated artwork is worth $1.5 million, prices ranging from £1,000 ($1,250) to £24,000 ($30,000), consisting of a collection of 266 items, 14 lots x 19 pieces each, symbolic of the COVID-19 virus.
In addition to famous artists such as Pablo Picasso, Andy Warhol, Salvador Dali and Jeff Koons, there were 46 artists as a mosaic of the UK population at large with 80% UK artists and 20% foreign. International artists represented were from Australia, Bulgaria, Canada, Czech Republic, India, Italy, Latvia, Nigeria, Poland, Portugal, Russia, Singapore, Slovakia, Spain and the United States.
The final live auction welcomed well-known tech investor and guest speaker Tim Draper.
For more information, visit: www.artandco.net
