By creating a secure global database, Vastari is connecting art collectors and public institutions around the world, enabling previously unseen works of art to be sourced and loaned to exhibitions. The communications platform works in two ways. For institutions like galleries and museums, it brings access to privately-owned objects and aids in finding partners and sponsors. For collectors, it offers exposure to top museum professionals worldwide, potentially increases the cultural significance of their collection and allows their works to get researched by experts. Vastari also allows for collection sharing between institutions and provides a global market for touring exhibitions. Importantly, the platform relies on anonymity, so collectors can upload their pieces without giving away their identity, while institutions can anonymously search for the perfect piece for an upcoming exhibition without giving away its theme. Communication can also be done anonymously and securely through the platform. Once a successful connection is made on Vastari, the institution then arranges for shipping and logistics to ensure the work arrives safely.
How they’re disrupting
New technology has dramatically disrupted how the art industry operates, both for institutions and buyers. Old roles are increasingly blurred, with tech experts now assuming roles as curators and auctioneers, and gallery assistants venturing into the world of coding. Vastari is also shifting the art world away from its traditional stomping ground of Europe and the US. Instead, it is bringing art from across South Africa, China, Australia and China into the fold.
In 2015, the global art market achieved total sales of $63.8 billion. It’s thought that with Vastari, the market could potentially increase as more “unknown” artists get their chance to exhibit their work – unlocking the economic potential of thousands of artists worldwide.
Investments and future
Vastari received $876,000 in seed funding from Microsoft Accelerator and a list of angel investors, including Richard Burston, Alexandre Massart, Peter Nahun and Tim Jackson. Vastari is focused on revealing new talent to the lucrative art world from territories less known for their art industry.