We've just heard about about a great new concept that was announced at the TED Conference in Palm Springs. Fame Theory (the guys behind FameGame) SquareSpace, and BBH New York have just announced the launch of Trust Art, which is nothing less than a "new project to reinvent the model of the contemporary art world." The project is beginning with 10 emerging artists who've all created fantastic blueprints for projects that can be realized within one year or less. Investors will take "shares" in a Trust Art project, and at the end of the year, each art piece is auctioned, and investors split the proceeds with the artist.
This seems like it might be a fun way to open up the experience of being an "patron of the arts," while harnessing the power and ease of social networking to promote these projects - it's assumed the multiple investors will "spread the word" to all their friends. Fame Game will contribute its data powers to the Trust Art site, and will be tracking the social and financial capital of each project throughout the year.
For the the first 100 or so early adopters who invest $1000 or more, they will also be presenting a limited edition stock certificate print drafted by Trevor Wentworth, an artist residing in Brooklyn.
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