Company: Masterworks

We have heard that MasterWorks is a leading company in this field and wanted to benchmark to understand its business model, how the business got started & expanded (initial cost and revenue stream) Research Questions: 1. [Artwork] What type of artwork (i.e. prominent artwork of deceased artist, pop artists, NFT, etc.) do they source to trade on their platform, and who are their key sourcing resource (i.e. partnership with auction or gallery, individual collectors, have their own sourcing personnel, etc.)? 2. [Target investor] Who are their primary/target customer/investor to trade on their platform? 3. [Key Value proposition] What do they offer to customers/investors and artwork providers that draw them to use MasterWork platform? What differentiate them from their competitors? 4. [KSF] What is their KSF in terms of expanding/successfully operating their business? (i.e. founder has strong existing relationship with global auctions such as Sotheby's that allowed them to source quality/sought-out artworks from the start of the business, first to market, etc.) 5. [Blockchain] How have they utilized blockchain technology in tokenizing artwork? Type of blockchain used, have their own e-wallet, etc. 6. [Capital] How much have they raised for their business and what is their current valuation? 7. [Cost] When did they achieve BEP (if they have) and how long did it take from start of the business? 8. [Revenue] Where do they make money by running the business? (i.e. trading fee)