• What you need to know about KYC

    January 20th, 2023

    KYC, or “know your customer,” is a process of identifying and verifying the identity of customers. The process typically involves collecting and verifying personal information, such as name, address, date of birth, and government-issued identification. KYC is an important process for building trust in an online arts and entertainment community.

    KYC or know your customer with business verifying the identity of its clients concept at the partners-to-be through a magnifying glass vector illustrator

    On ACME LABS™, some of our wallet partners have already implemented KYC processes for certain activities, while others are determining how they will move forward. Although verification is only a one-time activity for each wallet, we think it’s vital that you know what is happening and why.

    The specific steps involved in a KYC process can vary depending on the wallet and the regulations with which they must comply, but generally, it includes the following steps:

    • Customer identification: The organization (Venly uses a 3rd party company called Veriff) collects personal information from the customer, such as name, address, date of birth, and government-issued identification.
    • Customer verification: The 3rd party verifies the customer’s information, usually by checking it against government-issued identification and other databases.
    • Risk assessment: The organization assesses the risk associated with the customer based on factors such as the customer’s geographic location, the type of product, or the customer’s transaction history.

    KYC is valuable for communities that allow peer-to-peer buying, selling, trading, and other online activities. Knowing that everyone participating in the community has allowed their identity to be verified helps build trust and confidence.

    • Trust: By verifying the identity of issuers and traders, you can rest assured that you are doing business with legitimate parties, thereby building confidence and improving the overall integrity of the community.
    • Authenticity: By having a robust KYC process in place, we ensure that you are dealing with the legitimate owners of art and collectibles, helping to reduce scams and increase the authenticity of all transactions.
    • Compliance: KYC is also an essential aspect of anti-money laundering and countering the financing of terrorism.

    In summary, by verifying customers’ identities, assessing their risk profiles, and having a robust process, KYC helps build trust, making this a fun and safe community!

  • Caring for Your Fine Art Print

    October 21st, 2022

    Congratulations! Now that you have bought a fine art print, you must care for it to maintain its value and beauty. Care and maintenance are essential for physical art investments. Here are some tips on how to take care of your fine art:

    1. Framing: When it comes to framing, choosing a frame that complements the artwork and provides adequate protection is vital. Avoid using acidic matting or backing materials, which can damage the artwork over time. Additionally, use UV-protective glass to prevent fading and discoloration caused by exposure to light.
    2. Cleaning: Cleaning fine art can be a delicate process. Avoid using water, chemicals, or abrasive materials, as these can damage the artwork. Instead, gently use a soft, dry cloth to wipe away dust and dirt. If the artwork is particularly dirty, consider hiring a professional conservator to clean it.
    3. Storage: Proper storage is essential to preserving the condition of fine art. Artwork should be stored in a cool, dry place, away from direct sunlight, humidity, and extreme temperatures. Avoid storing artwork in attics, basements, or garages, as these areas can be prone to fluctuations in temperature and humidity. Also, use acid-free storage materials, such as acid-free paper or foam board, to protect the artwork.

    By following these tips, you can help ensure that your fine art remains in excellent condition for years. Remember that fine art is a delicate and valuable investment, requiring proper care and attention to preserve its beauty and value.

  • Hello World!

    October 20th, 2022

    Welcome to Acme Labs!

 

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