The NEW art buying engine?

It looks like Art.sy is poised to take the art world by storm. As the tagline suggests one can discover fine art, powered by the art genome project.
The site promises to launch in the spring of 2011, which is shortly about to pass by.
Taken from the website:
"Art.sy is led by Carter Cleveland, a Computer Science Engineer from Princeton University with a passion for fine art, and Sebastian Cwilich, a former executive at Christie’s Auction House and Haunch of Venison Gallery. Sebastian is also Founder and Chairman of ProyectArte, an international nonprofit art school for young emerging artists.

Art.sy’s investors and advisors include global leaders in the arts, media and technology. Investors include Dasha Zhukova, Founder of Moscow’s Garage Center for Contemporary Culture; Wendi Murdoch, Film Producer; Eric Schmidt, CEO of Google; and Jack Dorsey, Creator of Twitter. Advisors include Larry Gagosian, Owner of Gagosian Galleries; Barrett White, Director of Haunch of Venison Gallery; and Joe Kennedy, CEO of Pandora. "

With such powerful "and loaded" backers and investers the project shows some promise. The outstanding questions remaining in the back of my mind.
Is it just going to be a popularity contest? If an artist gets enough "facebook likes" do they show up?
What is it going to take for an artist to get listed?
Will this be just another place for every person with a pencil to post pics (I.E. Deviant art)?
How does an artist prove their worth the be a part of the "genome"?
Is this just going to be another -elitist art listing? A place where emerging artists stand no chance unless they have slept with or are owed a favor by some well known?
Snobbery galleries already do this, and isn't really of any use to hard working artists or collectors.

There are many questions lingering around, the only answer I seem to find is "wait and see"

Art.sy seems to be gallery owner driven. Art.sy listing the art and connection for people to buy the art from galleries. Art.sy then wants to collect a commission from the gallery selling the art.

This raises the thought in my mind.... how many commissions can be had off of one artists work? This sort of thing kills me. Galleries want 20% (ish) already, now Art.sy wants another 10%. The artist has to make the art, host the opening, get the attention, sit in the gallery all month being a retail agent, and now... lets grab 30% -50% of what they generate.

This leaves the person creating the product being scraped off the bottom of the shoe like so much dog shite on the walk.

This project can be a great tool for artists and buyers, or it can be one more way to further the rape the creative minds and the works they create. Connecting galleries to buyer is perhaps one way of weeding out less experienced artists. Sadly, many new buyers and collectors may not realize that great art can be bought without a gallery.

We are just left waiting.

http://art.sy/

-Lloyd M