PARIS, Nov. 20,
2023 /PRNewswire/ -- According to thierry
Ehrmann, Founder of Artprice and CEO of Artmarket: "After a
period of very cautious observation,
cryptocurrencies are now showing positive signals.
Artprice by Artmarket now considers the circumstances
favorable to integrate – as of today – the
cryptocurrencies Bitcoin and
Ethereum across the entirety of its famous
Standardized Marketplace®, created in 2005. These
cryptocurrencies are now competing with major
international currencies and it is only natural
that Artprice should also add Art NFTs to its
Marketplace, in a new category/medium, giving them a
legitimate place in Art Market History."
Our decision to quote cryptocurrency
prices on our Standardized Marketplace® comes after a long and
careful observation of an increase in consultation of auction
results in Bitcoin and Ethereum
across all of Artprice's databases since their effective
integration into our system in September 2022.
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These two main cryptocurrencies (ETH
and BTC) account for more than 82% of the total value of the
approximately 21,000 currently existing
cryptocurrencies (excluding stablecoins).
By analyzing its hundreds of millions of connection logs,
Artprice has observed – over 14 months – a regular increase in
consultations of the Bitcoin and Ethereum
prices in its databanks, which are now, in statistical terms, close
to the consultations of the major international reference
currencies such as the dollar, the euro, sterling or the yen.
This evolution at Artprice reflects the growing place of
cryptocurrencies in the mentalities and habits of art
professionals as well as among collectors and art enthusiasts.
In view of these positive and indisputable statistics
over 14 months, Artprice by Artmarket has made the
historic decision to integrate Bitcoin and
Ethereum today into its Standardized Marketplace®
which presents more than 75,000 works of art from around the world
on a daily basis. These works are bought and sold by
Artprice's 7.2 million customers and members, generating an annual
turnover estimated at several hundred million euros. The
success of this platform reflects
the confidence, built over more than 18 years, between
its buyers and sellers.
The inclusion of Art NFTs in Artprice by Artmarket's
Standardized Marketplace®, along with their quotation in
Bitcoin and Ethereum (next to the major
international currencies), will undoubtedly make a significant
contribution to the overall legitimization of this new medium
on the art market.
Artprice by Artmarket's Standardized Marketplace® will
immediately have an undeniable competitive advantage because the
main existing NFT platforms have still not resolved a number
of fundamental issues due to lack of time, of financial means, but
also, and above all, due to their incapacity to manage and
administrate all the related copyright issues.
Indeed, OpenSea, the leading NFT platform, itself declares that
80% of the primary issues of Art NFTs are likely to
impact third-party intellectual property rights. Faced with
this observation, Opensea has announced it is considering solutions
to counter this problem and thereby protect sellers and
buyers. This can only lead to the certification of the primary
issue market by Artprice.
It is precisely in the primary issue of Art NFTs that Artprice
by Artmarket can generate excellent turnover (and
profits) already up 75% in Q3 2023.
Bearing in mind all the underlying parameters and data required,
Artprice is the only organization on the global art market to
be able to truly respond to the certification of primary emissions
of Art NFTs in an environment of cryptocurrencies
and major international currencies.
This capacity to certify the primary emissions of Art NFTs is
based on the fact that Artprice by Artmarket has been the
Global Leader in Art Market Information for more than 25 years
and is the creator and owner of its globally recognized
databases. It also has the world's largest documentary collection
of art market notes, manuscripts, codices, and annotated sales
catalogs from 1700 to the present day which act as guarantee of the
authenticity and historical veracity of its databases.
Artprice by Artmarket's position as Global Leader in Art
Market Information – with its Standardized Marketplace®
created in 2005 – provides a perfectly logical and absolutely
essential guarantee recognized throughout the art market. This
is because for the last 25 years, we have been practicing exactly
what is needed for the online sale of art NFTs, namely the initial
certification of the artist followed by the meticulous analysis of
his/her biography and of all the original supporting documents
concerning the artist, which subsequently remain in Artprice's
archives. It is this practice that inspires the market's confidence
and recognition.
More precisely, we cannot allow the offer of an artwork or of an
art NFT to be posted online without validation of the identity of
the artist (especially in crypto art), and of the
professional seller, via a very strict and draconian control
procedure. In the context of the sale of NFTs, this is all the more
important as there is a certain laxity at this level, which has led
to numerous problems on other sites.
The added value of Artprice by Artmarket is quite
simply its knowledge of the artists, either through
their previous auction results or through their emerging
notoriety. In addition, an Artprice Intranet messaging system is
made available to buyers and sellers, so that they can agree on
their transaction in a confidential and consensual manner.
The September 2022
quotation of auction results
in cryptocurrencies was the first stone in the
edifice, and it was introduced after considerable reflection and
research. Artprice by Artmarket had already taken a first step
by quoting 8,828,384 art auction results
in Bitcoin, dating back to 1 February 2011
(with 1 Bitcoin at $0.7, £0.434031, and €0.50707)
and 5,814,866 art auction results in Ethereum,
dating back to 7 August 2015 (with 1
Ethereum at $3, £1.93626 and €2.735523).
The addition of the two reference cryptocurrencies
to the historical currencies of the 20th century (dollar,
euro, Sterling, yen) in Artprice's databases gave our clients the
necessary perspective to understand the development of
cryptocurrencies over more than a decade
vis-à-vis the world's major
non-cryptocurrencies.
Cryptocurrencies have brought new collectors
and art enthusiasts, often younger than their
non-crypto peers. Not averse to speculation and
risk, they have no intention of abandoning the
crypto-universe of Web 3.0. These new customers, who
frequently requested data from Artprice by Artmarket, constantly
requested the addition of ETH and BTC to all Artprice
databases and to its Standardized Marketplace®.
For this reason, Artprice is currently finalizing the Metaverse
of its head office located in the heart of its illustrious
L'Organe, Museum of Contemporary Art which manages the
Demeure du Chaos / Abode of Chaos (dixit The New York Times). To create the Metaverse of this
edifice with its highly singular architecture (that falls into the
category "total work of art") created by thierry Ehrmann (who
is also a visual artist), the European group TT Géoomètres Experts
with its 3D Lab and Groupe Serveur (Artprice's parent company)
carried out the complete digitization of the 6,300 artworks
integrated into the buildings, offices, outbuildings and
surrounding walls, covering a surface area of over 7,555 m²,
leading to the creation of a digital asset of 12
terra-bytes. This work was conducted from 2018 to 2023. For more
information see:
https://ftp1.serveur.com/abodeofchaos_singular_architecture.pdf
All the necessary investments have already been fully covered by
Groupe Serveur.
The future of Artprice by Artmarket is the meeting point
between Web 3.0. and Artprice's proprietary artificial
intelligence, Intuitive Artmarket ® AI.
The Artprice Metaverse, accessible in AR (augmented reality)
and/or VR (virtual reality), currently being finalized, has
been designed to make people forget rigid IT with Web 2.0, a
veritable obstacle to creation. It will allow
crypto-universe enthusiasts to live their experiences
to the full, in particular through the release announced at WWDC
2023 of Apple's Vision Pro, the perfect symbiosis of AR and VR, to
which is added among others the Meta Quest 3, the HoloLens 2 from
Microsoft, the VR DELL VRP100, the VRX from Lenovo, the Gear VR
R322 from Samsung, the Reverb G2 from HP, all this to join Web
3.0.
During the period of cautious observation of
cryptocurrencies conducted by Artprice by
Artmarket, lots of more or less unpredictable events have
destabilized the global economy and
particularly, cryptocurrencies.
After reaching historic highs on 10
November 2021 (at $68,989 for
Bitcoin and $4,866 for
Ethereum), cryptocurrencies then began a
steady decline to reach lows at $15,480 on 21 November
2022 for Bitcoin and $880 for Ethereum on 18 June 2022.
The year 2022 and a large part of 2023 were therefore the final
test for cryptocurrencies, with a dizzying descent, a
drastic purge of outsiders, a series of memorable trials
(fraudulent bankruptcy of Sam
Bankman-Fried's FTX), the introduction of drastic
regulations, all against the backdrop of a very difficult
economic, financial and geopolitical context, with galloping
inflation, stagnation in world trade and a meteoric rise in
interest rates.
However, this 'trial by fire' has ultimately made it
possible to establish cryptocurrencies in the
international monetary system and in its history, and the
world of finance is well aware of the resilience of leading
cryptocurrencies to crises. Morgan Stanley and JP
Morgan Chase are now both offering Bitcoin funds to
their clients.
Moreover, despite the economic context described above, nothing
has stopped a number of planned developments such as the
transition to "The Merge" on 15 September
2022 for the complete 'decarbonization' of the
Ethereum 2.0 Blockchain in the context of the
global energy crisis. Indeed, according to its founder,
Vitalik Buterin, thanks to "The
Merge", after 7 years of development and successful beta tests, the
electricity consumption of the ETH Blockchain has been
reduced by over 99.95% by switching from "Proof of Work" (PoW) to
"Proof of Stake" (PoS) (Source Ethereum
Foundation).
In a global context where concerns about global warming
have reached a fever pitch, this is indeed a vital development, and
it explains, among other things, the Central Bank of Norway's decision to build the Norwegian MNBC
(Central Bank Digital Currency) on Ethereum
and that of Bank of America to qualify Ethereum
as a virtuous investment, calling it a "green giant".
However, it is BlackRock's announcement, the world's
biggest asset manager, which seems to definitively signal the
re-awakening of cryptocurrencies and the end of
the bear market. After submitting a first
Bitcoin spot ETF (Exchange Traded Fund) file with the
SEC (Securities and Exchange Commission), BlackRock filed a second
one on Thursday, 9 November 2023 for
an Ethereum spot ETF called iShares
Ethereum Trust. This will allow retail investors to
gain exposure to the second-largest cryptocurrency by
market capitalization without having to directly hold the
asset.
Price projections are also currently very positive. The consensus
of analysts from major American banks is very favorable to
cryptocurrencies, in particular Bitcoin
and Ethereum, with targets at significantly higher
than current prices.
thierry Ehrmann: "We were patiently waiting for the right
moment to launch this key deployment in the
history of Artprice by Artmarket in the best conditions
for both the art market and for cryptocurrencies. It
is now time for us to take the step of deploying our authoritative
Standardized Marketplace® and opening it to the world of
cryptocurrencies and NFTs, by entering Web 3.0. which
is quite simply the immediate future of the Internet. This
step would not have been possible without the knowledge and
experience of Artprice, which has been the Global Leader in
Art Market Information for more than 25 years.
Images:
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Copyright 1987-2023 thierry
Ehrmann www.artprice.com - www.artmarket.com
- Don't hesitate to contact our Econometrics Department
for your requirements regarding statistics and
personalized studies: econometrics@artprice.com
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https://www.artprice.com/demo
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About Artmarket:
Artmarket.com is listed on Eurolist by Euronext Paris,
SRD long only and Euroclear: 7478 - Bloomberg: PRC - Reuters:
ARTF.
Discover Artmarket and its Artprice department on video:
www.artprice.com/video
Artmarket and its Artprice department was founded in 1997 by its
CEO, thierry Ehrmann. Artmarket and its Artprice department is
controlled by Groupe Serveur, created in 1987.
See certified biography in Who's who ©:
https://imgpublic.artprice.com/img/wp/sites/11/2023/04/2023_2_Biographie-thierry-Ehrmann_WhosWhoInFrance.pdf
Artmarket is a global player in the Art Market with, among other
structures, its Artprice department, world leader in the
accumulation, management and exploitation of historical and current
art market information (the original documentary archives, codex
manuscripts, annotated books and auction catalogs acquired over the
years ) in databanks containing over 30 million indices and auction
results, covering more than 825,000 artists.
Artprice by Artmarket, the world leader in information on the
art market, has set itself the ambition through its Global
Standardized Marketplace to be the world's leading Fine Art NFT
platform.
Artprice Images® allows unlimited access to the largest Art
Market image bank in the world: no less than 180 million digital
images of photographs or engraved reproductions of artworks from
1700 to the present day, commented by our art historians.
Artmarket with its Artprice department accumulates data on a
permanent basis from 7200 Auction Houses and produces key Art
Market information for the main press and media agencies (7,200
publications). Its 7.2 million ('members log in'+social media)
users have access to ads posted by other members, a network that
today represents the leading Global Standardized Marketplace® to
buy and sell artworks at a fixed or bid price (auctions regulated
by paragraphs 2 and 3 of Article L 321.3 of France's Commercial Code).
Artmarket, with its Artprice department, has twice been awarded
the State label "Innovative Company" by the Public Investment Bank
(BPI), which has supported the company in its project to
consolidate its position as a global player in the art market.
Artprice by Artmarket publishes its 2023 Contemporary Art Market
Report:
https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2023
Artprice by Artmarket's Global Art Market Report, "The Art
Market in 2022", published in March
2023:
https://www.artprice.com/artprice-reports/the-art-market-in-2022
Index of press releases posted by Artmarket with its Artprice
department:
https://serveur.serveur.com/artmarket/press-release/en/
Follow all the Art Market news in real time with Artmarket and
its Artprice department on Facebook and Twitter:
www.facebook.com/artpricedotcom/ (over 6.4 million
followers)
twitter.com/artmarketdotcom
twitter.com/artpricedotcom
Discover the alchemy and universe of Artmarket and its artprice
department https://www.artprice.com/video headquartered at the
famous Organe Contemporary Art Museum "The Abode of Chaos" (dixit
The New York Times):
https://issuu.com/demeureduchaos/docs/demeureduchaos-abodeofchaos-opus-ix-1999-2013
La Demeure du Chaos / Abode of Chaos
GESAMTKUNSTWERK & SINGULAR ACRHITECTURE
Confidential bilingual work now public:
https://ftp1.serveur.com/abodeofchaos_singular_architecture.pdf
· L'Obs - The Museum of the Future:
https://youtu.be/29LXBPJrs-o
·
www.facebook.com/la.demeure.du.chaos.theabodeofchaos999 (over
4 million followers)
· https://vimeo.com/124643720
Contact Artmarket.com and its Artprice department - Contact:
Thierry Ehrmann,
ir@artmarket.com
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