PARIS, Nov. 9, 2021 /PRNewswire/ -- According to thierry
Ehrmann, Artmarket.com's CEO and founder of Artprice and Server
group, "Since 1987 our group has developed an unparalleled
legitimacy in knowledge of the art market but also in knowledge of
its cyber dimensions. Indeed, faithful to our primary raison
d'être, we have made a major contribution to the development of the
art market's digital sphere, notably by dematerializing and
elucidating this historically opaque market."
Artprice by Artmarket's Metaverse will be an immersive
destination for collectors and digital art enthusiasts based on a
rigorous selection of NFTs and offering the necessary experience
and guarantees for this type of ecosystem, where Artprice and its
reference shareholder, Groupe Serveur, have been clairvoyant
pioneers of the internet since 1987. Few groups have been cited in
Time Magazine as such.
For almost a year now Artprice by Artmarket has been the subject
of numerous spontaneous offers for partnerships, mergers,
acquisitions (partial or complete) in the light of the emerging and
considerable market for Non-Fungible Tokens. NFTs (as they are
known) are collectible digital products stored on a blockchain.
Naturally, the NFT merchants are seeking additional credibility
and a value-creation logic specific to the online art market. And,
of course, they want to find artists already identified by their
market performance as well as credible and financially solid buyers
and sellers.
In short, these players would benefit enormously from the
backing and support of Artprice as a World Leader in Art Market
Information with its 5.4 million members and its Marketplace
created in 2005 offering more than 72,000 works online in real time
and its database covering 765,000 artists. For the fierce
competitors in the NFT market, Artprice by Artmarket represents the
ideal guarantor of global success.
In order to meet the urgent and vital needs of NFT competitors
and other art market players wishing to participate in the digital
art market, Artprice by Artmarket is preparing – as announced in
its latest financial press releases – its own NFT platform
integrating all of the processes and industrial services. Its
domain names are already registered as artprice-nft.com and
artmarket-nft.com
In the future, Artprice's Standardized Marketplace could
generate an income in the tens of millions of euros justifying a
capitalization in line with those of recently listed blockchain
players like Crypto Blockchain Industry (CBI). This income is
based, among other things, on the various recurring payables (in
physical currencies) that are inherent to the industrial processes
underlying the Blockchain/NFT economy.
As we have all seen, there has been a veritable flood of media
attention on the NFT phenomenon and all of the art market's major
players have rushed to incorporate NFTs, at any cost, into their
economic model, including Christie's and Sotheby's, the latter
having announced the creation of its NFT platform, Sotheby's
Metaverse, on 14 October 2021.
With the support of its various specialized departments,
Artprice by Artmarket has conducted in-depth studies and analyses
into the NFT phenomenon and is consequently acutely aware that the
field is substantially more complex than it appears.
In the first place, you need Blockchain know-how, an area that
Artprice has been working on for several years and which has earned
it 'Innovative Company' label twice, awarded by France's Public Investment Bank (BPI).
In terms of infrastructure, any potential player in this field
would need clean rooms and its entire Operating System in
proprietary mode. Then they would need to have excellent knowledge
of the history and management of crypto-currencies and of the
Wallet system to avoid traps. Lastly, they would need expertise in
art history specialised in the origins of the Internet and
cyberculture, in order to identify what constitutes digital fine
art. These different types of knowledge require skills that are
both vertical and transversal.
In its various projections and models, Artprice by Artmarket has
examined the veritable profit centers within the entire NFT process
/ knowledge chain. It has notably focused on the functional and
economic reality of operating a platform with primary NFT
issuers, and the buy and sell side of NFTs on the secondary market.
Great efforts were made to identify and distinguish between the
various recurring revenue items and those which are subject to the
vagaries of the market, and it has also been revealed that from an
accounting stance, the recurring and income generating activities
are primarily accessible in dollars or euros.
What transpires very clearly indeed is that the main players in
NFTs are above all major players in the crypto-currencies field. To
ignore this filiation would be a major error in the comprehension
of this ecosystem, which few people really master.
Artmarket.com has therefore carefully examined the main sales
that have contributed to the notoriety of NFTs and it finds the
same players in both cryptocurrencies and NFTs, with the latter
representing a way out of cryptocurrency via a non-fungible asset.
This analysis is essential because it highlights the strengths and
weaknesses of the early players in the crypto universe.
The sale of the first digital work at Christie's had the effect
of an earthquake by propelling BEEPLE (alias Mike Winkelmann) – unknown to anyone outside the
digital art sphere – to third place on the auction results podium
for living artists, behind Jeff
Koons and David Hockney.
After the record-breaking sale of Everydays: The first 5000 Days, a
digital file in JPEG format that fetched the staggering price of
$69.3 million on 11 March 2021, digital art must be considered a
creative current of tremendous value.
The purpose of this $69.3 million
purchase of Everydays: The first 5000 Days by two Indian
businessmen was therefore to claim a certain 'equivalence' between
all countries in the world and to show that buying art is not a
field reserved to Western collectors. This parity is 'enabled' by
the emergence of cryptocurrencies, a logical posture for these two
men who made their fortunes with the purchase of Ethereum, one of
the hundreds of cryptocurrencies in circulation around the
world.
Another branch of Artprice's research into the NFT market has
focused on the legal dimension, and it has concluded that the field
raises a large number of legal questions which only a few rare
players (like Artprice) are equipped to answer.
One example concerns intellectual property law: everyone agrees
that the various transactions involving an NFT artwork clearly
record the deeds of ownership; but what about the copyright,
patrimonial rights, moral rights, reproduction rights, etc.
relating to the primary issue of an NFT. Artprice, through its
expertise and experience in this field can respond to this void by
creating the necessary bridge between the NFT and the Physical Art
Market.
At the ADAGP (French society for the collection and distribution
of copyright in the field of graphic and plastic arts), where
Artprice by Artmarket is one of the main contributors, NFTs have
been the subject of substantial level-headed scrutiny. According to
its legal director Thierry Maillard,
"It is important to legally secure the link between the NFT and the
artist and his/her beneficiaries, to structure the practices and to
provide for trusted third parties". These observations all lead
very clearly towards Artprice because Artprice already has the
requisite expertise, infrastructure and know-how to handle these
delicate issues.
Likewise, according to Blanche Sousi, Emeritus Professor at the
University of Lyon 3, Holder of
the Jean Monnet Chair in European Banking and Monetary Law,
Honorary Director of the Institute of Law and Business Economics
and member of the Scientific Committee of the Institut Art et Droit
of which Artprice is a member, the issuance of a primary NFT must
comply with the provisions of the Monetary and Financial Code
(digital assets in French law or Crypto assets in European law)
.
Lastly, concerning the birth of a new art movement, we endorse
the analysis of art historian Michael
Maizels who has said: 'I am an art historian who has carried
out extensive research on the evolution of the market for 'recent
art'. And I can tell you that something generational is now
happening with NFTs.'
At this stage in the game, a solid knowledge is required of
cyber-culture and its interaction with the art market for almost
forty years, all this, in order to be able to define the emergence
of new Contemporary artists whose NFT works appeal to new
collectors.
Notwithstanding the media hype surrounding NFTs, it is important
to identify the different areas of knowledge (which can only be
acquired over time) necessary for an effective and profitable
activity in this area. After which, an NFT Marketplace can be
founded and capture the recurring and highly profitable revenues
that this market will generate in physical currency (i.e. Euros /
Dollars) in order to hedge against a crypto-exchange risk and a tax
system that is clearly 'a work in progress'.
So, on the demand side, Artprice's global clientele will be
ready to take the plunge as soon as they feel secure about their
transactions, and on the supply side, Artprice is confident that it
can attract artists for the creation of their NFTs on the primary
issue market.
On the broader art market, it is now clear that all the major
operators feel an imperative need to base their credibility on
macro and microeconomic data with a sharp analysis of the market.
This type of credibility is precisely what Artprice by Artmarket
can bring to them in its role as a Global Leader in Art Market
Information for nearly 25 years - via reports, indices, graphs and
data (used by more than 7,200 print and digital media).
Confidence in NFTs can only come from a player that has been
monitoring and mastering the art market's economy with its
exponential development since 2000 (turnover up 2,700% in the
Contemporary art field).
Artprice by Artmarket considers that digital art undoubtedly
represents a paradigm shift. However it also considers that only a
few rare players will be able to offer an integrated and coherent
industrial chain of processes and services with the right legal
environments, the right economic and financial analysis, and, of
course, the right kind of customer pedagogy which is absolutely
essential to creating confidence in this Metaverse (future version
of the Internet initiated by the vision of Neal Stephenson in 1992 in his post-apocalyptic
cyberpunk universe of 'Snow crash').
Artprice by Artmarket can elucidate the real protagonists of
cyber culture who were immersed in the digital world long before
anyone else. Artprice and Groupe Serveur, its major shareholder,
envisaged the birth of this new world in 1987.
Artprice by Artmarket's head office is the world-renowned Organe
Museum of Contemporary Art that manages the Demeure du Chaos /
Abode of Chaos (dixit the NYT) which is cited in art history
literature as one of the most important references of the
post-apocalyptic cyberpunk universe (subject of over 3,600 media
reports in 21 years). The Museum of Contemporary Art, Demeure du
Chaos / Abode of Chaos plans to issue thousands of NFTs by its sole
author, thierry Ehrmann, an artist/sculptor and Founder of Artprice
and Server group (link to biography in Who's Who France).
Biographie_nov2020_WhosWho_thierryEhrmann.pdf
The paradigm shift that the arrival of NFTs represents suggests
it will take several decades to define which bodies / authorities /
institutions / experts will emerge as being authoritative with
respect to digital art creations and the definition of the
cognitive value of digital artworks. Artprice by Artmarket is among
the few rare players who stand positioned to engage in such a
commitment.
Artprice by Artmarket will select its artists and NFT works from
its Marketplace to convey its vision of digital art.
According to research conducted by Artprice by Artmarket, the
most popular NFT platforms for artists are OpenSea, SuperRare,
Nifty Gateway, Rarible, Known Origin, Hic et Nunc (the least
energy-consuming).
Also read Contemporary art auctions boosted by NFTs (Artprice
report) (AFP) 2021
Online sales are now an integral part of auction house
strategies. Christie's, Sotheby's and Phillips have dematerialized
just over half of their operations. But it's not just the majors
ones; the online proportion for the world's auction houses taken as
a whole is currently 41% for 2021. A new step has clearly been
taken with the thunderous arrival of NFTs.
According to Artprice's Contemporary Art Market Annual Report
published last Monday, Contemporary art auctions reached a historic
turnover level of $2.7 billion in the
2020-2021 period (end-June to beginning-July), boosted by NFTs and
online auctions.
For Artmarket.com, all options are on the table, including the
other hypothesis: an immediate partnership with a major NFT
platform. This would generate huge saving in time and the economies
of scale would therefore produce an immediate financial gain with a
rapid boost in net income that would be added to a distinctly
profitable balance sheet, and would therefore will be a significant
growth driver.
The Artprice by Artmarket® NFT marketplace benefits notably from
the domain names 'Artmarket.com, Artmarket.net, Artmarket.org'
which naturally capture searches using the terms Art Market (
English being the language of the Art Market). With a simple search
'art market', the top 12 unsponsored natural results out of 3.33
billion results on Google.com lead to Artprice by Artmarket's
databases.
Finally, it is essential to remember that with Artprice and
Cision (PR Newswire), Artprice by Artmarket's Marketplace will
benefit from the first press agency dedicated to Art Market
information: Artpress agency® is a press agency created in 1999 and
100% owned by Artprice, the World Leader in Art Market
Information.
For 120 years Cision has gradually built a global network for
the dissemination of information / news recognized by more than
100,000 well-known clients on financial markets.
Cision is the world leader in PR & Influence software and
media research.
With its database of 1.6 million journalists and media
organisations, Cision delivers qualitative information concerning
the daily information generated by Artprice by Artmarket to a
target population 450 million through its press agency Artpress
Agency in the native language of each country on all five
continents.
The agreement is the direct result of a long relationship
spanning two decades between Artprice and Cision, two powerful
leaders in their respective markets.
Copyright 1987-2021 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
- Try our services (free demo):
https://www.artprice.com/demo
- Subscribe to our services:
https://www.artprice.com/subscription
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/11/2021/06/Biographie_nov2020_WhosWho_thierryEhrmann.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 in databanks containing over 30 million
indices and auction results, covering more than 770,000
artists.
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 6300 Auction Houses and produces key Art
Market information for the main press and media agencies (7,200
publications). Its 5.4 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 been awarded the
State label "Innovative Company" by the Public Investment Bank
(BPI) (for the second time in November
2018 for a new period of 3 years) which is supporting the
company in its project to consolidate its position as a global
player in the market art.
Artprice's 2020/21 Contemporary Art Market Report by
Artmarket.com:
https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2021
Artprice by Artmarket's 2020 Global Art Market Report published
in March 2021:
https://www.artprice.com/artprice-reports/the-art-market-in-2020
Index of press releases posted by Artmarket with its Artprice
department:
serveur.serveur.com/press_release/pressreleaseen.htm
Follow all the Art Market news in real time with Artmarket and
its Artprice department on Facebook and Twitter:
www.facebook.com/artpricedotcom/ (over 5,4 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
L'Obs - The Museum of the Future:
https://youtu.be/29LXBPJrs-o
www.facebook.com/la.demeure.du.chaos.theabodeofchaos999
(4.4 million followers)
https://vimeo.com/124643720
Contact Artmarket.com and its Artprice department - Contact:
Thierry Ehrmann,
ir@artmarket.com
Photo -
https://mma.prnewswire.com/media/1683484/Artmarket_NFT_bill.jpg
Logo -
https://mma.prnewswire.com/media/1009603/Art_Market_logo.jpg