Swiss Digital Asset Bank Sygnum Partnered with Artemundi to Issue Picasso NFT Painting for $6K per Share

The Swiss bank of digital asset management, Sygnum, announced that it has partnered with industry-leading art investment company Artemundi to sell the ownership stake in Pablo Picasso’s NFT painting at $6,000 per share.

According to a report by Reuters on Thursday, the painting sold this time entitled “Fillette au beret”, which was innovated in 1964. Last time, the art piece was sold by an auction house called Uppsala Auktionskammare for 21.4 million Swedish Kronor for approximately $2.48 million in 2016.

This time, this painting is tokenised through blockchain technology so that all kinds of buyers can participate in the process of owning the masterpiece. The subscription is expected to start at the end of July, with a total value of approximately 4 million Swiss francs ($3.68 million).

Artemundi company said that:

“This marks the first time the ownership rights in a Picasso, or any artwork, are being broadcast onto the public blockchain by a regulated bank.”

The transaction will be settled in Swiss francs (CHF) using Sygnum’s local Swiss Franc stable currency, DCHF, protected by Swiss law.

This is not the first time that the master’s outstanding paintings to be sold in NFT format. Crypto art being bought and sold as ERC-721 non-fungible tokens (NFT) has been making headlines based on the record-breaking sales being witnessed.

On September 21 of 2020,  a crypto art piece had marked the first time and had been bought for at least $100,000, following the unprecedented sale of “Matt Kane’s Right Place & Right Time” on Async. art. This served as a signal to show the untapped potential in this emerging market.

In addition, the world’s first digital asset bank Sygnum Bank founded in Swiss and Singapore heritage announced to be the first bank accepting Ethereum 2.0 as reported by Blockchain.News on July 7.

Customers of Sygnum Bank could pledge Ethereum through Sygnum’s banking platform and safely store the Ethereum in their personal accounts. At present, it generates up to a 7% yield every year.

Image source: Shutterstock

Source

Tagged : / / / / /

100K Minimum bid VR NFT Art Auction

Follow the drop on Twitch from https://www.twitch.tv/terravirtua

Starting soon 2PM BST lasting until 27th.

Auction lasts on Terra Virtua from today until the 27th during the AIBC Summit in Dubai.

The VR Glasses and the work will be available to see both at the conference as well as privately upon request.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!


Watch the sneak peak film here from VESA’s studio.

The BR8VE

It was first an artwork commissioned by an early anonymous crypto OG, who revealed that Satoshi Nakamoto is eight different experts in their fields. ‘The story of Bitcoin thus far’ took me five months to convert into an artwork, and a further six months with the 3D wizard Frank Spalteholz, as well as composer Mighty33 to transform it into an exclusive VR artwork.

Predict the price of BTC & AAB and win up to 5,000 USDT!


The piece has a 30-minute mini-documentary about it, explaining the substance. Watch here

The first out of 10 NFT is reserved for the mystery OG, who may be one of the eight people, and nine others will now be sold to the market with a Varjo headset. The Finnish company Varjo has the world’s most advanced VR headset, only available for industrial players like Apple, Lockheed Martin, Boeing, Volvo, etc. The headset is not commercially available and has an astonishing 8K resolution that people fly airplanes with and perform surgery in major hospitals – and you. The NFT comes with the headset, controllers, a powerful laptop, and a physically signed big print copy of the original version. It is set up for troubleshooting remotely to ensure a smooth transition.


You can see a 2D preview of the work here, as well as hear the glorious soundtrack by Mighty, which captures the danger, tension, and power of the Bitcoin island perfectly in its purgatory.


The 2D version


Wanna own astronaut grade VR goggles unavailable elsewhere on the market? The artwork comes with a beast of a laptop, The Varjo VR2pro headset, and a remote troubleshooting mechanism. Check out Varjo.com 

100K USD minimum bid

The bids for the 2/10 version will start from 100K USD, but as we know that people like exclusive things, for this very first version only, we will offer a ‘buy now’ option for 1M USD, which means no other versions will come to market. It will then be a 2/2.

Watch VESA address this in a tweet earlier this morning


Have a look at this interview with the co-founder Gary about why Terra Virtua is a big deal in the NFT space, and their art segment will soon be a force to be reckoned with here.

V E S A

Crypto & NFT Artist
All links to physical, NFTs, and more below

http://linktr.ee/ArtByVesa

Source

Tagged : / / / / / / / / / / /

Going to pieces: Fractionalized NFT projects gather steam

Non-fungible tokens and crypto art have taken the industry by storm in 2021 and a number of projects aim to fractionalize pieces of NFTs to give collectors’ partial ownership rights.

Projects that break apart, or fractionalize, non-fungible tokens are gaining interest following a number of groundbreaking sales that are beyond the reach of most investors.

With pieces such as Beeple’s “Everydays: The First 5000 Days” fetching a record-breaking $70 million, not everyone has pockets deep enough to bid on such extravagances. The buyer, known by the handle “MetaKovan”, purchased the piece for an NFT fund.

Owning just a portion of a piece of digital art is an approach becoming more appealing to collectors, after a concept called Fractional Non-Fungible Tokens (F-NFTs) was originally conceived in 2018 as a way to offer shared ownership.

A new decentralized project called Fractional will allow NFT owners to mint tokenized fractional ownership of their pieces facilitating the buying and selling of percentages of the full NFT. Additionally, fractionalizing allows for the NFT holder to realize some liquidity from their asset without selling the entire piece, according to a blog post detailing the project.

The platform will also enable users to fractionalize entire collections of NFTs and release them under one shared ownership token allowing those with less knowledge of the scene to invest in digital art complied by more renowned collectors.

The Fractional project works with NFT vaults, which takes custody of the full piece and allow the holder to break it apart as they see fit. They can then send the ERC-20 parts to friends, auction them off, or use them for liquidity provision.

When an interested party emerges, they can send ETH equal or greater to the reserve price of the asset initiating an auction. Upon completion, the auction winner will receive the NFT and token holders will be able to claim the ETH paid. The protocol did not specify a timeframe for project launch.

Another project called DAOfi has launched a decentralized exchange forked from Uniswap for the trading of fractionalized NFTs. It’s designed to solve the liquidity problem in secondary markets for NFTs whereby NFT owners have to wait for someone to bid or buy at an asking price for a single piece.

Breaking the non-fungible ERC-721 tokens into fungible ERC-20 tokens allows buyers to own a portion, much like owning a print of an artwork, the post explained.

The fungible tokens will be placed on a bonding curve on DAOfi so that the AMM will always be able to provide liquidity algorithmically for buyers and sellers at any time.

DAOfi launched its first crowd sale on Tuesday, March 16, for Marc Horowitz’s idxm_tile_001 piece which has sold 30% of the 22 tiles at the time of writing.

Source

Tagged : / / / / /

Beeple NFT Sells at Auction for $69.3M, The Biggest NFT Sale to Date

A non-fungible token (NFT) based on artwork has been auctioned for approximately $69.3 million on Thursday by an unidentified collector.

The auction which took place at Christie’s auction house is the biggest for a digital-based artwork and had about 33 bidders, one of whom is Tron’s Founder, Justin Sun.

The auctioned NFT was an artwork by Mike Winkelmann popular known as Beeple. The artwork, called “The First 5,000 Days” takes its origin back to 2007 when Beeple discovered digital art and he set out to create a piece per day, an exercise he has never missed a day on since then. The collection of the first 5000 pieces of creations was collated and turned into the NFT that now ranks as the biggest sale to date.

NFTs are pulling mind-blowing numbers in terms of selling prices today. Prior to this current record-breaking sale, the highest-auctioned NFT was Beeple’s own work which with the parting sum coming in at $6.6 million.

“As soon as I saw it, I saw it as this massive, massive potential for this as a platform for digital ownership of a bunch of different things, not just art,” Beeple said of the burgeoning NFT marketplace. “Moving forward, I think this will be seen as an alternate form of asset class.”

NFTs despite the hype they are generating in terms of their selling figures, have real-world use cases as they can help to register the ownership of any item on the blockchain. With NFTs, works of art cannot be counterfeited, creative contents will no longer be pirated as all ownership and authentication processes take place on a public blockchain that can be verified by anyone, anywhere.

With the pace NFT has set since the beginning of the year, this year may eventually turn out to be for NFTs, what 2020 was for decentralized finance.

Image source: Shutterstock

Source

Tagged : / / / /

How Crypto Art Offers Artists a New Model of Equity and Autonomy

Crypto art has seen explosive growth of late, with many content creators tapping into the space to get compensated for their creative work shared online. 

The Growing Demand for Digital Art

Essentially, pieces of crypto art are sold via non-fungible tokens (NFTs), which are distinctive digital tokens on a blockchain that can verify ownership of any collectible such as music, art or animation.

The rise of crypto art came from the need to make digital art, which is very easy to replicate, unique and verifiable on a public ledger. Transforming art into non-fungible digital tokens integrates more scarcity value into the piece while giving the artist creator greater autonomy and recognition. 

NFT art also ensures that the creator receives their fair share of the value, as there is no scope to cheat the artist out of their rightful royalties on a publicly viewable and traceable blockchain. 

These one-of-a-kind digital tokens have offered a new lifeline to digital artists and creators by introducing a convincingly identifiable carrier of value for digital artwork.

Furthermore, Immutable digital artwork introduces a new model of interdependence for content creators by enabling them to control the distribution and sale of their work. Artists can also embed conditions of their work and practice into their work’s expression. 

Therefore, NFTs have the potential to disrupt art marketplaces set by monopolizing big tech companies by giving the actual content creators control over their work and its distribution.

Heralding the Era of Fractional Ownership

Perhaps the biggest appeal of crypto art is the ability to facilitate content creators to program pre-determined ownership conditions into its very metadata. 

The new form of tokenized artwork enables the content creator to broker their own smart contracts that determine how the crypto art is displayed, shared, editioned. 

This feature promises to help artists carve out a new model of equity where they can sell out fractions of new and rare digital art to multiple art enthusiasts. 

According to Amy Whitaker, a longtime blockchain researcher who has studied the proposition for NFTs artwork in equity ownership, fractional ownership of crypto art is a powerful tool.

“What’s beautiful about equity is that you’re designating a fraction as opposed to a dollar amount. That fraction can move. So if you own 10% of an artwork, and you sold it for a hundred dollars or a million dollars, you’re going to own something proportionately,” Amy explained. 

Ramani Ramachandran, CEO of Router Protocol, sees NFT art as an investment where one buyer can resell their rare collectible for a profit. The original creator can also earn royalties on the resale as the unique artwork increases in value over time. 

The Buzzing Crypto Art Market

According to the latest estimate from Nonfungible.com, the NFTs market has grown 705% in three years to hit $338M in value by the end of 2020. 

Digital artists like Justin Roiland, co-creator of the popular Rick and Morty animated series, are flooding NFT marketplaces like OpenSea with their creations, and fetching huge profits from their work. 

As demand for digital collectibles continues to grow, the nascent digital art marketplace dynamics could explode in the coming months.


Like BTCMANAGER? Send us a tip!

Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4


Source

Tagged : / / / / / /

Today 11:40 am EST: First Bitcoin Elite NFT Art Drop

Tonite is a special drop, as it is the launch of The Bitcoin Elite NFT series, which starts with a new creation via a VESA piece titled The Foundation.


You can still join the session via https://www.thebitcoinelite.com/

Alternatively, follow the live feed of purchase and the auction of the 1/1 special at Nifty.show/YouTube



The piece is called “The Foundation”.

It’s a 20-second mixed media artwork, made to honor Satoshi Nakamoto and the invention of Bitcoin. You can see the 21 version from the link below.

[speaker-mute]

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

[/speaker-mute]

http://https://twitter.com/BitcoinNFTs/status/1362911199017402372

This is a promo video about the whole Bitcoin Elite concept

NFT idea:

The universe is born out of the “genesis egg” concept in the Finnish mythology of Kalevala. This work, called The Foundation, dropping as the first piece with the Bitcoin Elite launch tomorrow, explores the forever tension of creation, value, the inevitable ensuing corruption, and return to value. In our recently passed time of postmodernism, we tried to distort everything to be about language, in an attempt to manipulate universal law to suit our perception of it. Due to the invention of Bitcoin, we returned to the construction phase after deconstruction atomized us in the recent decades. A new era began for art then, too, which we might call Integralism.

The work stands with the origin innovation discovery of mathematics, that math always existed, and we just learned its language. In other words, math is not fiction, it’s a tool of discovery. In the same vein, Bitcoin repels corruption by being protected by a decentralized mathematic protocol, more powerful than a single point of idealistic failure.

As Bitcoin is likely to go down in history as one of the greatest inventions of humanity, the piece attempts to not only pay homage to Satoshi Nakamoto but the path now possible because of this genesis.

The work will drop as an edition of 21 and a special 1/1 version.

See you there,

V E S A

Crypto Artist
All links to physical, NFTs, and more below

http://linktr.ee/ArtByVesa

Source

Tagged : / / / / / / / / / / /

Crypto Art Sales are Soaring as Non-Fungible Token (NFT) Market Gains Traction

Crypto art being bought and sold as ERC-721 non-fungible tokens (NFT) has been making headlines based on the record-breaking sales being witnessed. This emerging market is gaining traction in spite of the uncertain economic times, according to data acquisition and analytics company DappRadar.

Crypto art pieces selling for more than $100,000

September 21st marked the first time a crypto art piece had been bought for at least $100,000, following the unprecedented sale of “Matt Kane’s Right Place & Right Time” on Async.art. This served as a signal to show the untapped potential in this emerging market.

Per the report:

“Now, under three months later a second piece has raised over $140,000. A programmable version of a scene depicting Vitalik Buterin of Ethereum dressed like a medieval harlequin leaning against a velvet chair made records this weekend when an NFT representation sold for 260 ETH or over $141,000 at the time of writing.”

The sale of the second piece serves as the icing on the cake in terms of the most paid crypto art in dollars.

The quest for a safe haven

The coronavirus (COVID-19) has triggered a global economic turmoil, and this has heightened investors’ pursuit for a safe store of value. This is one of the factors that is making the crypto art market to gain traction.

DappRadar acknowledged:

“The trend seems to be driven by a few major factors including Investors looking for a safe store of value and the space receiving heightened attention as platforms tried to integrate DeFi mechanics such as the use of NFTs as collateral, Insurance, and the delivery of governance tokens to loyal users.”

These crypto pieces seem to be giving investors value for money because they are unique artworks. For instance, Matt Kane’s ‘Right Place & Right Time’ piece is distinctive because it produces a new image daily.

Furthermore, it comprises 24 programmable layers synchronized with Bitcoin’s price volatility in the past 24 hours. The second piece is also exceptional because it utilizes a programmable technology called layering in remaking itself each day. Recently, the top 10 decentralized applications (Dapps) on the Ethereum Network surpassed 1 million daily users, and among them was Rarible, an NFT marketplace.

Image source: Shutterstock

Source

Tagged : / / / / / / /
Bitcoin (BTC) $ 27,107.26 0.35%
Ethereum (ETH) $ 1,675.74 0.13%
Litecoin (LTC) $ 66.45 0.02%
Bitcoin Cash (BCH) $ 235.38 0.15%