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Artmarket.com: higher Q4 2023 revenue and the connection of its inductive learning proprietary AI tool (Intuitive Artmarket ®) to its databases and its Standardized Marketplace for the certification of primary issues of NFTs

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artmarket.com:-higher-q4-2023-revenue-and-the-connection-of-its-inductive-learning-proprietary-ai-tool-(intuitive-artmarket-)-to-its-databases-and-its-standardized-marketplace-for-the-certification-of-primary-issues-of-nfts

Upcoming news concerning Artprice by Artmarket.com in 2024

PARIS, Feb. 13, 2024 /PRNewswire/ — Artificial Intelligence with Gemini Pro, Chat GPT-5, Art NFTs as seen by Arte TV, Bitcoin ($50 K) and Ethereum, all growing rapidly and all welcome on Artprice.

 

"Ghost Ship" © NFT sculpture and algorithm by thierry Ehrmann - Courtesy of Organe Museum / Abode of Chaos / La Demeure du Chaos

 

Artprice is about to introduce its own Intuitive Artmarket ® AI to the Art Market.

Over recent decades, Artprice by Artmarket.com – with its long experience as a pioneer of the Internet since 1987 under its parent company Groupe Serveur – has developed thousands of increasingly powerful and useful proprietary algorithms that have become the foundation of our own artificial intelligence, in strict compliance with all of the various legislative frameworks, notably those regarding personal data protection and intellectual property rights.

The three cornerstones of AI are data, computing power and algorithms. The greater the volume and the higher the quality of the data (standardized big data), the more ‘intelligent’ the models they are used to train become. This process corresponds exactly to the core DNA of Artprice by Artmarket’s operating model which masters both the computer science of programming and the computer science of induction which defines AI.

Our progress in the field of AI was substantially accelerated by our targeted acquisition (initially by Groupe Serveur, then by Artprice) of innovative companies like Xylologic (in 1999) a Swiss company of prestigious scientists (from CERN, WHO, etc.) that was considerably ahead of its time and which already prefigured the birth and development of AI (see our reference document).

A rare occurrence for a company listed on a regulated market, Artprice by Artmarket has twice consecutively obtained the state label “Innovative Company”, subject to strict eligibility conditions, awarded by France’s Public Investment Bank (BPI).

According to thierry Ehrmann, founder of Artprice and CEO of Artmarket.com: “With its proprietary AI – baptized “Intuitive Artmarket ®” – in 2024 Artprice by Artmarket will be able to take each of its 7.2 million customers and members on superb customized journeys of art discovery with lightning speed

In the cozy world of major global professional database publishers, it is vital for the long-term development of our industry that we integrate proprietary AI into our core businesses, which is why Artprice by Armarket has acquired a substantial headstart in this domain since 1999 and made 2024 the key year for its Intuitive Artmarket ®. In economic terms, this tool will generate more sophisticated subscription options and therefore more recurring turnover (ARR).

Investors are looking for serious investment opportunities in the field of AI on both sides of the Atlantic.

Our algorithms and billions of proprietary logs along with our texts and tens of millions of artworks from the Artprice databases allow us to identify all the terminology that qualify artists’ universes, their inspiration, the mediums they use, their themes, their shapes and volumes, etc… and then create a syntony by opening up the worlds of the 833,000 artists we follow with their biographies and certified data, going far beyond classic academic visual criteria via the neural networks of our Intuitive Artmarket ® AI.”

Intuitive Artmarket ® will notably calculate the values of artworks based on an analysis of past sales that is specific to Artprice; but it will also be able to anticipate future fluctuations, including for totally unique works. It will also make it possible to identify highly complex transversal artistic trends that largely escape the academic, institutional and university worlds.

Our Intuitive Artmarket® AI will have numerous applications within the scope of Artprice by Artmarket, all offering high-added value and featuring numerous paid services.

Of the many new service projects in 2024 for Artmarket’s clients, we plan to link Intuitive Artmarket® with our Standardized Marketplace® which was created in 2005 and offers over 77,000 artworks at a fixed or biddable price. We also plan to link our Intuitive Artmarket® to all of Artprice by Artmarket’s databases.

Intuitive Artmarket® will constantly assist Artmarket clients – whether art enthusiasts, art market professionals or museum curators – to build and/or manage their collections.

With the analysis of billions of logs, 125 million clipped and tokenized images of artworks, more than ten million auction results (word embedding), Intuitive Artmarket® will be able to provide extremely relevant solutions for customers wishing to start, or manage, an art collection.

To build the collection, Intuitive Artmarket® will provide suggestions for works to acquire based on criteria the client has provided such as the budget allocated over time, the artistic movement(s) the customer is interested in, the preferred medium(s), the favorite artist(s) or similar artists, the preferred dimensions of the works, the favorite acquisition location(s) (in full compliance with the different legislative frameworks on personal data security). It will also be able to identify from the behavioral analysis of the client’s searches certain preferences that neither the client nor an appointed expert might have been aware of. It goes without saying that this analysis via Intuitive Artmarket® will be conducted with the consent of the client as part of his/her paid subscription (in accordance with the terms and conditions enumerated in the General Conditions of Sale and Use attached to his or her subscription).

As regards collection management, Intuitive Artmarket® will update the value of the collection in real-time, not only by taking into account the latest auction results but also by projecting trends with expected results, built on in-depth data analysis.

Intuitive Artmarket® will notify the collector and/or art market professional of sale and/or purchase opportunities, depending on the objectives identified by the collector or the professional over time. These may range from the desire to enhance the pecuniary value of a portfolio to the desire to enhance the artistic value of a collection; everything will be possible via an intuitive configuration.

Contemporary artists will also be able to use this tool to offer their works for sale on our Standardized Marketplace® with higher probabilities of reaching buyers, particularly artists producing NFTs. Bearing in mind all the underlying parameters and data, Artprice is the only platform on the global market that can deal effectively with the certification of primary issues of Art NFTs in an environment of cryptocurrencies alongside the major international currencies.

With Intuitive Artmarket®, it has never been so easy and intuitive to discover the parallel worlds of ‘Online Art’ and ‘Auction House Art’ (we are directly linked to 7,200 auction operators around the world).

In today’s extraordinarily busy world, every minute counts and Intuitive Artmarket® will allow users to explore the Standardized Marketplace® and monitor the global art market with infinitely better results and much more quickly. Less time spent also means less energy spent, which is perfectly in line with Artmarket.com’s eco-responsible approach.

Artificial Intelligence has opened the door to a deluge of IP conflicts such as the legal dispute surrounding Stability AI, the creator of an AI generating synthetic photos, now accused by Getty Images of having extracted millions of images from Getty Images databanks.

ChatGPT is regularly the subject of professional news media headlines like Is ChatGPT violating copyrights?”… to which the vast majority of lawyers respond that it is nothing more and nothing less than a veritable copyright pillage – and therefore a massive copyright violation engine – which makes OpenAI, for its part, an outright counterfeiter.

And then there is the historic initiative by the Authors Guild, the largest professional association of American writers, which, according to Rolling Stone magazine, filed a class action on 20 September 2023 in a New York Supreme Court against the company Open AI (creator of ChatGPT), accusing it of ‘feeding’ or ‘training’ its large language model (LLM) with their copyright-protected works. Authors Guild President, Maya Shanbhag Lang said, “This is just the beginning… We do not bring this suit lightly. We are here to fight.”

In contrast, Artmarket’s AI (Intuitive Artmarket ®) is based exclusively on its massive proprietary content which is protected under intellectual property law, thereby allowing us to overcome these obstacles and potential prohibitions. In other words, our Intuitive Artmarket ® has no need to look elsewhere for data or for responses to very specific searches from art market amateurs or professionals.

This fact will underpin and generate constant growth in our turnover and guarantee the sustainability of our model, which, in turn, will generate considerable upside potential and peace of mind for Artprice by Artmarket.com’s shareholders. Over the last two decades Artprice has recorded, observed and induced hundreds of millions of human decisions in relation to the art market. This market is of course infinitely complex due to the heterogeneous and singular nature of art on the other hand, and the abstract notion of beauty at the limits of human emotion on the other.

The algorithmic learning that has fueled our AI has allowed Artprice to create AI models that are unique to the specific world of the Art Market and which constitute Artprice by Artmarket’s strongest revenue-generating power.

For over 20 years, Artprice by Artmarket has gradually stabilized its ‘alignment problem’, a key issue for the successful genesis then construction of its AI (Intuitive Artmarket®). For the Artprice group, the so-called ‘alignment problem’ means all of the scientific and ethical questions raised by the relationship of its artificial intelligence system (and its induced results) with the values, expectations and human sensitivities specific to the Artprice by Artmarket group, its clients and the intangible and centuries-old rules of the art market.

Artmarket’s AI (Intuitive Artmarket ®) will be supervised by ‘prompt engineers’, a new career that includes the programming and management of proprietary AI.

The possibilities offered by properly managed AI are therefore immense, which explains its popularity: Microsoft ® Bing Chat now attracts more than 100 million active users per day with a commitment to responsible AI that respects copyright and copyright-related rights.

Microsoft has already started rolling out Bing Chat for Business and Microsoft Copilot in paid subscription mode.

Microsoft’s Copilot® works with GPT-4 Turbo, the new DALL-E 3 model, and is now Microsoft’s spearhead service at the heart of its 365 Business Premium and Business Standard licenses. Indeed, Microsoft has clearly demonstrated that its AI Copilot® is a very powerful accelerator of its sales of ‘365’ subscriptions to its cloud, thereby confirming the viability of this AI economic model for Artprice and its Intuitive Artmarket®.

Via thousands of beta test searches on the art market and on artists, Artprice by Artmarket.com has observed that Bing IA GPT-4 regularly cited Artprice and Artmarket.com URLs in reference to its sources. Microsoft® Bing works in partnership with OpenAI to deliver an experience that encourages responsible use. Likewise, Chat GPT-4 Pro is in paid mode on Apple iOS and Android.

For reference, one of the best-known neural networks is the Google search algorithm that Artprice has studied and analyzed daily since 1999. Since the beginning of 2023, Artprice Inc., our American subsidiary, has been following the development of Google Bard and notably since the release on 8 February 2024 of its Gemini Pro AI with its Ultra 1.0 interface, a direct competitor to GPT-4.  Gemini is a prototype chatbot (an experimental conversational AI service) built by Google based on its LaMDA language model. Here too, Artprice engineers measured the searches on Google Bard and Gemini specific to the art market and noted a high volume of responses relative to links to Artprice databases.

One of the G7’s major concerns is the rapid adoption of regulations on AI.

Europe, and particularly France, wants to make the European continent one of the world leaders in AI, and it is interesting to note that the first texts regulating artificial intelligence are currently being passed into law.

“The Council of the European Union approves a text to regulate artificial intelligence”

On Friday 2 February 2024, representatives of EU member states approved new legislation on artificial intelligence. Once voted by the European Parliament, this legislation will constitute a global first. Artprice by Artmarket has participated in the debates that have contributed to this legislation via its lawyers and advisors. This new legislation establishes specific constraints, notably regarding personal data, as well as copyright protection and thorough source quotation.

Initially drafted in 2021, the first version of the text had to be completely overhauled because of the evolution of artificial intelligence in recent years.

The European project to regulate artificial intelligence (AI) reached a new milestone on Friday, 2 February 2024. “Today the 27 Member States unanimously approved the political agreement concluded in December recognizing the balance found by the negotiators between innovation and security”, announced the European Commissioner for the Internal Market, Thierry Breton, on X. The negotiators of the European Parliament and the Council, co-legislators, had reached an agreement in principle on 8 December 2023.

The regulation, called the “AI Act”, aims to regulate both the use and the development of artificial intelligence. It is the first such legislative framework in the world. According to a press release from the European Parliament in December 2023, the text “aims to ensure that fundamental rights, democracy, the rule of law and ecological sustainability are protected against high-risk AI, while boosting innovation and making Europe a leader in the field”.

Certain uses of these new technologies will be prohibited, such as social rating and behavior manipulation. The most risky practices will have to meet reinforced requirements, such as an obligation of transparency or the implementation of human control over the software.

These various provisions and amendments are very positive for Artprice by Artmarket.

According to the best Anglo-Saxon financial analysts, who are one step ahead of Europe on this subject, the only economically viable model –  i.e. one that does not expose the economic entity (whatever its size) to incessant legal proceedings – is an AI-based on an extremely well-defined economic segment.

The economic segment must have information that plays an absolutely vital role, full intellectual property of the entirety of Big Data (including Data Mining), of the copyright and related rights confirmed on all algorithms, databases, with machine learning (deep learning) and neural networks.

In short, the AIs that will triumph with very substantial economic gain and without major industrial or legal risk, are the economic entities that own, in full intellectual property, all of the different stages of the proprietary AI in a defined market segment where expensive high added-value information plays a vital role. And this is exactly the case of the Intuitive Artmarket ® AI developed by Artprice by Artmarket.com

Our Intuitive Artmarket ® AI has been designed in total recognition of this reality.

The following paragraph was largely generated by our Intuitive Artmarket ® AI system

According to thierry Ehrmann, a pioneer of the Internet and databanks since 1987 with his Groupe Serveur, parent company of Artprice (Who’s Who In France biography: https://imgpublic.artprice.com/img/wp/sites/11/2024/02/2024_Biographie_thierry_Ehrmann_WhosWhoInFrance.pdf), and Founder of Artprice & CEO of Artmarket, the Group’s guiding principle for its AI is very simple: “There cannot be artificial intelligence without human intelligence”.

The certification by Artprice of NFT primary issues

Release of the ARTE documentary in 5 languages: “NFT, Chaos in the art world

https://www.arte.tv/fr/videos/RC-024624/nft-chaos-dans-le-monde-de-l-art/

Throughout this documentary, thierry Ehrmann, visual artist, NFT artist and Founding CEO of Artprice.com, delivers his analysis accompanied by other artists, experts and international players in the world of Art NFTs.

Any attempt to understand the significance of NFTs in Art History requires an appreciation of the digital and cultural revolution that they represent and some kind of prediction regarding their role and impact over the short and medium term.

Artprice by Artmarket.com can confirm that for the first half of 2024, the Art NFT phenomenon is becoming a lasting segment of the art market on all continents, with new legislation that is currently much more favorable in the USA. Meanwhile, European lawmakers are working on a regulatory framework that will prevent cryptocurrencies being used for money laundering and bring confidence to consumers, investors and operators.

This framework has been the subject of studies, conferences and proposals to major French and European government bodies by the Art & Law Institute with which Artprice by Artmarket has been heavily involved as a historical member since 1997.

According to thierry Ehrmann “In its various annual reports on the Art Market and the regulated information it publishes as a listed company, Artprice by Artmarket.com has always said with regard to NFTs that it is impossible to apprehend this new market without a true understanding of Blockchain, crypto-currencies and their cultural origins among the Cypherpunks (period of PGP-type data encryption at the beginning of the 1990s).”

Indeed, OpenSea, the leading NFT platform, itself declared that 80% of primary issues of Art NFTs are likely to impact third-party intellectual property rights. Faced with this observation, Opensea 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.

Bearing in mind all the underlying parameters and data required, Artprice by Artmarket is the only organization on the global art market to be able to truly respond to the certification of primary issues of Art NFTs in an environment of cryptocurrencies and major international currencies.

This capacity to certify the primary issues of Art NFTs is based on the fact that Artprice by Artmarket has been the Global Leader in Art Market Information for more than 27 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 a guarantee of the authenticity and historical veracity of its databases.

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 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.

With its Metaverse – the ultimate and inevitable outcome of the NFT revolution – Artprice by Artmarket aims to be the most successful and competitive Art NFT platform.

The Metaverse will guarantee the exponential and continued growth of the art market through NFTs. Alongside the Metaverse, there is the Blockchain and its smart contracts to allow fair remuneration for artists, with copyright bodies such as the ADAGP (in France), to which Artprice has long been affiliated in order to support artists.

Three years ago Artprice recognised that Ethereum would become the reference Blockchain for smart contracts in the Art NFT Market. Christie’s 3.0 is also based on the Ethereum Blockchain since 2022.

According to a study conducted by Artprice by Artmarket:

“All of the art market’s market-makers, and in particular the majority of its auction houses around the world, now have an NFT department for cataloged and online sales throughout the year. Likewise, all the major structures in the museum /art gallery industry are starting to publish their own NFTs. The vast majority of the major players in the art market have chosen the Ethereum Blockchain whose smart contract ensures a transparent and tamper-proof market.

Digital Art – first created in the 1980s –  is finally emerging and is appealing to nearly half a billion Art NFT enthusiasts at costs that are now very accessible. The authenticity and traceability of the purchase or sale of Art NFTs is now guaranteed by Blockchain. Samsung TV’s Tizen OS, loaded on several hundred million Smart TVs, offers direct access to the ” NFT Art” application among its automatically installed apps, between Netflix and YouTube.

There are already more than 54,000 artists identified by Artprice who directly produce their NFTs for their buying public, and this is only the very beginning of a total paradigm shift.

According to many sociologists, art historians and analysts, the advent of NFTs is a major event that definitively modifies the structure of the art market and its players as it has been since 1950.

Artmarket.com: after including cryptocurrencies alongside traditional currencies for auction results in 2022, the Artprice Standardized Marketplace® has now integrated Bitcoin and Ethereum for buying and selling artworks

thierry Ehrmann, the CEO of Artprice by Artmarket: “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.

Every day Artprice’s Standardized Marketplace® offers more than 77,000 artworks from all over the world. These works are bought and sold by 7.2 million customers and members of Artprice, generating an annual trading volume estimated at several hundred million euros. This platform demonstrates the trust built over more than 18 years between buyers and sellers. It was therefore natural that after adding cryptocurrencies to the means of payment, Artprice should also endow the platform with a new category/medium, Art NFTs, as a sign of their legitimate entry into Art History and the history of the art market.”

The decision to quote cryptocurrency prices on our Standardized Marketplace® was taken after a long and careful observation of an increasing consultation of auction results in Bitcoin and Ethereum across all of Artprice’s databases since their effective integration into our system in September 2022.

These two main cryptocurrencies (ETH and BTC) account for more than 92% of the total value of the approximately 23,000 currently existing cryptocurrencies (excluding stablecoins).

By analyzing its hundreds of millions of connection logs, Artprice has observed – over 17 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 and 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.

But the major event in cryptocurrencies is notably BlackRock’s (the largest asset manager in the world) and Fidelity’s introduction of ETFs directly invested in Bitcoin (Bitcoin spot ETFs) authorized by the SEC on 11 January 2024. This is a real consecration for Bitcoin which on 9 February 2024 was quoted at around 49,000 dollars, while Ethereum was at $2,500 (ETH ETFs are expected very soon).

BlackRock and Fidelity have achieved the best ETF launches in 30 years thanks to Bitcoin. In their first month of trading, the “IBIT” and “FBTC” funds raised $6.5 billion, which is more than any of the 5,500 other index funds launched before them (according to Les Échos of 10 January 2024: “Bitcoin ETF: the SEC opens the doors of Wall Street wide to Bitcoin“.

This is a new record for Bitcoin. Of the 5,535 ETFs launched over the last thirty years, none have gotten off to such a strong start as BlackRock’s ‘IBIT’ and Fidelity’s ‘FBTC’, said Bloomberg expert Eric Balchunas.

This allows retail and professional investors to gain exposure to the largest cryptocurrency by market capitalization, without having to directly hold the asset.

Via cryptocurrencies, new collectors and art enthusiasts have been attracted to the art market, often younger than their predecessors. Not averse to speculation and the excitement of taking risks, these art enthusiasts and collectors solidly welded to their crypto-universe of Web 3.0.

The near future of Artprice by Artmarket is the meeting place between Web 3.0. (Metaverse and NFT) and Artprice’s artificial intelligence, its Intuitive Artmarket ® AI.

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 Artprice Metaverse, accessible in AR (augmented reality) and/or VR (virtual reality), currently being finalized, must be designed to make people forget rigid IT with Web 2.0, a real obstacle to creation. It should allow crypto-universe enthusiasts to live their experience fully, in particular through the general release in the USA on 2 February 2024 of the Apple® Vision Pro, which offers spatial computing. Meanwhile, all of the American tech giants are massively investing in AR/VR headsets and glasses.

Furthermore, the difficult economic context did not stop Ethereum’s transition to “The Merge” on 15 September 2022 for the completely decarbonized Ethereum 2.0 Blockchain (against the backdrop of a global energy crisis. Indeed, according to its Founder Vitalik Buterin, thanks to “The Merge”, the electricity consumption of the ETH Blockchain shrank by more than 99.95% by switching from ‘Proof of Work’ (PoW) to ‘Proof of Stake’ (PoS). The year 2024 will see the new version “The Surge” (EIP-4844) allowing transaction costs to shrink as well (Source Ethereum Foundation).

The near future is approaching fast and Artprice by Artmarket is at the forefront of this paradigm shift.

Images:
[https://imgpublic.artprice.com/img/wp/sites/11/2024/02/image1_ai_intuitive_artmarket.jpg]
[https://imgpublic.artprice.com/img/wp/sites/11/2024/02/image2-ghost-ship.jpg]

Copyright 1987-2024 thierry Ehrmann www.artprice.com – www.artmarket.com

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/11/2024/02/2024_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 6.5 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 ARCHITECTURE
Confidential bilingual work now public:
https://ftp1.serveur.com/abodeofchaos_singular_architecture.pdf

Contact Artmarket.com and its Artprice department – Contact:  Thierry Ehrmann, [email protected]

Photo – https://mma.prnewswire.com/media/2339778/Artmarket_1.jpg
Photo – https://mma.prnewswire.com/media/2339777/Artmarket_2.jpg
Logo – https://mma.prnewswire.com/media/2260897/4543220/Artmarket_logo.jpg

Artmarket logo

 

 

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Blockchain

Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest

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Venture capital funding for cryptocurrency and blockchain projects has seen a notable resurgence in the first quarter of 2024, marking its first quarterly rise since 2021. Crunchbase data released today indicates that Web3 startups secured nearly $1.9 billion in funding across 346 deals during this period. This represents a substantial 58% increase from the previous quarter, offering a glimmer of hope amidst the ongoing downward trend in overall crypto VC interest.

The recent surge in funding can be attributed to investors adopting a more long-term perspective on Web3, as opposed to the hype-driven “tourist investors” predominant in recent years. Chris Metinko, the author of the report, notes that investors are shifting their focus to the AI sector, indicating a change in investment strategy. There is a growing interest in supporting the foundational infrastructure of the decentralized internet, rather than solely concentrating on crypto wallets and lending platforms, which attracted significant investments during the peak period of 2021 to 2022.

While large funding rounds were relatively uncommon in Q1, several notable investments stood out. Exohood Labs, a company integrating AI, quantum computing, and blockchain, secured a remarkable $112 million seed round at a valuation of $1.4 billion. EigenLabs, an Ether token “restaking” platform, raised $100 million in a Series B round led by a16z crypto. Additionally, Freechat, a decentralized social network leveraging blockchain technology, secured $80 million in a Series A round. These investments, among others, contributed to the increase in valuations and the emergence of four new Web3 unicorns in Q1.

Despite the recent progress, the future trajectory of Web3 remains uncertain. Metinko suggests that the next few quarters will be pivotal in determining the industry’s direction. While investors anticipate a rebound in investment as the decentralized internet evolves, it may take another year for venture capital activity to stabilize after the exuberance of 2021. Factors such as the approval of U.S. spot Bitcoin exchange-traded funds and the upcoming Bitcoin halving could also influence the market, given the rising prices of Bitcoin and Ether.

A noteworthy example of significant funding in the Web3 space is Monad Labs’ recent successful funding round, which secured $225 million led by Paradigm. Monad Labs is a layer-1 blockchain compatible with Ethereum, offering faster transaction processing. This funding round harkens back to the golden era of crypto funding in 2021-2022, when L1 solutions attracted substantial investments.

Earlier this year, Balance, a digital asset custodian based in Canada, announced that it had once again reached $2 billion in assets under custody (AUC) amidst the recent market recovery. Similarly, Korea Digital Asset (KODA), the largest institutional crypto custody service in South Korea, has experienced remarkable growth in crypto assets under its custody, expanding by nearly 248% in the second half of 2023.

Analysts at Bernstein Research project that crypto funds could reach an impressive $500 billion to $650 billion within the next five years, representing a significant leap from the current valuation of approximately $50 billion. This forecast underscores the growing optimism and potential for substantial growth within the crypto industry in the coming years.

Source: cryptonews.com

The post Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest appeared first on HIPTHER Alerts.

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Blockchain

ASIC cracks down on blockchain mining firms

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Three blockchain mining companies – NGS Crypto, NGS Digital, and NGS Group – along with their directors, Brett Mendham, Ryan Brown, and Mark Ten Caten, are facing legal action from the Australian Securities and Investments Commission (ASIC) for allegedly operating without a license, in violation of Australia’s Corporations Act. ASIC initiated legal proceedings against these entities on April 9, citing concerns about their non-compliance with financial regulations and their solicitation of Australian investors.

According to ASIC, the NGS companies promoted blockchain mining packages with fixed-rate returns to Australian investors, encouraging the transfer of funds from regulated superannuation funds to self-managed superannuation funds (SMSFs) for conversion into cryptocurrency. Approximately 450 Australians invested a total of around USD 41 million in these packages, raising concerns about potential financial losses.

The legal action filed by ASIC alleges that the companies violated section 911A of the Corporations Act, which prohibits companies from providing financial services without a valid Australian Financial Services Licence (AFSL). ASIC is seeking interim and final court orders to prohibit the NGS companies from offering financial services in Australia without an AFSL.

ASIC Chair Joe Longo emphasized the importance of investors carefully considering the risks before investing in crypto-related products through their SMSFs. Longo stated that ASIC’s actions send a message to the crypto industry about the regulator’s commitment to ensuring compliance with regulations and protecting consumers.

In a separate development, the Federal Court appointed receivers for the digital currency assets associated with the NGS companies and their directors to safeguard these assets amid concerns about the risk of dissipation. Mendham was also issued a travel restriction order, preventing him from leaving Australia.

While a court date for the proceedings has not been set, ASIC’s investigation is ongoing, with the regulator continuing to gather evidence and build its case. It is worth noting that the investigated companies share a similar name with NGS Super, a legitimate Australian pensions provider, leading to potential confusion among investors. NGS Super clarified that it is not involved in selling cryptocurrency or related products and has taken legal action to protect its trademark and members’ interests.

Source: iclg.com

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Crypto and Blockchain Weave Deeper Into the Biometrics Space – Identity News Digest

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AuthID Inc. has formed a strategic partnership with the National Notarial Centralized Verification System (NNCVS) to integrate biometric identity verification into NNCVS’s online notary platform. NNCVS, a provider of nationwide online services for notaries, aims to transition from a local, in-person framework to a more secure, digital model. By leveraging AuthID’s platform, NNCVS will authenticate the identities of notarial agents and their clients using biometric checks that compare selfies with ID document photos. This enhancement ensures heightened security throughout users’ interactions with the service.

iVALT has introduced a mobile app called OnDemandID, designed to enable users to verify the identity of individuals during phone calls, video calls, or online interactions with a single click. The app employs multiple verification elements, including biometrics, device ID, and location-based parameters like geofencing and time windowing, to prevent deepfake attacks and identity fraud. OnDemandID prioritizes user privacy by storing biometric data locally on the device and refraining from tracking user movements. Additionally, iVALT offers integration into existing enterprise mobile apps, providing a solution to enhance caller verification processes within corporate environments.

Keyless, a company specializing in secure facial recognition, has partnered with EnQualify, an AI-powered Know Your Customer (KYC) verification provider, to enhance online identity verification. Keyless’s privacy-centric ZKB technology will integrate with EnQualify’s AI for initial user verification, enabling a seamless and secure authentication process. This collaboration eliminates the need for repetitive steps and data storage, offering a faster and more user-friendly verification experience while ensuring robust security measures.

Australian fintech Waave has launched its Wallet app to enhance security and convenience for online payments. Integrated with Waave’s Pay by Bank system, Wallet utilizes fingerprint or facial recognition for secure authentication, eliminating the need for passwords and card details. This approach addresses concerns about online fraud, providing a streamlined payment process for consumers and merchants alike. Additionally, Wallet will introduce expense tracking features later in 2024, further enhancing its utility for users.

BeatBit Wellness Lab has introduced the CUDIS ring, a wearable device focused on user-controlled health data management. Powered by Solana blockchain technology, CUDIS tracks biometric data and offers personalized health insights using AI algorithms. Users can contribute anonymized data to a research network and earn rewards, emphasizing data ownership and privacy. The CUDIS ring integrates securely with other Solana and Web3 products, offering users a comprehensive health monitoring solution within the decentralized ecosystem.

Worldcoin has unveiled World Chain, a new blockchain platform designed to prioritize verified human users over bots, aiming to reduce network congestion and transaction fees. Integrated with the Worldcoin protocol’s Proof of Personhood, World Chain provides verified users with priority blockspace and gas allowances. This Layer 2 solution, secured by Ethereum, offers developers access to a large pool of verified users for deploying utility applications. World Chain is set to be open source and permissionless, with plans for community-based governance in the future.

New South Wales (NSW) has launched an Australia-first trial to test digital birth certificates, involving over 18,000 children associated with specific educational institutions. Led by the NSW Registry of Births, Deaths and Marriages in collaboration with the Department of Customer Service, the pilot explores the use of digital certificates with the same legal validity as traditional paper versions. Digital birth certificates aim to simplify administrative tasks and offer enhanced security and convenience, particularly in disaster-prone areas where paper documents could be compromised.

Source: findbiometrics.com

The post Crypto and Blockchain Weave Deeper Into the Biometrics Space – Identity News Digest appeared first on HIPTHER Alerts.

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