Blockchain
Artmarket.com: auction market as builder and buffer for the NFT Market
Traditional auction houses have been playing a launchpad role in NFT trading, but they could provide greater stability for this growing market. By providing valuation estimates, they synthesize the current state of supply and demand; by selling an NFT, they provide a reference price that is independent of the prices practiced on peer-to-peer platforms (like Opensea, Nifty Gateway, SuperRare, etc.). In other words, with their expertise and their temporization of the market, the auction houses may well have a stabilizing effect on the effervescent NFT market.
Abdoulaye Barry, Globule blanc (2022). Paper print + NFT. Estimated €500 – €800, sold €1,080 by Fauve Paris auction house in Paris on 10 March 2022
Thierry Ehrmann, CEO and Founder of Artmarket.com and its Artprice department: “By preparing a sale, publishing a catalog several weeks in advance and by giving a range of estimates and guaranteeing the information long after adjudication, the auction house actually ‘moderates’ the NFT market. This does not prevent prices from soaring if demand is stronger than expected”.
Despite the transparency of blockchain technology, there are plenty of anomalies on major NFT marketplaces. Whether it’s fake accounts (like those that appeared around Takashi Murakami) or arbitrage opportunities (offered to those who manage to integrate the whitelists of the most coveted projects), NFT sales platforms have seen a large number of highly aggressive strategies contributing to price volatility and a degree of instability.
Takashi Murakami’s ‘overly’ anticipated NFTs
Since the announcement of his Flowers NFT project, Japanese artist Takashi Murakami (ranked 105th in our global ranking of artists by 2021 auction turnover, all periods of creation combined) has been the subject of numerous fraud attempts using Instagram and Twitter accounts with deliberately similar names, such as murekemi.flower2022. By inciting you to mint NFTs as quickly as possible (as most NFT drops do), these fake projects try to make you buy instantly, without checking the legitimacy of the creator.
It is clear that Murakami’s NFT project is attracting interest from both traditional collectors and from the crypto community. However, it is looking increasingly likely that his Flowers NFTs will not be launched until around the time of his solo show at the Gagosian in New York, scheduled for May 2022. We will therefore have to wait a little longer than was initially expected to buy into Murakami’s digital Flowers.
https://gagosian.com/exhibitions/2022/takashi-murakami/
Unfortunately, the lack of clarity that currently exists on NFT marketplaces as well as on social media is generating a large number of scams. Almost all of today’s most famous NFT projects have replicas circulating in large numbers on Opensea. This situation could be improved by a more active presence of stabilizing agents such as auction houses in the NFT ecosystem.
At last… a genuine reference price
Of the 10,000 items in the World of Women collection, only one copy went to public auction. Estimated between $400,000 and $665,000 by Christie’s, Woman #5672 was sold on 1 March 2022 in London for $600,000 (to which a 26% buyer’s fees was added, bringing the total purchase price to $755,000).
The value of this work fitted perfectly with the estimate provided by the auction house Christie’s. However, the price of this NFT has been very volatile: barely six months ago, Woman #5672 was acquired for $117,000 (37.95 eth) on the OpenSea platform, and the best offer for this NFT is today $70,000 (20 eth).
https://opensea.io/assets/0xe785e82358879f061bc3dcac6f0444462d4b5330/5672
Because it was outside the blockchain, data relating to Christie’s sale does not appear in the work’s activity log on OpenSea. On the other hand, the identity (or rather the pseudonym) of the buyer of Woman #5672 has been revealed by Opensea: it is the moonpay.eth account. In this way, the OpenSea platform and Christie’s auction house both provide two complementary bits of information.
Image: [https://imgpublic.artprice.com/img/wp/sites/11/2022/03/image1-Abdoulaye-Barry-Globule-Blanc-2022.jpg]
Copyright 1987-2022 thierry Ehrmann www.artprice.com – www.artmarket.com
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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