Artmarket.com: Perfectly Positioned to Generate Enormous Revenue From Its NFT Marketplace on Artprice-nft.com
PR92935
PARIS, Nov. 9, 2021 /PRNewswire=KYODO JBN/ --
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 [https://imgpublic.artprice.com/img/wp/sites/11/2021/06/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(R) 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(R) 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 (C):
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(R) 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(R) 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)
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
Source: Artmarket.com
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