PARIS, Nov. 18, 2021 /PRNewswire/ -- As announced in our
previous press release of November 9,
2021, Artmarket.com hereby declares – with supporting
studies and data – that Artprice's NFT® Marketplace is perfectly
positioned to generate a future annual turnover of several tens of
millions of euros.
https://www.prnewswire.com/in/news-releases/artmarket-com-perfectly-positioned-to-generate-enormous-revenue-from-its-nft-marketplace-on-artprice-nft-com-871911795.html
Artprice Metaverse
© 'Alchemical Fractal 1' (collection of 999 works), raw steel, NFT
sculpture and algorithm by thierry Ehrmann.
Courtesy of Organe Museum / Abode of Chaos / La Demeure du
Chaos
https://www.flickr.com/photos/home_of_chaos/albums/72157714573284962
Photo -
https://mma.prnewswire.com/media/1692202/Artprice_Metaverse.jpg
artprice-nft.com
Photo -
https://mma.prnewswire.com/media/1692203/Artprice_NFT_Bill.jpg
This prediction is based on the economic reality of the NFT
medium as it is today and its almost unlimited
potential in the rapidly emerging Multiverse of Metaverses.
It is also based on the history, economic model, eco-responsible
choices and disruptive philosophy that are part of the DNA of
Artprice by Artmarket, which has always sought to place artists at
the heart of the Art Market.
In order to appreciate the dimensions and magnitude of what
might loosely be termed the 'NFT phenomenon', one needs to start by
digesting the following fact: by the end of the third quarter of
2021, NFTs had generated 45 billion
dollars around the world!
With its pioneering digital experience on the Internet for
almost a quarter century and its leading position in the
collection, exploitation and delivery of art market information,
Artprice by Artmarket is perfectly positioned to capture a
significant portion of this new market – at least several tens of
millions of euros – because its clients are already key art market
players all over the world.
According to a Harris survey, 11% of American adults have
already purchased an NFT. However what makes this figure so
stunning is that they had never before bought an artwork.
This suggests the existence of a colossal reservoir of new buyers
who will inevitably generate new sources of income... and that's
just in the USA.
Financial analysts at Jefferies – a prestigious American
investment bank – are expecting the NFT market to double in value
in 2022 and believe it very likely to represent at least
$80 billion in 2025. It is important
to remember that the current non-digital secondary art market is
worth approximately $10 billion a
year. We are therefore looking at a massive new growth driver and a
complete change in the dimension and structure of the global art
market. (Jefferies is a highly influential broker on global
financial markets and is listed as a Fortune 1000 company in
the United States).
Meanwhile, Brian Armstrong, CEO
of Coinbase (market cap of $73
billion) has speculated that sales of NFTs could overtake
cryptocurrency trading. At the company's latest earnings conference
call, he said that its future may soon lie in the NFT market.
"We are very excited about NFTs, this is going to be a very
large market for crypto going forward, and it is already happening
today. It could be as big, if not bigger, than the company's
cryptocurrency business" he said.
Caty Tedman, Head of Partnerships
at Dapper Labs and leader of the NBA's Top Shot digital
collectibles project told CNBC, "NFTs are here to stay."
According to a Reuters press dispatch dated November 17, 2021: 'On the biggest NFT
marketplace, OpenSea, there were $2.6
billion of sales in October this year, a massive increase
from the $4.8 million in October 2020'.
These estimates and opinions all suggest that the NFT market has
gone from a niche market to a multi-billion dollar market in just a
few months.
Artmarket.com therefore plans to use its key position in the art
market to become a key player in the fine arts segment of the NFT
universe/metaverse, which – far from peaking – is growing like
wildfire. We firmly believe this sphere is now in its infancy and
that Artprice by Artmarket will become one of the reference players
in an industry already on track towards exponential growth.
The choice of Artprice by Artmarket in the Blockchain
Artprice by Artmarket will operate with the Ethereum platform
and its native cryptocurrency, the Ether (ETH), the second largest
cryptocurrency in the world by market value, and above all, the
preferred cryptocurrency of the NFT digital art world. The world's
major art vendors have all chosen Ethereum including Sotheby's,
Christie's, Bonhams and Phillips.
For a number of reasons – not the least of which are Artmarket's
environmental concerns – Ethereum with Artmarket will function in
staking mode (proof-of-stake). This will avoid both the wanton
consumption of data mining energy and major investments in
hardware.
According to thierry Ehrmann: "the data mining activity,
devoid of any ethical values, has turned its miners into a digital
proletariat".
Staking allows Ethers to be immobilized in an Artprice smart
contract. In reality, Artprice's primary added-value will be in its
certification of the authenticity of the artist and his/her works
from its reference databases. Artprice already has an open
community of 765,000 artists and 5.4 million involved and
contributing members including 4.5 million art collectors and
enthusiasts and 900,000 art professionals (auction houses,
appraisers, institutions, art dealers, family offices and private
banking, etc.).
Artprice's Metaverse community will effectively merge with the
economic and virtuous ecosystems in the broader metaverse, and
vice-versa, thus allowing exponential growth in full compliance
with Metcalfe's famous law on
network proliferation.
At the same time, Artprice will allocate 'wallets' to its
community.
The development of 'staking' will likely lower entry barriers
into the cryptocurrency ecosystem.
After numerous exchanges with NFTs platforms and marketplaces,
Artmarket.com maintains the best contacts with two major NFTs
operators, namely Opensea and Rarible.
Artprice by Artmarket has decided to build its Metaverse with
Ethereum 2.0 and the transition to proof-of-stake (POS). The
developers of the Ethereum platform always wanted to change to the
consensus system by moving to a proof-of-stake mechanism, known to
offer better performances.
Artprice by Artmarket is very sensitive to the ecological impact
of its activities. Considering the energy consumption in
proof-of-work cryptocurrency mining, this decision is also
ecologically responsible.
With proof-of-stake, miners are replaced by players called
'validation nodes'. In this mechanism, the latter must deposit, or
stake, 32 ETH on an address to be able to validate and add
transactions to the blockchain.
Artprice is particularly motivated by the writings of
Vitalik Buterin, co-founder of the
Ethereum network, who has been lauding the merits of the
proof-of-stake consensus mechanism since 2016. The
transformation of Etherium towards 2.0 has indeed confirmed the
maturity of his project.
Vitalik Buterin's philosophical
and political vision is in accordance with the values that thierry
Ehrmann has carried through Artprice and Groupe Serveur since 1987,
himself a pioneer of the Internet (cf. Time Magazine).
Artprice's IT community, its members and crypto enthusiasts
around the world are indeed very pleased with the news of the
switch in early 2022 to Ethereum 2.0 (also called
"Serenity") via an upgrade of the proof-of-stake
platform.
According to thierry Ehrmann – Artmarket.com's CEO, founder of
Artprice and CEO of Server group, an "Internet pioneer" since 1987
and Artprice's reference shareholder –
"In historic terms, the nearest thing to the impact of NFTs on
the art world was the paradigm shift we now call the 'Renaissance'.
Not since then has there been such a massive transfer of power into
the hands of artists, because it was thanks to Johannes Gutenberg's printing press that artists
were able to print editions of their work.
The Renaissance allowed artists to generate incomes and to
control their production independently in their workshops and
factories. Today with NFTs, we are experiencing a similar paradigm
shift."
Artprice by Artmarket's Metaverse Manifesto
Artprice's Metaverse will allow the emergence and liberation of
artistic creativity, backed by 25 years of expertise in the economy
of artistic creation. In order to be free in their 'FabLabs',
artists need to overcome obstacles and technological barriers.
The Metaverse is not a 2D or a 3D world. It is about the
dematerialization of the physical world towards a new universe
where once impossible experiences become possible.
During the 21st century's Enlightenment, the art world will be
reshaped around virtual creation and the virtual (but very real)
economy, allowing the emergence of a genuinely boundless space for
artists to express themselves.
Even in the virtual world of the Metaverse, singularity will
remain one of the most prized qualities.
Artprice by Artmarket's Metaverse will allow the emergence of a
creative interaction within an artistic community where collectors
and artists will generate an entirely new narrative. The Metaverse
will be the basis for a social 'immersion' generating precisely the
interaction that artists seek, thus propelling the art market
deeper into the Metaverse.
We are in effect talking about a vast "push and pull" ecosystem
where all the actors of the art market, including artists and
collectors, will share a 'community content'. Artists will be at
the center of the Metaverse. The artist's 'FabLab' will be open in
real time to the community through the Metaverse.
Experiences within the Artprice Metaverse will be increasingly
immersive, with artists having access to all the necessary
technologies both easily and cheaply, generating a virtuous
economy.
The Artprice Metaverse will support, among other things, art
market events such as art fairs and exhibitions which, in their
current format, have a seriously negative carbon impact. These
events will thus be reborn in the Metaverse by being at last
constantly present with their community of artists, gallery owners,
collectors and enthusiasts.
The organization of Artprice's clean rooms and its data clouds
across continents is a question of space computing, allowing hybrid
(i.e. real / virtual) computing, which ensures the permeability
between the physical world and the Metaverse.
The Metaverse of Artprice's head office is located deep within
the Organe Museum of Contemporary Art which manages the Abode of
Chaos. To create the Metaverse of this singular architecture and
Total Artwork by thierry Ehrmann, the European group TT Géomètres
Experts and its 3D Lab conducted, from 2020 to 2021, a complete
digitization of 6,300 artworks integrated into the buildings,
outbuildings and perimeter walls over 7,555 m², thereby generating
a digitized heritage of 1.2 Terra-Bytes.
The Artprice Metaverse – currently under development – is being
designed so that people can forget about rigid IT, a real obstacle
to creation.
Artprice by Artmarket's Research & Development has been
working for five years on non-intrusive interfaces that allow
people to access augmented and virtual realities.
Clearly, 5G mobile networks – with their spectrum of miniscule
frequencies – allow an opening towards the Metaverse and
connection to the 'Internet of Things'.
In the real world, we have a universe made up of millions of
galaxies; in the virtual world – the next generation of Internet –
we will have a multiverse made up of millions of metaverses.
However, the most relevant Metaverse to Art History will be the
one that is most relevant to artists and the art community: the
Artprice
Metaverse...
The Artprice Metaverse Manifesto is quite simply an invitation
to the new era of Enlightenment.
#ArtMarket by #ARTPRICE $ PRC #NFT #CryptoArt #metaverse
#DigitalArt #NFTs #MarketPlace #BTC #ETH #OpenSeaNFT #raribleNFT
#Ethereum #Manifesto
Images:
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https://www.flickr.com/photos/home_of_chaos/50015697223
https://imgpublic.artprice.com/img/wp/sites/11/2021/11/image2-artprice-NFT-bill.jpg
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
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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 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 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
Logo -
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Contact Artmarket.com and its Artprice department - Contact:
ir@artmarket.com