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World First: how to own shares in a Picasso masterpiece

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A Swiss digital bank will offer customers the ability to buy tokens and shares in a Picasso painting

The art investment fund is offering shares in a Picasso masterpiece from 1964.

“Fillette au béret” is being sold or “tokenised” – via the blockchain.

Sygnum, the digital asset-focused Swiss bank organising the sale, says this is a world first.

ASTs will go on sale for a minimum subscription of 5,000 Swiss francs, Sygnum said.

The artwork measures 65 by 54 centimetres and is estimated to be valued at 4 million US dollars.

Investors will have the chance to buy and sell shares in the painting on a secondary market through blockchain technology.

Mat Cole from ACT Capital Partners says its the perfect use for blockchain.

So, do you physically own the artwork?

No. There will be no physical artwork to change hands.

Organisers say the painting, while being available for loan to museums and exhibitions, will be stored in a high-security facility

“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,” it and co-organiser Artemundi, an art investment company, said.

“Tokenisation lowers the barriers to art investment and opens up the art market to a broad range of new investors,” Sygnum’s director general and co-founder Mathias Imbach said in the statement.

In the “Fillette au béret” sale, the tokens are fungible and no Picasso will be burned.

Is blockchain here to stay in the art world?

Mat Cole from ACT Capital Partners says it certainly is, to the extension of being an NFT.

“This is a collectible it is on the blockchain use of technologies here perfect. Is it a smart contract? It shows provenance. And it’s exactly what something like this should be if we’re looking at fractional ownership,” Cole told ticker.

Coles says there’s those two really interesting parts.

“One is a really great use of blockchain technology for something that we know has value for something that we know has scarcity,” Cole says.

Cole says there is a great use of the blockchain technology to bring it into what is the digital world or a modern environment, and actually provide a “really intelligent contracting solution and ownership solution for a really, highly desirable piece of an asset.”

However, he notes the second part is fractional ownership, by sort of crafting the use of the blockchain technology, and allowing people to have fractional ownership.

“I think that is a trend we’re starting to see more and more of, and I think that’s a real opportunity for blockchain technology. And I think it’s a real opportunity for wealth creation.”

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OpenAI to launch TikTok-like AI video app Sora

OpenAI to launch Sora, an AI-driven social app with TikTok-like features amid TikTok’s regulatory uncertainties

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OpenAI to launch Sora, an AI-driven social app with TikTok-like features amid TikTok’s regulatory uncertainties

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In Short:
– OpenAI is launching Sora 2, a social media app with AI-generated videos, competing with TikTok.
– The app features a unique identity verification system and provides short video content without uploads.
OpenAI is set to unveil Sora 2, a new social media app that imitates TikTok by offering AI-generated video content. The strategy positions OpenAI to directly challenge established platforms in the AI video market.The platform has begun internal testing. Employees have reacted positively, raising productivity concerns among managers. Sora 2 features swipe-to-scroll navigation and offers personalized video recommendations.

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A unique identity verification system allows users to authenticate their likeness for use in AI-generated videos. Users will be notified when their likeness is used in videos, regardless of whether these are published. Video lengths are capped at 10 seconds, with no capability to upload personal content.

The app includes typical social media features like likes and comments, with a user interface that resembles TikTok’s “For You” page.

Strategic Launch

OpenAI’s timing for this launch is strategic, coinciding with uncertainties surrounding TikTok’s U.S. operations. Recent deals aim to transfer majority control of TikTok’s American business to U.S. investors while permitting ByteDance a minority stake.

OpenAI perceives the current turbulence as a unique opportunity to introduce a competitive platform for short-form videos, appealing to users seeking alternatives during this period of regulatory scrutiny.


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Optus CEO under pressure after second emergency outage

Optus under mounting pressure for CEO resignation after second emergency outage affects thousands and raises safety concerns

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Optus under mounting pressure for CEO resignation after second emergency outage affects thousands and raises safety concerns

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In Short:
– Optus faces pressure after a second emergency service outage, affecting 4,500 customers for nine hours.
– Calls for CEO Stephen Rue’s resignation intensify amid scrutiny over network investment and safety mechanisms.
Australian telecommunications company Optus is under increasing pressure to address leadership concerns following a second emergency service outage in ten days.
The incident occurred in Dapto, south of Sydney, where around 4,500 customers were unable to reach Triple Zero emergency services due to a faulty mobile tower for nine hours.Optus confirmed all affected individuals were safe, but the repeated outages have raised significant alarms. The first incident took place on September 18, when a firewall upgrade blocked approximately 600 emergency calls across multiple states for 13 hours, resulting in at least four fatalities.

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Calls for CEO Stephen Rue’s resignation have intensified, with opposition spokeswoman Melissa McIntosh stating that citizens need confidence in the emergency network.

Prime Minister Anthony Albanese described the situation as “completely unacceptable.” The response from Optus has faced criticism, especially regarding the delay in notifying emergency services after the September 18 incident.

Efforts to address the failures are underway, with Singtel Group CEO Yuen Kuan Moon scheduled to meet with Australian Communications Minister Anika Wells. The Australian Communications and Media Authority has launched an investigation into the outages.

Governance experts caution that merely replacing leadership will not resolve underlying issues, suggesting that reduced spending on network infrastructure is a contributing factor.

Federal Investigation

New scrutiny has emerged regarding Optus’s network investment, with reports indicating a budget decrease from $850 million in 2024 to $613 million this year.

Concerns have been raised about the absence of critical safety mechanisms, including a reliable system to reroute emergency calls when failures occur.


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Meta intensifies robot development amidst competitive landscape

Meta enters robotics market with strategic partnerships and significant investments amid competition from Tesla, Apple and Google

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Meta enters robotics market with strategic partnerships and significant investments amid competition from Tesla, Apple and Google

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In Short:
– Meta is launching autonomous robots, beginning with a CA-1 AI robot in Germany for domestic tasks.
– The company plans to hire 100 engineers as part of a $60-65 billion AI investment for 2025.
Meta ventures into robotics, joining a market where Tesla’s Optimus robot showcases in controlled settings. Apple is also exploring robotic devices, with planned humanoid concepts by 2027.
Google is advancing robotics via DeepMind with AI models tailored for robotics applications.Banner

Meta recently launched its first autonomous robot in Germany through a partnership with Circus SE, deploying a CA-1 AI robot at its Munich office.

The initiative is part of Meta’s objective to gather data to support its robotics focus on domestic tasks such as cleaning and laundry folding.

Strategic Investment

Industry analysts point to Meta’s software-licensing strategy as crucial in the competitive landscape, where firms often encounter challenges with hardware costs.

By positioning itself to gain from various robotics manufacturers’ successes, Meta utilises lessons from its virtual reality investments, which have seen substantial spending with limited consumer uptake.

The company is set to hire around 100 engineers for its robotics programme within a broader $60-65 billion AI infrastructure investment plan for 2025.

The indicates a strong commitment to integrating AI into physical applications.


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