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.”
OpenAI has taken another giant leap forward with the launch of ChatGPT Atlas — an AI-powered web browser that could redefine how people search, explore, and interact online. Investors and competitors are watching closely as this new technology challenges the dominance of traditional browsers like Google Chrome.
With ChatGPT Atlas, users may soon experience a web that feels less like typing into a search box and more like conversing with an intelligent assistant. The integration of AI could make browsing faster, more intuitive, and more personalised than ever before — but it also raises serious questions about privacy and data use.
As AI becomes more deeply embedded in the digital world, ChatGPT Atlas could represent the next major step toward a fully AI-driven online experience. What does this mean for users — and for the tech giants trying to keep up?
In Short:
– OpenAI partners with Bryan Cranston and unions to combat deepfakes on its Sora app.
– The app now includes options for people to control their likenesses and voices.
OpenAI announced it will work with Bryan Cranston, SAG-AFTRA, and actor unions to combat deepfakes on its AI video app, Sora.Cranston voiced concerns after unauthorized AI-generated clips featuring his likeness emerged after Sora 2’s launch in late September. He showed gratitude to OpenAI for taking steps to safeguard actors’ rights to control their likenesses.
The partnership aims to enhance protections against unauthorized AI content. The Creative Artists Agency and United Talent Agency had previously criticized OpenAI, citing risks to their clients’ intellectual property.
Last week, OpenAI blocked disrespectful videos of Martin Luther King Jr. at the request of his estate, following similar pressures. Zelda Williams also requested the public refrain from sending her AI-generated clips of her late father, Robin Williams.
Policy Changes
Following tensions post-launch, CEO Sam Altman revised Sora’s policy to give rights holders greater control of their likenesses.
The app now allows individuals to opt-out, reflecting OpenAI’s commitment to respond quickly to concerns from performers.
OpenAI backs the NO FAKES Act, supporting legislation that aims to protect individuals from unauthorized AI-generated representations.
OpenAI is focused on ensuring performers’ rights are respected regarding the misuse of their voices and likenesses. Altman reiterated the company’s dedication to these protections.
In Short:
– AWS outage on Monday disrupted major apps like Fortnite, Snapchat, and affected several global companies.
– UK companies including Lloyds Bank and Vodafone reported issues due to the AWS outage.
Amazon’s AWS experienced a significant outage on Monday, impacting major apps including Fortnite and Snapchat. The disruption affected connectivity for numerous companies globally.AWS reported increased error rates and latencies across multiple services and is attempting to recover quickly.
The outage marks the first significant internet disruption since a previous incident last year that impacted essential technology systems globally. AWS offers on-demand computing and storage services and is vital for many websites and platforms.
Multiple companies reported disruptions, including AI startup Perplexity, cryptocurrency exchange Coinbase, and trading app Robinhood. Perplexity’s CEO confirmed on X that the outages were linked to AWS issues.
Amazon’s shopping site, Prime Video, and Alexa services also faced difficulties, according to Downdetector. Other affected platforms included popular gaming applications like Clash Royale and financial services such as Venmo and Chime.
Uber competitor Lyft’s app was reported down for numerous users in the U.S. Messaging platform Signal also acknowledged connection problems stemming from the AWS outage.
British Companies
In the UK, Lloyds Bank, Bank of Scotland, and telecom services provider Vodafone were notably affected. The HMRC’s website also encountered issues during this outage.
Elon Musk stated that his platform, X, remained operational despite the widespread disruptions.