Tech
World First: how to own shares in a Picasso masterpiece
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.”
Tech
Apple set to unveil budget iPhone 17e, new iPads and low-cost MacBook
Apple’s Tim Cook announces major product reveals this week, highlighting budget iPhone 17e, new iPads, and low-cost MacBook.
Apple’s Tim Cook announces major product reveals this week, highlighting budget iPhone 17e, new iPads, and low-cost MacBook.
Apple Inc. CEO Tim Cook has confirmed a major week of product announcements kicking off Monday morning, building momentum toward a global “Apple Experience” event across New York, London and Shanghai. The tech giant is expected to spread its reveals across three days, fuelling speculation about its biggest refresh cycle yet.
Leading the buzz is the rumoured budget-friendly iPhone 17e, signalling Apple’s push to capture more price-conscious consumers without sacrificing performance. Two new iPads powered by advanced chips are also tipped to headline the lineup, pointing to stronger AI capabilities and faster processing speeds.
Rounding out the expected reveals is a low-cost 12.9-inch MacBook that’s already generating serious interest, alongside updated MacBook Pro models and a refreshed Mac Studio. It’s shaping up to be one of Apple’s most significant multi-product launches in recent years.
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Tech
Nvidia posts record revenue as AI fears shake investors
Nvidia’s £68.1 billion revenue, up 73%, raises investor concerns about AI’s impact and tech customers’ financial health.
Nvidia’s £68.1 billion revenue, up 73%, raises investor concerns about AI’s impact and tech customers’ financial health.
Nvidia posted strong quarterly earnings, but Wall Street remained unimpressed, causing shares to fall 5%. Analysts point to investor concerns over AI dominance and a stalled $100 billion deal with OpenAI.
Experts discuss what factors in the earnings report failed to meet market expectations, including revenue projections and details around the Vera Rubin chip architecture. Competition from alternative chipmakers and scrutiny of hyperscaler cash flows are also shaping investor sentiment.
Despite recent setbacks, analysts remain cautiously bullish on Nvidia, highlighting long-term AI potential and the company’s dominant position in the chip market.
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Tech
Meta launches lawsuits over alleged scam advertising operations
Meta targets scam advertising networks in Brazil, China, and Vietnam, intensifying its crackdown on scams across its platforms.
Meta targets scam advertising networks in Brazil, China, and Vietnam, intensifying its crackdown on scams across its platforms.
Social media giant Meta has launched aggressive legal action targeting alleged scam operations using its platforms. The company has filed lawsuits against four advertising networks based in Brazil, China and Vietnam.
Meta has also issued cease and desist letters to eight marketing consultants accused of helping clients bypass the platform’s enforcement systems. The move signals a tougher stance on organised scam activity operating at scale.
While no criminal charges have been laid, Meta says it is doubling down on efforts to protect users and restore trust across its platforms as scam activity continues to rise globally.
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