Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Tech

World First: how to own shares in a Picasso masterpiece

Published

on

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.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Tech

Ramifications of a TikTok ban to impact Open Internet

Published

on

The United States’ longstanding advocacy for an open internet faces a critical juncture as Congress considers legislation targeting TikTok.

The proposed measures, including a forced sale or outright ban of TikTok, have sparked concerns among digital rights advocates and global observers about the implications for internet freedom and international norms.

For decades, the U.S. has championed the concept of an unregulated internet, advocating for the free flow of digital data across borders.

However, the move against TikTok, a platform with 170 million U.S. users, has raised questions about the consistency of America’s stance on internet governance.

Read more – Big tech to handover misinformation data

Critics fear that actions against TikTok could set a precedent for other countries to justify their own internet censorship measures.

Russian blogger Aleksandr Gorbunov warned that Russia could use the U.S. decision to justify further restrictions on platforms like YouTube.

Similarly, Indian lawyer Mishi Choudhary expressed concerns that a U.S. ban on TikTok would embolden the Indian government to impose additional crackdowns on internet freedoms.

Moreover, the proposed legislation could complicate U.S. efforts to advocate for an internet governed by international organizations rather than individual countries.

China, in particular, has promoted a vision of internet sovereignty, advocating for greater national control over online content.

A TikTok ban could undermine America’s credibility in urging other countries to embrace a more open internet governed by global standards.

 

Continue Reading

Tech

BlackRock CEO Larry Fink says AI leads to higher wages

Published

on

Larry Fink, the CEO of BlackRock Inc., has outlined his vision for the impact of the firm’s investment in artificial intelligence.

During the company’s recent earnings call, Fink emphasized the connection between productivity gains driven by AI and the potential for rising wages among BlackRock’s workforce.

He explained the firm’s ambition to leverage AI technology to enhance efficiency, enabling employees to accomplish more with fewer resources.

Fink’s remarks underscore BlackRock’s strategic approach to harnessing AI as a tool for optimising operations and driving organisational growth.

Read more – Australia’s productivity gap widens

By leveraging AI-driven productivity enhancements, the company aims to empower its employees to deliver greater value, thereby paving the way for wage increases across the organisation.

The CEO’s statement reflects a broader trend in the intersection of technology and labor dynamics, where advancements in AI and automation have the potential to reshape workforce dynamics and compensation structures.

Fink’s optimism about the transformative impact of AI investment on employee wages highlights BlackRock’s commitment to embracing technological innovation as a catalyst for sustainable business growth and employee prosperity.

Continue Reading

Tech

How Udio could threaten the entire music industry

Published

on

The music industry faces a formidable challenger in the form of AI technology application Udio.

With the emergence of a groundbreaking new app, concerns are mounting over its potential to revolutionise music creation and consumption.

The app, powered by advanced algorithms and machine learning, promises to streamline the music production process, allowing users to generate high-quality tracks with minimal effort.

Tom Finnigan from Talkingbrands.ai joins to discuss Udio, along with the goods and bads of AI integration in the music industry.

Continue Reading
Live Watch Ticker News Live
Advertisement

Trending Now

Copyright © 2024 The Ticker Company