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.”
ChatGPT should not be used to look up medication, pharmacists say
There’s concern about the way people are using ChatGPT to source information surrounding medication.
Pharmacists at Long Island University posed 39 drug-related questions to OpenAI’s free chatbot — with only 10 of the responses deemed “satisfactory”.
This means ChatGPT flubbed 75% of questions about prescription drug usage.
For the other 29 questions, the responses either did not directly address the question, were inaccurate or incomplete.
The researchers asked ChatGPT to provide references with each of its responses for verification purposes.
But only eight of 39 replies included references.
OPenAI does warn users that its technology isn’t fine-tuned enough to give accurate medical advice.
Huge reveal from gaming company Rockstar shows GTA VI
Rockstar Games surprises fans with an early release of the Grand Theft Auto VI trailer following an online leak.
In a stunning reveal, the highly anticipated “Grand Theft Auto VI” trailer has finally hit the gaming community, and it’s not holding back on the mayhem. Rockstar Games, known for pushing boundaries, seems to have outdone itself this time, showcasing a virtual world teeming with criminal escapades and high-stakes action.
Rockstar embraced a leak and unveiled the official trailer ahead of schedule. Fans are speculating on new features and plot twists, creating a buzz on social media.
Now, the gaming community eagerly dissects every frame of the trailer, searching for additional details beyond the leaked material.
The trailer opens with a breathtaking skyline of the fictional metropolis, setting the stage for a narrative that promises to be as immersive as it is controversial. From high-speed car chases to pulse-pounding shootouts, the snippets offer a glimpse into the sheer scale and detail the developers have poured into the latest installment. Fans are already dissecting every frame, eagerly speculating on the storyline and characters that will drive this blockbuster game.
Google’s AI bot faces delay
Google has decided to delay the launch of its highly-anticipated conversational AI bot, codenamed ‘Gemini,’ until January.
Originally scheduled for release in December, the postponement comes as the tech giant strives for perfection in its new AI creation.
The decision to delay ‘Gemini’ is reportedly due to the need for additional testing and fine-tuning of the AI’s conversational abilities.
Google aims to ensure that ‘Gemini’ offers a seamless and engaging user experience, and the extra time will be dedicated to achieving this goal. #featured
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