PARIS, Oct. 1 /PRNewswire/
As announced in our previous press release dated September 12, “Artmarket.com Adds Ethereum and Bitcoin to Its Multi-Currency Artprice Databases to Meet Customer Needs and Prepare for the Web 3.0 Future“
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Ethereum 2.0, TheMerge. Artprice by ArtMarket.com
In the context of a severe global energy crisis (which is probably just beginning), Artmarket.com has been closely following the transition to a completely carbon-free blockchain. This is now a reality with Ethereum 2.0 after “The Merge”. According to founder Vitalik Buterin, “The Merge” – a shift from “Proof-of-Work” (PoW) to “Proof-of-Stake” (PoS) – following 7 years of development and successful beta tests will reduce power consumption by more than 99.95% (source: https://ethereum.foundation/).
Even before the switch was implemented, Ethereum (ETH) managed to attract the interest of Web 2 giant Google, whose Web 3 team, motivated by Ethereum’s initiative, rushed to publish a doodle with a countdown to “The Merge”. Google represents a great victory for cryptocurrency and a veritable “knight’s award” for Ethereum 2.0.
In a global context where concerns about what can be called the “energy war” and about global warming are reaching hugely inflated levels, this news is absolutely essential. As a result of this initiative, Norway’s Central Bank – a country where environmental concerns are top priority – announced to base its MNBC (the central bank’s digital currency) on Ethereum, while Bank of America now sees Ethereum as a solid investment and refers to it as the “green giant” .
The art market can only benefit from “The Merge” The French newspaper Le Parisien quotes Joe Lubin, co-founder of Ethereum: “[…] Many digital artists and art collectors have been hesitant to acquire digital artworks associated with the burning of so much fossil fuel… With this transition, these concerns will subside and interesting projects will jump right into the production of the very first Chain Blocks after The Merge starts. It will release an enormous amount of creative energy.”
Lubin adds: “It won’t directly affect Russian gas or oil prices, but it will send a strong message to the world if we replace very energy-intensive mining with a structure that uses the electricity it takes to make a cup of coffee. It’s a profound change that will happen as simply as an automatic smartphone update.”
So Artmarket.com expects exponential growth in artistic creation and specifically in the art NFT market. A number of well-known artists have already turned to art NFTs, as have a number of major art museums. Over the past year, Artmarket.com has expressed its preference for the Ethereum 2.0 blockchain, especially during the general meeting and in the various financial press releases, and has invested all its IT and human resources in confirming its success with NFTs and Metaverse – the backbone of Web 3.0. The world-renowned Museum of Modern Art (MoMA) is considering an upcoming sale of works of art via Sotheby’s for approximately $70 million, with an option to invest the proceeds from those sales to purchase NFTs. This has been advised by a team of experts tasked with following the NFT markets and finding the most promising performers there.
CEO and founder of Artprice by Artmarket, Thierry Ehrmann explains: “In cryptocurrency history, The Merge on September 15, 2022 represents an irrevocable foundation date for Web 3.0 and art NFTs and may well trigger a ‘flipping’ where Ethereum overtakes Bitcoin in terms of market cap in the coming months.”
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Artmarket and its Artprice division were founded in 1997 by their CEO Thierry Ehrmann. Artmarket and its Artprice division are controlled by Groupe Serveur (established in 1987).
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Artmarket is a global player in the art market; the company has, among other structures, the Artprice division, which is one of the world leaders in the collection, management and exploitation of historical and contemporary information on the art market in databases containing over 30 million indexes and auction results of more than 787,000 artists.
Artprice by Artmarket, the world’s leading provider of art market information, aims to become the world’s leading NFT platform for art with its Global Standardized Marketplace.
Artprice Images® provides unlimited access to the world’s largest image database on the art market. It contains no less than 180 million digital images and photographs or etched reproductions of works of art from the 18th century to the present, annotated by our art historians.
Artmarket, through its Artprice division, continuously collects data from 6300 auction houses and generates key market information for the main press and media agencies (7200 publications). Its 5.4 million “authorized members” have access to advertisements posted by other members online and access to a network (Global Standardized Marketplace®), now the world’s leading standardized marketplace for buying and selling works of art (fixed price or bid) The auctions are subject to paragraphs 2 and 3 of article L 321.3 of the French Commercial Code.
In November 2018, Artmarket (and its Artprice division) was awarded the quality label “Innovative Company” for the second time in another 3 years, awarded by the French Banque Publique d’Investissement (BPI); BPI supports the company and its project to strengthen its position as a global player on the art market.
Artprice 2022 semi-annual report: The art market returns to strong growth in the West:
Artprice by Artmarket Global Art Market Annual Report 2020, published March 2022:
Contemporary Art Market Report 2020/21 by Artprice & Artmarket.com:
Index of press releases published online by Artmarket and its Artprice division:
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Discover the magical world of Artmarket and its Artprice department https://www.artprice.com/video, based on the famous Organe Contemporary Art Museum “The Abode of Chaos” (dixit The New York Times): https:/ /issuu. com/demeureduchaos/docs/demeureduchaos-abodeofchaos-opus-ix-1999-2013
· L’Obs – Museum of the Future: https://youtu.be/29LXBPJrs-o
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