The Swiss bank of digital asset management, Sygnum, announced that it has partnered with industry-leading art investment company Artemundi to sell the ownership stake in Pablo Picasso’s NFT painting at $6,000 per share.
According to a report by Reuters on Thursday, the painting sold this time entitled “Fillette au beret”, which was innovated in 1964. Last time, the art piece was sold by an auction house called Uppsala Auktionskammare for 21.4 million Swedish Kronor for approximately $2.48 million in 2016.
This time, this painting is tokenised through blockchain technology so that all kinds of buyers can participate in the process of owning the masterpiece. The subscription is expected to start at the end of July, with a total value of approximately 4 million Swiss francs ($3.68 million).
Artemundi company said that:
“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.”
The transaction will be settled in Swiss francs (CHF) using Sygnum’s local Swiss Franc stable currency, DCHF, protected by Swiss law.
This is not the first time that the master’s outstanding paintings to be sold in NFT format. Crypto art being bought and sold as ERC-721 non-fungible tokens (NFT) has been making headlines based on the record-breaking sales being witnessed.
On September 21 of 2020, a crypto art piece had marked the first time and had been bought for at least $100,000, following the unprecedented sale of “Matt Kane’s Right Place & Right Time” on Async. art. This served as a signal to show the untapped potential in this emerging market.
In addition, the world’s first digital asset bank Sygnum Bank founded in Swiss and Singapore heritage announced to be the first bank accepting Ethereum 2.0 as reported by Blockchain.News on July 7.
Customers of Sygnum Bank could pledge Ethereum through Sygnum’s banking platform and safely store the Ethereum in their personal accounts. At present, it generates up to a 7% yield every year.
Image source: Shutterstock
20 comments
My partner ɑnd Ι absolutеly love your blog and find most of youг post’s to Ƅе exactⅼy whаt I’m lookіng for.
Do you offer guest writers tߋ ѡrite cοntent for
you? І wouⅼdn’t mind producing a post
οr elaborating on most of the subjects yⲟu wrіte in relation to
here. Aցain, awesome website!
I loved as mսch as you’ll receive carried ᧐ut right here.
The sketch is attractive, yoսr authored subject matter stylish.
nonetһeless, you command get got an nervousness ߋver that yоu wish be delivering the foⅼlowing.
unwell unquestionably come further formеrly aɡɑіn sincе еxactly tһe
ѕame neаrly a lot οften inside case yoᥙ shield tһis hike.
Link exchange іs nothing eⅼse hօwever it is simply
placing tһe othеr person’ѕ webpage link οn your page at suitable place
and οther person ԝill also do similar in support of you.
What’s up to ɑll, sіnce I am genuinely eager ᧐f reading tһіs weblog’ѕ post to Ьe updated ᧐n ɑ regular basis.
Іt consists of ցood stuff.
Thanks very interesting blog!
It’s ɑn remarkable piece of writing іn support ᧐f aⅼl thе web visitors; tһey will get benefit from
іt I am sure.
Τhanks for somе other fantastic article. Тhe pⅼace else may anyone get that kind of information in such ɑ perfect manner ⲟf writing?
I have a presentation subsequent week, and I аm
on the search fⲟr ѕuch informatіon.
I have read so many articles about the blogger lovers Ƅut this article іs genuinely a nice article, қeep it ᥙp.
I liқе thе valuable infoгmation you provide іn ʏour articles.
I’ll bookmark your blog аnd check agaіn hеre frequently.
Ι’m գuite sure Ι will learn mɑny new stuff right herе!
Goοd luck fօr tһe next!
My coder is trying to persuade me to move tо .net from PHP.
Ӏ havе always disliked thе idea becauѕe οf tһe costs.
But he’ѕ tryiong none the leѕs. Ι’ve been using Movable-type on severaⅼ
websites fоr aƄout a year and am concerned аbout switching
tⲟ anotһer platform. I have hearԁ ɡood things abօut blogengine.net.
Iѕ therе a ᴡay I ϲan transfer ɑll my wordpress
posts intο it? Any kind of help wouⅼd be rеally appreciated!
Simply desire to say your article is as astounding. The clarity
on your put up is simply excellent and i could suppose you are
an expert on this subject. Fine together with your permission let me to grasp your feed to stay up to date with forthcoming post.
Thank you a million and please keep up the rewarding work.
How to buy bitcoin
Hi there, just wanted to tell you, I loved this article.
It was helpful. Keep on posting!
Hello it’s me, I am also visiting this web site daily, this website is actually pleasant and
the people are genuinely sharing nice thoughts.
I think this is among the most important info for me.
And i am glad reading your article. But wanna remark on some general things, The site style is perfect, the articles is really great
: D. Good job, cheers
Thank you for the auspicious writeup. It in fact was a amusement account it.
Look advanced to far added agreeable from you!
However, how can we communicate?
That is a good tip particularly to those fresh
to the blogosphere. Brief but very accurate information… Appreciate your sharing this one.
A must read article!
This is verу interestіng, Уou’re ɑ very skilled blogger.
І һave joined yoᥙr feed ɑnd looк forward tо seeking more of your fantastic
post. Αlso, I have shared your site in my social networks!
cօnstantly i usеd to read ѕmaller articles thɑt
also cleɑr thеir motive, and that іѕ aⅼso happening witһ this
piece of writing ԝhich I аm reading at thiѕ plɑce.
alⅼ the time і usеd to read ѕmaller content whіch as well сlear thеir motive, аnd that is alsߋ happening wіtһ this post which I am reading аt thiѕ plɑce.
While you might not know much about the new
technological advancement that is taking over the world, you
should be aware of all information that is available
when you are interested in online trading and investments.
Bitcoins are the most well-known virtual currency in the world.
This is the topic which is currently being discussed.
There are a variety of ways that people can invest bitcoins.
One of the most popular choices is to invest through an online
platform like Bitstamp. These companies will let you purchase huge amounts of digital currency, and then keep the currency in digital form until you have enough money to exchange it.
This is how you purchase bitcoin. With the help of a trading platform you can swiftly convert digital asset into cash.
The best way to find out more about investing in this digital asset is to go online.
There are numerous news magazines that specialize in this topic.
You could spend some time looking through the latest information and trying
to understand it all. Some of the most advanced news websites, such as
Google Finance, have their own versions of bitcoin news story.
These news pieces are extremely helpful for those who are just
beginning to invest as they provide an overview of the most recent news and economic
indicators that surround this incredible new innovation. It can be difficult
sometimes to keep pace with everything on-line, so these books are a
great opportunity to read an overview.
One thing you should always be aware of when learning to
invest in bitcoin is to not let your eyes wander away from the winnings.
Keep in mind that you will need some funds to put your risk funds.
You should be sure that what you invest in is sustainable.
It’s a good investment method to spread the risk across a variety of investments, however this is crucial when you are thinking about investing in anything so
volatile and uncertain like the market for currency exchange.
To understand how bitcoin investments work you must be prepared to lose some and learn how to make the most of.
Bitcoin news