Artmarket.com, already positioned on NFTs with Artprice, reacts to an interview on BFM Crypto with Bruno Le Maire and notably his desire to make France "the hub of the crypto-asset ecosystem"

On 17 October 2022, Bruno Le Maire – Minister of Economy, Finance and Industrial and Digital Sovereignty – was interviewed by BFM Crypto on the topic of crypto-assets.

Artmarket.com carefully notes the declaration by the top of the State of the economic potential of the crypto-asset ecosystem, and above all of wanting to make France "the European hub of the crypto-asset ecosystem". Bruno Le Maire declares: "And we want France to be the European hub of the crypto-asset ecosystem."

He also said: “Today, France has some of the most innovative DASPs in the world and can draw on an exceptional concentration of crypto skills, whether scientific, IT, financial, legal or commercial.”

Artmarket.com is fully prepared to contribute to making France a Leader in crypto-assets in Europe and also in the world, in the specific field of Art NFTs, adopted by all historical players in the Art Market.

As World Leader in Art Market Information and a pioneer on the Internet since 1987 with Group Serveur, Artprice by Artmarket (twice designated an “innovative company” by BPI France) has all the advantages, technological know-how, and expertise to give France a place as an international leader in the field of crypto art.

Artmarket.com already has a permanent information feed on daily NFT news in 119 countries, as the world's leading press agency dedicated to the Art Market, NFTs, and Metaverse:

https://www.prnewswire.com/news-releases/artmarketcom-artprice-and-cision-extend-their-alliance-to-119-countries-to-become-the-worlds-leading-press-agency-dedicated-to-the-art-market-nfts-and-the-metaverse-301431845.html

Artprice by Artmarket.com confirms that during the first half of 2022, the Art NFT phenomenon (Jeton Non Fongible in French) became a durable segment of the art market on all continents with acceleration in sales and volumes in the second half of 2022. This acceleration has been triggered primarily by a) the purge of cryptocurrencies and b) the introduction of much more favorable legislation in the USA. Meanwhile, Europe has introduced a regulatory framework that supervises and controls the cryptocurrency environment, thereby giving greater confidence to consumers, investors, and operators.

This regulation is the subject of studies, colloquia, and proposals to major French and European government bodies by the Art & Law Institute, where Artprice by Artmarket has been heavily involved as a long-standing member since 1997.

thierry Ehrmann, founder of Artprice and CEO of Artmarket.com remarks: “in our various annual art market reports and our communications with investors, we have always included NFTs in our studies. And we have always said that one cannot understand this market with exponential growth without understanding the vital importance of Blockchains, cryptocurrencies, and their cultural origin within the Cypherpunk milieu (period of PGP-type data encryption in the early 1990s).”

Indeed, OpenSea USA, the leading NFT platform, itself declares that 80% of the primary issues of Art NFTs are likely to impact the intellectual property rights of third parties. Faced with this observation, Opensea has announced that it is considering solutions to counter this scourge and protect sellers and buyers. There is only one viable solution to this problem: the certification of the primary Art-NFT market by Artprice through its blockchain and its smart contracts.

It is precisely in the primary issue of Art NFTs that Artprice by Artmarket.com is the only one on the world market, taking into account all the underlying parameters and data, to be able to truly meet the certification of primary issues of Art NFTs.

This ability to certify primary issues of Art NFTs is based on the fact that Artprice by Artmarket.com is the World Leader in Art Market Information and author for 25 years of its authoritative databases. These in turn contain the largest documentary collection in the world of notes, manuscripts, and catalogs of auction sales since 1700, guaranteeing in return the authenticity and the historical proof of its databases.

Artprice by Artmarket.com aims to be the most successful and highly competitive Art NFTs platform through its Metaverse, which is the ultimate and inevitable outcome of the NFT revolution.

This Metaverse is the assurance of exponential and continuous growth of the Art Market by NFTs. It will be accompanied by its Blockchain and its smart contracts to allow fair remuneration for artists, with copyright societies such as ADAGP, of which Artprice has long been one of the main contributors, under the legal provisions of reproduction, for the support of artists.

The Minister of the Economy adds "In the immediate future, I am delighted with the transition from Ethereum to proof of stake, which consumes much less energy. "

This is in line with Artprice by Artmarket.com's Blockchain, which will mainly use Ethereum for its smart contracts, as announced in its recent press release, following the transition from "Proof of Work" (PoW) to "Proof of Stake” of Ethereum 2.0 on September 15, 2022:

https://www.prnewswire.com/news-releases/artmarketcom-with-a-99-95-reduction-in-energy-consumption-the-merge-is-a-historic-and-ecological-success-for-ethereum-the-reference-cryptocurrency-for-artprice-and-for-the-art-nft-market-301625211.html

Indeed, Artmarket.com has been following very closely for the last 3 years the transition to "The Merge" for the decarbonized Blockchain Ethereum 2.0, in the context of the global energy crisis, which is only just beginning. According to its Founder Vitalik Buterin, thanks to "The Merge", after 7 years of development and successful beta tests), the electricity consumption of the Blockchain ETH collapses by more than 99.95%, going from "Proof of Work” (PoW) to the “Proof of Stake” (PoS).

The fact that Artprice anticipated three years earlier the Blockchain Ethereum and its smart contract as the reference in the Art Market for NFTs, is further reinforced by the official dispatch from Christie's on September 27, 2022, with the launch announced of Christie's 3.0 which is based on the Blockchain Ethereum.

According to an Artprice study:

“All Market Makers in the Art Market and in particular the majority of Auction Houses worldwide now have an NFT department for cataloged and online sales throughout the year. Similarly, all the major structures in the museum industry and art galleries are starting to publish their own NFTs.

Digital Art created in the 1980s is finally making its real revolution by impacting nearly half a billion Art NFT enthusiasts, at purchasing costs that are now very accessible.

There are already more than 54,000 artists identified by Artprice who directly produce their NFTs for their buying public and this is only the very beginning of this paradigm shift.

It is a major event that definitively modifies the structure of the Art Market and its actors, as known since 1950 according to sociologists, art historians, and analysts. This is also confirmed by the various departments of Artprice, particularly concerning the figures.“

https://www.actusnews.com/fr/artmarket/cp/2022/09/29/artmarket_com-rapport-financier-s1-2022-les-capitaux-propres-depassent-les-30m-eur-rn-en-progression-record-ca-s1-mise-en-place

Artmarket.com will contribute to giving France and Europe a chance to counterbalance the Anglo-Saxon hegemony in the field of crypto-assets. It will expose to the Minister of Economy, Finance, and Industrial and Digital sovereignty, the unique capabilities of Artprice by Artmarket.com, the World leader in Art Market information for 25 years, in certification of primary issuance in the field of Art NFTs and crypto Art more generally.

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Artmarket is a global player in the Art Market with, among other structures, its Artprice department, world leader in the accumulation, management and exploitation of historical and current art market information in databanks containing over 30 million indices and auction results, covering more than 793,000 artists.

Artprice by Artmarket, the world leader in information on the art market, has set itself the ambition through its Global Standardized Marketplace to be the world's leading Fine Art NFT platform.

Artprice Images® allows unlimited access to the largest Art Market image bank in the world: no less than 180 million digital images of photographs or engraved reproductions of artworks from 1700 to the present day, commented by our art historians.

Artmarket with its Artprice department accumulates data on a permanent basis from 6300 Auction Houses and produces key Art Market information for the main press and media agencies (7,200 publications). Its 5.4 million (‘members log in'+social media) users have access to ads posted by other members, a network that today represents the leading Global Standardized Marketplace® to buy and sell artworks at a fixed or bid price (auctions regulated by paragraphs 2 and 3 of Article L 321.3 of France's Commercial Code).

Artmarket with its Artprice department, has been awarded the State label “Innovative Company” by the Public Investment Bank (BPI) (for the second time in November 2018 for a new period of 3 years) which is supporting the company in its project to consolidate its position as a global player in the market art.

Artprice releases its 2022 Ultra-Contemporary Art Market Report:
https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2022

The Artprice 2022 half-year report: the art market returns to strong growth in the West:
https://www.artprice.com/artprice-reports/global-art-market-in-h1-2022-by-artprice-com

Artprice by Artmarket's 2020 Global Art Market Report published in March 2022:
https://www.artprice.com/artprice-reports/the-art-market-in-2021

Artprice's 2020/21 Contemporary Art Market Report by Artmarket.com:
https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2021

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