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Artmarket.com: higher Q4 2023 revenue and the connection of its inductive learning proprietary AI tool (Intuitive Artmarket ®) to its databases and its Standardized Marketplace for the certification of primary issues of NFTs

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artmarket.com:-higher-q4-2023-revenue-and-the-connection-of-its-inductive-learning-proprietary-ai-tool-(intuitive-artmarket-)-to-its-databases-and-its-standardized-marketplace-for-the-certification-of-primary-issues-of-nfts

Upcoming news concerning Artprice by Artmarket.com in 2024

PARIS, Feb. 13, 2024 /PRNewswire/ — Artificial Intelligence with Gemini Pro, Chat GPT-5, Art NFTs as seen by Arte TV, Bitcoin ($50 K) and Ethereum, all growing rapidly and all welcome on Artprice.

 

"Ghost Ship" © NFT sculpture and algorithm by thierry Ehrmann - Courtesy of Organe Museum / Abode of Chaos / La Demeure du Chaos

 

Artprice is about to introduce its own Intuitive Artmarket ® AI to the Art Market.

Over recent decades, Artprice by Artmarket.com – with its long experience as a pioneer of the Internet since 1987 under its parent company Groupe Serveur – has developed thousands of increasingly powerful and useful proprietary algorithms that have become the foundation of our own artificial intelligence, in strict compliance with all of the various legislative frameworks, notably those regarding personal data protection and intellectual property rights.

The three cornerstones of AI are data, computing power and algorithms. The greater the volume and the higher the quality of the data (standardized big data), the more ‘intelligent’ the models they are used to train become. This process corresponds exactly to the core DNA of Artprice by Artmarket’s operating model which masters both the computer science of programming and the computer science of induction which defines AI.

Our progress in the field of AI was substantially accelerated by our targeted acquisition (initially by Groupe Serveur, then by Artprice) of innovative companies like Xylologic (in 1999) a Swiss company of prestigious scientists (from CERN, WHO, etc.) that was considerably ahead of its time and which already prefigured the birth and development of AI (see our reference document).

A rare occurrence for a company listed on a regulated market, Artprice by Artmarket has twice consecutively obtained the state label “Innovative Company”, subject to strict eligibility conditions, awarded by France’s Public Investment Bank (BPI).

According to thierry Ehrmann, founder of Artprice and CEO of Artmarket.com: “With its proprietary AI – baptized “Intuitive Artmarket ®” – in 2024 Artprice by Artmarket will be able to take each of its 7.2 million customers and members on superb customized journeys of art discovery with lightning speed

In the cozy world of major global professional database publishers, it is vital for the long-term development of our industry that we integrate proprietary AI into our core businesses, which is why Artprice by Armarket has acquired a substantial headstart in this domain since 1999 and made 2024 the key year for its Intuitive Artmarket ®. In economic terms, this tool will generate more sophisticated subscription options and therefore more recurring turnover (ARR).

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Investors are looking for serious investment opportunities in the field of AI on both sides of the Atlantic.

Our algorithms and billions of proprietary logs along with our texts and tens of millions of artworks from the Artprice databases allow us to identify all the terminology that qualify artists’ universes, their inspiration, the mediums they use, their themes, their shapes and volumes, etc… and then create a syntony by opening up the worlds of the 833,000 artists we follow with their biographies and certified data, going far beyond classic academic visual criteria via the neural networks of our Intuitive Artmarket ® AI.”

Intuitive Artmarket ® will notably calculate the values of artworks based on an analysis of past sales that is specific to Artprice; but it will also be able to anticipate future fluctuations, including for totally unique works. It will also make it possible to identify highly complex transversal artistic trends that largely escape the academic, institutional and university worlds.

Our Intuitive Artmarket® AI will have numerous applications within the scope of Artprice by Artmarket, all offering high-added value and featuring numerous paid services.

Of the many new service projects in 2024 for Artmarket’s clients, we plan to link Intuitive Artmarket® with our Standardized Marketplace® which was created in 2005 and offers over 77,000 artworks at a fixed or biddable price. We also plan to link our Intuitive Artmarket® to all of Artprice by Artmarket’s databases.

Intuitive Artmarket® will constantly assist Artmarket clients – whether art enthusiasts, art market professionals or museum curators – to build and/or manage their collections.

With the analysis of billions of logs, 125 million clipped and tokenized images of artworks, more than ten million auction results (word embedding), Intuitive Artmarket® will be able to provide extremely relevant solutions for customers wishing to start, or manage, an art collection.

To build the collection, Intuitive Artmarket® will provide suggestions for works to acquire based on criteria the client has provided such as the budget allocated over time, the artistic movement(s) the customer is interested in, the preferred medium(s), the favorite artist(s) or similar artists, the preferred dimensions of the works, the favorite acquisition location(s) (in full compliance with the different legislative frameworks on personal data security). It will also be able to identify from the behavioral analysis of the client’s searches certain preferences that neither the client nor an appointed expert might have been aware of. It goes without saying that this analysis via Intuitive Artmarket® will be conducted with the consent of the client as part of his/her paid subscription (in accordance with the terms and conditions enumerated in the General Conditions of Sale and Use attached to his or her subscription).

As regards collection management, Intuitive Artmarket® will update the value of the collection in real-time, not only by taking into account the latest auction results but also by projecting trends with expected results, built on in-depth data analysis.

Intuitive Artmarket® will notify the collector and/or art market professional of sale and/or purchase opportunities, depending on the objectives identified by the collector or the professional over time. These may range from the desire to enhance the pecuniary value of a portfolio to the desire to enhance the artistic value of a collection; everything will be possible via an intuitive configuration.

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Contemporary artists will also be able to use this tool to offer their works for sale on our Standardized Marketplace® with higher probabilities of reaching buyers, particularly artists producing NFTs. Bearing in mind all the underlying parameters and data, Artprice is the only platform on the global market that can deal effectively with the certification of primary issues of Art NFTs in an environment of cryptocurrencies alongside the major international currencies.

With Intuitive Artmarket®, it has never been so easy and intuitive to discover the parallel worlds of ‘Online Art’ and ‘Auction House Art’ (we are directly linked to 7,200 auction operators around the world).

In today’s extraordinarily busy world, every minute counts and Intuitive Artmarket® will allow users to explore the Standardized Marketplace® and monitor the global art market with infinitely better results and much more quickly. Less time spent also means less energy spent, which is perfectly in line with Artmarket.com’s eco-responsible approach.

Artificial Intelligence has opened the door to a deluge of IP conflicts such as the legal dispute surrounding Stability AI, the creator of an AI generating synthetic photos, now accused by Getty Images of having extracted millions of images from Getty Images databanks.

ChatGPT is regularly the subject of professional news media headlines like Is ChatGPT violating copyrights?”… to which the vast majority of lawyers respond that it is nothing more and nothing less than a veritable copyright pillage – and therefore a massive copyright violation engine – which makes OpenAI, for its part, an outright counterfeiter.

And then there is the historic initiative by the Authors Guild, the largest professional association of American writers, which, according to Rolling Stone magazine, filed a class action on 20 September 2023 in a New York Supreme Court against the company Open AI (creator of ChatGPT), accusing it of ‘feeding’ or ‘training’ its large language model (LLM) with their copyright-protected works. Authors Guild President, Maya Shanbhag Lang said, “This is just the beginning… We do not bring this suit lightly. We are here to fight.”

In contrast, Artmarket’s AI (Intuitive Artmarket ®) is based exclusively on its massive proprietary content which is protected under intellectual property law, thereby allowing us to overcome these obstacles and potential prohibitions. In other words, our Intuitive Artmarket ® has no need to look elsewhere for data or for responses to very specific searches from art market amateurs or professionals.

This fact will underpin and generate constant growth in our turnover and guarantee the sustainability of our model, which, in turn, will generate considerable upside potential and peace of mind for Artprice by Artmarket.com’s shareholders. Over the last two decades Artprice has recorded, observed and induced hundreds of millions of human decisions in relation to the art market. This market is of course infinitely complex due to the heterogeneous and singular nature of art on the other hand, and the abstract notion of beauty at the limits of human emotion on the other.

The algorithmic learning that has fueled our AI has allowed Artprice to create AI models that are unique to the specific world of the Art Market and which constitute Artprice by Artmarket’s strongest revenue-generating power.

For over 20 years, Artprice by Artmarket has gradually stabilized its ‘alignment problem’, a key issue for the successful genesis then construction of its AI (Intuitive Artmarket®). For the Artprice group, the so-called ‘alignment problem’ means all of the scientific and ethical questions raised by the relationship of its artificial intelligence system (and its induced results) with the values, expectations and human sensitivities specific to the Artprice by Artmarket group, its clients and the intangible and centuries-old rules of the art market.

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Artmarket’s AI (Intuitive Artmarket ®) will be supervised by ‘prompt engineers’, a new career that includes the programming and management of proprietary AI.

The possibilities offered by properly managed AI are therefore immense, which explains its popularity: Microsoft ® Bing Chat now attracts more than 100 million active users per day with a commitment to responsible AI that respects copyright and copyright-related rights.

Microsoft has already started rolling out Bing Chat for Business and Microsoft Copilot in paid subscription mode.

Microsoft’s Copilot® works with GPT-4 Turbo, the new DALL-E 3 model, and is now Microsoft’s spearhead service at the heart of its 365 Business Premium and Business Standard licenses. Indeed, Microsoft has clearly demonstrated that its AI Copilot® is a very powerful accelerator of its sales of ‘365’ subscriptions to its cloud, thereby confirming the viability of this AI economic model for Artprice and its Intuitive Artmarket®.

Via thousands of beta test searches on the art market and on artists, Artprice by Artmarket.com has observed that Bing IA GPT-4 regularly cited Artprice and Artmarket.com URLs in reference to its sources. Microsoft® Bing works in partnership with OpenAI to deliver an experience that encourages responsible use. Likewise, Chat GPT-4 Pro is in paid mode on Apple iOS and Android.

For reference, one of the best-known neural networks is the Google search algorithm that Artprice has studied and analyzed daily since 1999. Since the beginning of 2023, Artprice Inc., our American subsidiary, has been following the development of Google Bard and notably since the release on 8 February 2024 of its Gemini Pro AI with its Ultra 1.0 interface, a direct competitor to GPT-4.  Gemini is a prototype chatbot (an experimental conversational AI service) built by Google based on its LaMDA language model. Here too, Artprice engineers measured the searches on Google Bard and Gemini specific to the art market and noted a high volume of responses relative to links to Artprice databases.

One of the G7’s major concerns is the rapid adoption of regulations on AI.

Europe, and particularly France, wants to make the European continent one of the world leaders in AI, and it is interesting to note that the first texts regulating artificial intelligence are currently being passed into law.

“The Council of the European Union approves a text to regulate artificial intelligence”

On Friday 2 February 2024, representatives of EU member states approved new legislation on artificial intelligence. Once voted by the European Parliament, this legislation will constitute a global first. Artprice by Artmarket has participated in the debates that have contributed to this legislation via its lawyers and advisors. This new legislation establishes specific constraints, notably regarding personal data, as well as copyright protection and thorough source quotation.

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Initially drafted in 2021, the first version of the text had to be completely overhauled because of the evolution of artificial intelligence in recent years.

The European project to regulate artificial intelligence (AI) reached a new milestone on Friday, 2 February 2024. “Today the 27 Member States unanimously approved the political agreement concluded in December recognizing the balance found by the negotiators between innovation and security”, announced the European Commissioner for the Internal Market, Thierry Breton, on X. The negotiators of the European Parliament and the Council, co-legislators, had reached an agreement in principle on 8 December 2023.

The regulation, called the “AI Act”, aims to regulate both the use and the development of artificial intelligence. It is the first such legislative framework in the world. According to a press release from the European Parliament in December 2023, the text “aims to ensure that fundamental rights, democracy, the rule of law and ecological sustainability are protected against high-risk AI, while boosting innovation and making Europe a leader in the field”.

Certain uses of these new technologies will be prohibited, such as social rating and behavior manipulation. The most risky practices will have to meet reinforced requirements, such as an obligation of transparency or the implementation of human control over the software.

These various provisions and amendments are very positive for Artprice by Artmarket.

According to the best Anglo-Saxon financial analysts, who are one step ahead of Europe on this subject, the only economically viable model –  i.e. one that does not expose the economic entity (whatever its size) to incessant legal proceedings – is an AI-based on an extremely well-defined economic segment.

The economic segment must have information that plays an absolutely vital role, full intellectual property of the entirety of Big Data (including Data Mining), of the copyright and related rights confirmed on all algorithms, databases, with machine learning (deep learning) and neural networks.

In short, the AIs that will triumph with very substantial economic gain and without major industrial or legal risk, are the economic entities that own, in full intellectual property, all of the different stages of the proprietary AI in a defined market segment where expensive high added-value information plays a vital role. And this is exactly the case of the Intuitive Artmarket ® AI developed by Artprice by Artmarket.com

Our Intuitive Artmarket ® AI has been designed in total recognition of this reality.

The following paragraph was largely generated by our Intuitive Artmarket ® AI system

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According to thierry Ehrmann, a pioneer of the Internet and databanks since 1987 with his Groupe Serveur, parent company of Artprice (Who’s Who In France biography: https://imgpublic.artprice.com/img/wp/sites/11/2024/02/2024_Biographie_thierry_Ehrmann_WhosWhoInFrance.pdf), and Founder of Artprice & CEO of Artmarket, the Group’s guiding principle for its AI is very simple: “There cannot be artificial intelligence without human intelligence”.

The certification by Artprice of NFT primary issues

Release of the ARTE documentary in 5 languages: “NFT, Chaos in the art world

https://www.arte.tv/fr/videos/RC-024624/nft-chaos-dans-le-monde-de-l-art/

Throughout this documentary, thierry Ehrmann, visual artist, NFT artist and Founding CEO of Artprice.com, delivers his analysis accompanied by other artists, experts and international players in the world of Art NFTs.

Any attempt to understand the significance of NFTs in Art History requires an appreciation of the digital and cultural revolution that they represent and some kind of prediction regarding their role and impact over the short and medium term.

Artprice by Artmarket.com can confirm that for the first half of 2024, the Art NFT phenomenon is becoming a lasting segment of the art market on all continents, with new legislation that is currently much more favorable in the USA. Meanwhile, European lawmakers are working on a regulatory framework that will prevent cryptocurrencies being used for money laundering and bring confidence to consumers, investors and operators.

This framework has been the subject of studies, conferences and proposals to major French and European government bodies by the Art & Law Institute with which Artprice by Artmarket has been heavily involved as a historical member since 1997.

According to thierry Ehrmann “In its various annual reports on the Art Market and the regulated information it publishes as a listed company, Artprice by Artmarket.com has always said with regard to NFTs that it is impossible to apprehend this new market without a true understanding of Blockchain, crypto-currencies and their cultural origins among the Cypherpunks (period of PGP-type data encryption at the beginning of the 1990s).”

Indeed, OpenSea, the leading NFT platform, itself declared that 80% of primary issues of Art NFTs are likely to impact third-party intellectual property rights. Faced with this observation, Opensea announced it is considering solutions to counter this problem and thereby protect sellers and buyers. This can only lead to the certification of the primary issue market by Artprice.

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Bearing in mind all the underlying parameters and data required, Artprice by Artmarket is the only organization on the global art market to be able to truly respond to the certification of primary issues of Art NFTs in an environment of cryptocurrencies and major international currencies.

This capacity to certify the primary issues of Art NFTs is based on the fact that Artprice by Artmarket has been the Global Leader in Art Market Information for more than 27 years and is the creator and owner of its globally recognized databases. It also has the world’s largest documentary collection of art market notes, manuscripts, codices and annotated sales catalogs from 1700 to the present day, which act as a guarantee of the authenticity and historical veracity of its databases.

More precisely, we cannot allow the offer of an artwork or of an Art NFT to be posted online without validation of the identity of the artist and of the professional seller, via a very strict and draconian control procedure. In the context of the sale of NFTs, this is all the more important as there is a certain laxity at this level, which has led to numerous problems on other sites.

The added value of Artprice by Artmarket is quite simply its knowledge of the artists, either through their previous auction results or through their emerging notoriety. In addition, an Artprice Intranet messaging system is made available to buyers and sellers, so that they can agree on their transaction in a confidential and consensual manner.

With its Metaverse – the ultimate and inevitable outcome of the NFT revolution – Artprice by Artmarket aims to be the most successful and competitive Art NFT platform.

The Metaverse will guarantee the exponential and continued growth of the art market through NFTs. Alongside the Metaverse, there is the Blockchain and its smart contracts to allow fair remuneration for artists, with copyright bodies such as the ADAGP (in France), to which Artprice has long been affiliated in order to support artists.

Three years ago Artprice recognised that Ethereum would become the reference Blockchain for smart contracts in the Art NFT Market. Christie’s 3.0 is also based on the Ethereum Blockchain since 2022.

According to a study conducted by Artprice by Artmarket:

“All of the art market’s market-makers, and in particular the majority of its auction houses around the world, now have an NFT department for cataloged and online sales throughout the year. Likewise, all the major structures in the museum /art gallery industry are starting to publish their own NFTs. The vast majority of the major players in the art market have chosen the Ethereum Blockchain whose smart contract ensures a transparent and tamper-proof market.

Digital Art – first created in the 1980s –  is finally emerging and is appealing to nearly half a billion Art NFT enthusiasts at costs that are now very accessible. The authenticity and traceability of the purchase or sale of Art NFTs is now guaranteed by Blockchain. Samsung TV’s Tizen OS, loaded on several hundred million Smart TVs, offers direct access to the ” NFT Art” application among its automatically installed apps, between Netflix and YouTube.

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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 a total paradigm shift.

According to many sociologists, art historians and analysts, the advent of NFTs is a major event that definitively modifies the structure of the art market and its players as it has been since 1950.

Artmarket.com: after including cryptocurrencies alongside traditional currencies for auction results in 2022, the Artprice Standardized Marketplace® has now integrated Bitcoin and Ethereum for buying and selling artworks

thierry Ehrmann, the CEO of Artprice by Artmarket: “We were patiently waiting for the right moment to launch this key deployment in the history of Artprice by Artmarket in the best conditions for both the art market and for cryptocurrencies. It is now time for us to take the step of deploying our authoritative Standardized Marketplace® and opening it to the world of cryptocurrencies and NFTs, by entering Web 3.0. which is quite simply the immediate future of the Internet. This step would not have been possible without the knowledge and experience of Artprice, which has been the Global Leader in Art Market Information for more than 25 years.

Every day Artprice’s Standardized Marketplace® offers more than 77,000 artworks from all over the world. These works are bought and sold by 7.2 million customers and members of Artprice, generating an annual trading volume estimated at several hundred million euros. This platform demonstrates the trust built over more than 18 years between buyers and sellers. It was therefore natural that after adding cryptocurrencies to the means of payment, Artprice should also endow the platform with a new category/medium, Art NFTs, as a sign of their legitimate entry into Art History and the history of the art market.”

The decision to quote cryptocurrency prices on our Standardized Marketplace® was taken after a long and careful observation of an increasing consultation of auction results in Bitcoin and Ethereum across all of Artprice’s databases since their effective integration into our system in September 2022.

These two main cryptocurrencies (ETH and BTC) account for more than 92% of the total value of the approximately 23,000 currently existing cryptocurrencies (excluding stablecoins).

By analyzing its hundreds of millions of connection logs, Artprice has observed – over 17 months – a regular increase in consultations of the Bitcoin and Ethereum prices in its databanks, which are now, in statistical terms, close to the consultations of the major international reference currencies such as the dollar, the euro, sterling and the yen.

This evolution at Artprice reflects the growing place of cryptocurrencies in the mentalities and habits of art professionals as well as among collectors and art enthusiasts.

But the major event in cryptocurrencies is notably BlackRock’s (the largest asset manager in the world) and Fidelity’s introduction of ETFs directly invested in Bitcoin (Bitcoin spot ETFs) authorized by the SEC on 11 January 2024. This is a real consecration for Bitcoin which on 9 February 2024 was quoted at around 49,000 dollars, while Ethereum was at $2,500 (ETH ETFs are expected very soon).

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BlackRock and Fidelity have achieved the best ETF launches in 30 years thanks to Bitcoin. In their first month of trading, the “IBIT” and “FBTC” funds raised $6.5 billion, which is more than any of the 5,500 other index funds launched before them (according to Les Échos of 10 January 2024: “Bitcoin ETF: the SEC opens the doors of Wall Street wide to Bitcoin“.

This is a new record for Bitcoin. Of the 5,535 ETFs launched over the last thirty years, none have gotten off to such a strong start as BlackRock’s ‘IBIT’ and Fidelity’s ‘FBTC’, said Bloomberg expert Eric Balchunas.

This allows retail and professional investors to gain exposure to the largest cryptocurrency by market capitalization, without having to directly hold the asset.

Via cryptocurrencies, new collectors and art enthusiasts have been attracted to the art market, often younger than their predecessors. Not averse to speculation and the excitement of taking risks, these art enthusiasts and collectors solidly welded to their crypto-universe of Web 3.0.

The near future of Artprice by Artmarket is the meeting place between Web 3.0. (Metaverse and NFT) and Artprice’s artificial intelligence, its Intuitive Artmarket ® AI.

For this reason, Artprice is currently finalizing the Metaverse of its head office located in the heart of its illustrious L’Organe, Museum of Contemporary Art which manages the Demeure du Chaos / Abode of Chaos (dixit The New York Times). To create the Metaverse of this edifice with its highly singular architecture (that falls into the category “total work of art”) created by thierry Ehrmann (who is also a visual artist), the European group TT Géoomètres Experts with its 3D Lab and Groupe Serveur (Artprice’s parent company) carried out the complete digitization of the 6,300 artworks integrated into the buildings, offices, outbuildings and surrounding walls, covering a surface area of over 7,555 m², leading to the creation of a digital asset of 12 terra-bytes. This work was conducted from 2018 to 2023. For more information see:

https://ftp1.serveur.com/abodeofchaos_singular_architecture.pdf

All the necessary investments have already been fully covered by Groupe Serveur.

The Artprice Metaverse, accessible in AR (augmented reality) and/or VR (virtual reality), currently being finalized, must be designed to make people forget rigid IT with Web 2.0, a real obstacle to creation. It should allow crypto-universe enthusiasts to live their experience fully, in particular through the general release in the USA on 2 February 2024 of the Apple® Vision Pro, which offers spatial computing. Meanwhile, all of the American tech giants are massively investing in AR/VR headsets and glasses.

Furthermore, the difficult economic context did not stop Ethereum’s transition to “The Merge” on 15 September 2022 for the completely decarbonized Ethereum 2.0 Blockchain (against the backdrop of a global energy crisis. Indeed, according to its Founder Vitalik Buterin, thanks to “The Merge”, the electricity consumption of the ETH Blockchain shrank by more than 99.95% by switching from ‘Proof of Work’ (PoW) to ‘Proof of Stake’ (PoS). The year 2024 will see the new version “The Surge” (EIP-4844) allowing transaction costs to shrink as well (Source Ethereum Foundation).

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The near future is approaching fast and Artprice by Artmarket is at the forefront of this paradigm shift.

Images:
[https://imgpublic.artprice.com/img/wp/sites/11/2024/02/image1_ai_intuitive_artmarket.jpg]
[https://imgpublic.artprice.com/img/wp/sites/11/2024/02/image2-ghost-ship.jpg]

Copyright 1987-2024 thierry Ehrmann www.artprice.com – www.artmarket.com

About Artmarket:

Artmarket.com is listed on Eurolist by Euronext Paris, SRD long only and Euroclear: 7478 – Bloomberg: PRC – Reuters: ARTF.

Discover Artmarket and its Artprice department on video: www.artprice.com/video

Artmarket and its Artprice department was founded in 1997 by its CEO, thierry Ehrmann. Artmarket and its Artprice department is controlled by Groupe Serveur, created in 1987.

See certified biography in Who’s who ©:

https://imgpublic.artprice.com/img/wp/sites/11/2024/02/2024_Biographie_thierry_Ehrmann_WhosWhoInFrance.pdf

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 (the original documentary archives, codex manuscripts, annotated books and auction catalogs acquired over the years ) in databanks containing over 30 million indices and auction results, covering more than 825,000 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.

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Artmarket with its Artprice department accumulates data on a permanent basis from 7200 Auction Houses and produces key Art Market information for the main press and media agencies (7,200 publications). Its 7.2 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 twice been awarded the State label “Innovative Company” by the Public Investment Bank (BPI), which has supported the company in its project to consolidate its position as a global player in the art market.

Artprice by Artmarket publishes its 2023 Contemporary Art Market Report:
https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2023

Artprice by Artmarket’s Global Art Market Report, “The Art Market in 2022”, published in March 2023:
https://www.artprice.com/artprice-reports/the-art-market-in-2022

Index of press releases posted by Artmarket with its Artprice department:
https://serveur.serveur.com/artmarket/press-release/en/

Follow all the Art Market news in real time with Artmarket and its Artprice department on Facebook and Twitter:

www.facebook.com/artpricedotcom/ (over 6.5 million followers)

twitter.com/artmarketdotcom

twitter.com/artpricedotcom

Discover the alchemy and universe of Artmarket and its artprice department https://www.artprice.com/video headquartered at 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

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La Demeure du Chaos / Abode of Chaos
GESAMTKUNSTWERK & SINGULAR ARCHITECTURE
Confidential bilingual work now public:
https://ftp1.serveur.com/abodeofchaos_singular_architecture.pdf

Contact Artmarket.com and its Artprice department – Contact:  Thierry Ehrmann, [email protected]

Photo – https://mma.prnewswire.com/media/2339778/Artmarket_1.jpg
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Artmarket logo

 

 

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WSPN Appoints Former EY Global Chief Innovation Officer Jeff Wong as Independent Director

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SINGAPORE, Dec. 26, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (WSPN), a leading stablecoin infrastructure company, announces the appointment of Jeff Wong as Independent Director. Mr. Wong brings over 25 years of experience in technology innovation and enterprise transformation to WSPN. He most recently served as EY’s Global Chief Innovation Officer from 2015 to 2024, where he spearheaded the firm’s global innovation initiatives and established EY’s advanced technology labs focusing on Artificial Intelligence, Blockchain, Quantum Computing, and Web3.

Prior to EY, Mr. Wong held leadership roles at eBay and JPMorgan Partners. He is a member of the Council on Foreign Relations, the Forbes Technology Council, and the founding Chair of Asia Society’s Technology and Innovation Council, helping drive the innovation and transformation agenda. He was also a member of the World Economic Forum’s Global Future Council on Innovation Ecosystems. He has previously served on the Oxford Foundry Board at Oxford University and the Advisory Board for AI4All. Mr. Wong is a recipient of the Outstanding 50 Asian Americans in Business award and an honoree of the A100 List by Gold House, recognizing individuals with Asian Pacific heritage who have made a significant impact on American culture and society.

“Joining WSPN at this pivotal moment in the stablecoin industry is incredibly exciting,” said Mr. Wong. “I look forward to contributing my experience in emerging technologies and enterprise transformation to help WSPN build the next generation of digital payment infrastructure.”

“Jeff’s appointment represents a significant strategic addition to WSPN,” said Raymond Yuan, Founder and CEO of WSPN. “His deep expertise in innovation management, enterprise transformation, and emerging technologies, combined with his leadership experience at global institutions, will be invaluable as we accelerate our market expansion and global development.”

About WSPN

WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure digital payments for Web3 users. WSPN’s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.

Learn more: www.wspn.io | X | LinkedIn

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Sinopec Completes Construction of China’s Largest Petrochemical Industrial Base

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Refining Capacity of the Base Surpasses 50 Million Tons per Year

NINGBO, China, Dec. 26, 2024 /PRNewswire/ — China Petroleum & Chemical Corporation‘s (HKG: 0386, “Sinopec”) recently announced the mechanical completion of the second-phase expansion and advanced materials project at its Zhenhai Refinery. This milestone sets new benchmarks for innovation, smart manufacturing, and energy efficiency in large-scale projects. The refinery’s capacity has now been upgraded to 40 million tons per year, contributing to the Zhejiang Ningbo Petrochemical Industrial Base surpassing a total refining capacity of 50 million tons annually. The achievement solidifies its position as China’s largest, most advanced, and globally competitive petrochemical industrial base.

Located in the Yangtze River Delta, a key downstream product consumption hub, the Zhejiang Ningbo Petrochemical Industrial Base plays a vital role in Sinopec’s value chain. The second-phase expansion and advanced materials project, with a total investment of CNY 41.6 billion, incorporates 18 production units, including atmospheric distillation, catalytic cracking, polypropylene, and propane dehydrogenation units. By emphasizing chemical-focused processes, the project creates multiple high-value-added supply chains.

The facility’s expanded production capacity supports the development of high-end polyolefins, advanced materials, and specialty chemicals. It is expected to provide approximately 8 million tons of petrochemical products annually, significantly boosting the overall capacity of supply chains for industries such as automotive, home appliances, and textiles in the region. This expansion is forecast to generate trillions of yuan in upstream and downstream industrial value.

The project achieved remarkable progress in technological innovation and sustainability. Highlights include:

  • Localization of 10 core technologies, including the world’s highest-load vertical labyrinth compressor.
  • Extensive deployment of smart technologies, enabling simultaneous delivery of digital and physical factories.
  • Integration of a fully localized industrial operating system and a self-developed industrial internet platform to enhance decision-making and management.
  • Implementation of comprehensive energy-saving measures, achieving an overall reduction in energy consumption of 11.7%.
  • Safety and quality were paramount during construction, with over 90 million consecutive safe man-hours recorded and a 100% quality pass rate for all units, setting a new industry benchmark.

Zhenhai Refinery, Sinopec’s largest integrated refining and chemical enterprise, boasts an ethylene production capacity of 2.2 million tons per year. It is also the only enterprise in China consistently ranked in the top performance group of the Solomon Global Ethylene Performance Evaluation.

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2025 Will See Increased QR Code Payments but Payment Card IC ASPs Will Not Return to Pre-Covid Levels

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ABI Research’s 5th annual Trend Report identifies the key Digital Payment Technologies trend that will come to fruitionand the 1 that won’tin 2025

NEW YORK, Dec. 24, 2024 /PRNewswire/ — As 2025 kicks off, predictions abound on the technology innovations expected in the year ahead. In its new whitepaper, 101 Technology Trends That Will—and Won’t—Shape 2025, analysts from global technology intelligence firm ABI Research. ABI Research analysts identify 54 trends that will shape the technology market and 47 others that, although attracting vast amounts of speculation and commentary, are less likely to move the needle over the next twelve months. In the Digital Payment Technologies space, 2025 will see increased QR code payment acceptance but little growth for payment card IC ASPs.

“2024 has been marked by challenges, from global conflicts and inflationary pressures to political uncertainty. These factors have strained enterprise and consumer spending, leading to market inertia, short-term technology investments, sidelined capital, and the exposure of vulnerable suppliers,” says Stuart Carlaw, Chief Research Officer at ABI Research. “From a technology perspective, many industries and end markets are in that awkward stage of technology adoption where they are formulating implementation strategies, assessing solutions and partners, and trying to see if they have the resources needed to roll out solutions at scale. This is a particularly sensitive time, which tends to suggest 2025 will have tech implementers and end users on the brink of a period of a massive technology shift as they work through these issues.”

What Will Happen in 2025:

QR code payment acceptance will continue to increase with use cases expanding
Although QR code payment acceptance is prevalent in countries such as China and growing in emerging digital payment markets, including in India, use cases and potential growth areas are not limited to these countries. Significant and continued investments by vendors, including PayPal, Stripe, and SumUp, are setting the foundation for increased adoption in other mature and established economies with use cases expanding. Although QR codes are already being used by many Small and Medium Enterprises (SMEs) and pop-up retail businesses, 2025 will mark the year when the technology begins to shift from one niche to partial mainstream.

What Won’t Happen in 2025:

Payment card IC ASPs will not return to pre-COVID-19 levels
Since the COVID-19 pandemic, chipset pricing has been on a continual rise, driven by increased pricing in myriad manufacturing areas, including energy, raw material, transit pricing, and inflation, driving up wages. The chip shortage further compounded this, and according to ABI Research, the Average Selling Price (ASP) for a payment card Integrated Circuit (IC) increased by approximately +30% between 2020 and 2023. However, despite pricing pressures returning, the cost of payment ICs is some years away from matching pre-COVID-19 levels. Although 2025 will mark another year of pricing deprecation, it will not be until around 2028 when pricing is expected to drop to levels similar to those achieved in 2019 steadily.

For more trends that will and won’t happen in 2025, download the whitepaper, 101 Technology Trends That Will—and Won’t—Shape 2025.

About ABI Research

ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.

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ABI Research是一家全球性的技术情报公司,拥有得天独厚的优势,充当终端市场公司和技术解决方案提供商之间的桥梁,通过提供独家研究和专业性指导,推动成功的技术实施和提供经证明可吸引和留住客户的战略,无缝连接这两大主体。

For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.

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Global                                                             
Deborah Petrara                                                           
Tel: +1.516.624.2558                                                   
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