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Fintech and Art – platforms and tokens

By Bernard Lunn.

Bernard Lunn
Bernard Lunn
Just three months ago I started covering how technology (Who's Who in Fintech and Art) is transforming the illiquid and non-standardized asset class of Art. The post was inspired by Spiros Margaris the Artist.

I had identified five startups offering more transparency, platforms for provenance or exchanging value; using machine learning or Blockchain technology.

Arthena: A machine learning platform that allows us to become a co-owner of a genuine Picasso
Artelry: A mobile art discovery platform.
MutualArt: a global leading source of art market information and manager of the APT (Artist Pension Trust) collection.
Ascribe with a focus on empowering artists.
Weifund a blockchain-based equity crowdfunding platform developed by ConsenSys.

A Fintech entrepreneur who is an Artist

Today I am inspired by another Swiss Fintech personality that has also a less known artistic side. Marc Berneggger, is a serial entrepreneur, who wears gracefully and successfully more than one Fintech hat. Before I dive in that part of his activities, I share with you Marc’s Pixel based art which started as he was playing around with his Commodore 64 to create pixel prints. Since then he has designed 3D sculptures of pixel art in square, rectangular and sphere shapes. He has exhibited and evolved as an artist.

Marc is involved in the venture studio Finleap with 12 ventures currently and with a recent fundraising of $21million (bringing to a $121million valuation). He recently joined the board of Falcon Private Bank, a Swiss private bank, who just announced that through their partnership with Bitcoin Suisse their wealthy clients will be able to store and trade bitcoins via their cash holdings with the bank. He is also on the board of the newly announced venture of The CryptoFund, which will be the first FINMA approved diversified investment vehicle for institutional investors to gain exposure in the cryptocurrency space in a simple and compliant way.

Fintech and Art startups

The startups already covered in April using blockchain technology were Ascribe and WeiFund. In June, WeiFund supported the funding of the Braid movie, a psychological thriller, that raised $1.7 million through a token sale that promises to distribute 30% of revenues to the token holders. The shooting of the movie has already started and distribution is planned for the end of 2017.

The progress of this symbolic crowdsale will be watched, as it is the first of its kind. A use case of the decentralized principles for artists tapping into investors directly and in a way (partly) making them into producers. Will this idealistic way of producing movies, where the audience can invest and share profits in movies they care about and want to see, scale? Will the trading, flipping ICO frenzy allow any room for such experiments?

Ascribe has invested in Verisart, a startup that is using the blockchain technology and focusing on authentication of art.

To the list of blockchain based startups, I am adding ArtByte, the digital currency supporting the arts. The cryptocurrency is aiming to monetize artistic content, similar to how Steemit is focused on monetizing broader content.

To the list of decentralized ecosystems creating the future Internet of Value, I am adding SingularDTV who is also building the infrastructure for monetizing the entertainment industry.

“As a tokenized ecosystem within the CODE structure, SingularDTV will be able to operate as a blockchain entertainment studio that is a producer, acquirer, and distributor of content. Its universal and non-regionalized rights, revenue and royalty platform is laying the foundation for a decentralized entertainment industry.” Source: Anatomy of SingularDTV’s CODE (Centrally Organized Distributed Entity) A Decentralization Generator for the Tokenized Ecosystem

To the list of platforms focused on transparency and match making, I add Wealth-initiative, a Swiss startup that has launched a platform for wealthy clients to trade 4 asset classes: real estate, art, passion investments and direct equity. For now the platform is a secure marketplace for P2P trading of private clients within institutions. Later the plan is to offer the capabilities across institutions.

We will be watching the competition between the platformification and the tokenization of value exchange in Art.

Bernard Lunn
Founding Partner, Daily Fintech Advisers

Bernard Lunn is a serial entrepreneur, senior executive, adviser and a strategic dealmaker. He worked in Fintech before it was called that with startups, growth stage and turnaround ventures (incl. Misys, Temenos, IMS, ITRS). He has lived and worked in America, India, UK & Switzerland and is adept at cross border deals.

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Jeudi 21 Septembre 2017