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Alternative Market Briefing

Artemundi and Sygnum Bank present the world's first tokenization of a Picasso listed by a regulated bank

Thursday, July 15, 2021

Matthias Knab, Opalesque:

Artemundi, an art investment pioneer, and Sygnum, a digital asset bank, have partnered to tokenize Picasso's Fillette au beret painting. 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, enabling investors to purchase and trade "shares" in the artwork called Art Security Tokens (ASTs).

• Created in 1964 by Pablo Picasso, the most influential artist of the twentieth century, the Fillette au beret is priced at CHF 4 million

• Tokenization lowers the barriers to art investment and opens-up the art market to a broad range of new investors

• Tokens will be available for subscription to professional and institutional investors exclusively through Sygnum, a FINMA-regulated Swiss Bank

• Token holders will have their ownership share in the painting fully recognised under Swiss law

• Secondary trading of tokens takes place on SygnEx, Sygnum's digital asset trading platform

Tokenization holds potential to increase transparency and democratise the annual USD 60 billion art market

The art market is complex, and often requires deep technical knowledge, personal connections and millions of dollars to enter. Tokenization, which creates digital representations of financial and real assets on the blockchain, enables fractional ownership, lowering financial barriers and democratising access to pieces of art history like Picasso's Fillette au......................

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