Picasso's Crypto Period
Pablo Picasso's art was considered pioneering when he created it and remains innovative, with stakes being sold in it using blockchain technology for the first time ever.
Zurich-based digital asset bank Sygnum and Artemundi, an art investment pioneer, have partnered to tokenize Pablo Picasso’s painting «Fillette au béret».
World First
Sygnum said in a press release Thursday that this marks the first time the ownership rights in an artwork have been broadcasted onto the public blockchain by a regulated bank, enabling investors to purchase and trade «shares» in the artwork called Art Security Tokens.
The painting is priced at 4 million Swiss francs ($4.4 million) and tokens can be subscribed directly through Sygnum’s e-banking platform, with a minimum subscription of 5,000 francs.
Secondary trading of the ASTs will take place on Sygnum’s digital asset trading platform SygnEx.
