Online art news platform HAPPENING TECHNOLOGIES has launched a new wealth management product to connect financial investors to players in the art market.
The product called Artist Profiles offers users access to quantitative analyses and summaries of 100,000 artists from the 19th century to the present day.
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HAPPENING TECHNOLOGIES said the product provides access to around 85% of the art market in terms of value and it “aspires to propose the same informational efficiency for the art market as Bloomberg does for stock markets.”
The company will undertake fundraising for the product before the end of 2018.
Private bankers will use Artist profiles to structure collateralised loans on artwork.
Artist Profiles will be marketed as an annual licence with the possibility of acquiring individual profiles and offering them to third parties.
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By GlobalDataAccording to HAPPENING TECHNOLOGIES the markets of art and finance can enrich one another and hold considerable value creation potential. Art needs the liquidity provided by access to financial markets, and finance needs the new asset class represented by art.
The only missing link necessary to bring about a richer convergence between these two markets is technology.
Adeline Pilon, co-Founder and CEO of HAPPENING TECHNOLOGIES, said: “With the creation of Artist Profiles, we have been able to provide a technological solution bridging the gap between the two worlds of art and finance, fields which are related but still relatively separate.”
She added: “After the successful launch of this product, we will be bringing new innovations to market within the ArtTech space through the development of artificial intelligence and we will undertake a fundraising before the end of the year.”
HAPPENING TECHNOLOGIES developed the product in collaboration with the Luxembourg Institute of Sciences and Technologies (LIST).
The product has been proposed in web and will also be launched as a mobile application.
The “data-visualisation” proposed by Art Profiles Is structured according to 5 factors:
- Exhibitions
- Press Coverage
- Internet
- Galleries
- Auctions
