ArtValue Artificial Intelligence (AVAI) and Global Digital Assets (GDA) have reached an agreement to further deepen their strategic relationship in the build out and distribution of an AI driven art pricing, assessment and market sentiment platform. Positioning itself as an Art Data company, it is the goal of ArtValue to deliver Real Time Analytics (RTV) in order for art to be managed similar to mainstream asset classes.The two companies are pursuing several opportunities and products for art investors through the AVAI technology, including custom dashboards and a database of artwork value profiles.
The partnership consists of Global Digital Assets participating in an advisory and distribution capacity to help ArtValue build the required features to their valuation products to be useful across their network of art investors. ArtValue also has plans to be the valuation layer for payments of art assets that are stored on the blockchain, which ties closely with the focus from Global Digital Assets of putting assets onchain and making them transactable. Through the partnership, the two firms strengthen their market leading position for digital assets of art.
AVAI, which has been operating since 2016, has developed proprietary technology that is patent pending using the latest AI algorithms, big data and the semantic web and currently provides price assessment and correlations based on a database of over 2 million artworks including all blue chip artworks. The platform also provides search information on returns of select artists including price movements and forecasts, public auction sales data of similar works and many other factors that impact the value of specific paintings. The primary mission is to provide transparency to those who invest in art.
“ArtValue Artificial Intelligence is market leading software for art valuations that we can use to determine real time pricing of artworks to enable the transactability of digital assets stored on the blockchain that is supported by blue chip artworks.”, said Global Digital Assets CEO, Michael Gord. “We are happy to be working with their team of innovators and to use their software to ultimately increase the demand for and potential profitability of art investments by increasing their liquidity.”
AVAI users will be able to identity answers to questions that were traditionally difficult to verify such as what attributes of the artwork can impact the value, the relationship of the artwork to similar works that have been sold recently, the price trends for each attribute, the expected appreciation or depreciation rate of the artist, the size of the global collector base of each artist, the demand for each work from the community and the expected volatility of the artwork, among other relevant indicators. The AVAI community will be able to make educated decisions based on this compiled data to identify artists and artworks that meet their investment objectives based on their risk profiles.
“This partnership opens up tremendous growth opportunities for the family of products in the ArtValue portfolio. The teams at Global Digital Assets offer significant access to art investment networks that will prove invaluable to the expansion of our business.” said Brian McConville, co-founder and CEO of ArtValue. “I’m excited to be partnering with their market leading firm and working together to execute on our mutual goal of making art transactable and more liquid.”
Global Digital Assets
Global Digital Assets (GDA) is a global blockchain & digital assets focused merchant bank based in Toronto & New York City. GDA offers a full-suite of services spanning from ventures and capital to markets and liquidity in order to provide end-to-end solutions to disruptive and cutting-edge blockchain projects.
Global Digital Assets and its experienced management team has experience that spans the entire blockchain industry. This includes venture capital, capital markets, trading, blockchain technology, token development and issuance. Our team has played a significant role in taking dozens of tokens to market for clients around the world; having led million dollar marketing and activation campaigns, and completing over three billion dollars of private placement or OTC transactions. We have worked with a variety of firms ranging from family offices and HNWI, Fortune 100 enterprises, startups and global governments looking to accelerate their countries adoption of the blockchain.
AVAI is a product of Art2Score Inc. A2S Inc is a high tech, data driven, financial and information company designed to solve problems in art investing. It is a privately held company headquartered in New York City. AVAI provides tools such as art asset analytics to investors and financial companies using APIs and dashboards for art investing.
AVAI’s engineering team has many years of AI experience starting technology companies with backgrounds in NLP and deep learning, including proprietary algorithms and approach. Based on our hands-on AI development experience, we’ve designed the world’s first AI engine to value fine art as an investment asset. Our business mission is to help turn an art collection into art investing.