Lưu trữ cho từ khóa: tokenization

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Can global regulation keep up with the tokenization boom? | Opinion

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Imagine a world where everyday investors can own a part of underground oil reserves or a share in a skyscraper with the click of a button. This is the promise of tokenizing real-world assets—a technology poised to unlock trillions of dollars in traditionally illiquid markets like real estate, commodities, and infrastructure. However, while this innovation is set to revolutionize global finance, the regulatory frameworks needed to support it are often being outpaced by the rapid developments in this space.

Security tokens, such as those representing RWAs like property, commodities, or oil and gas, have the potential to transform how we invest, but they also come with strict regulations that need to be followed.

The growing market for tokenized assets

According to the Boston Consulting Group and World Economic Forum, the tokenized asset market is expected to reach 16 trillion by 2030. Another report suggested that the market value for tokenized assets could soar up to $10 trillion in a ‘bull case’ scenario or $3.5 trillion in the ‘bear case’ by 2030. This projection covers a wide range of real-world assets, from real estate to commodities like oil and gas, and demonstrates the growing appetite for fractional ownership models that allow everyday investors to participate in markets that were previously the domain of institutional players​.

Yet, for all its promise, the road to tokenizing these assets is paved with regulatory hurdles.

The challenges of fragmented regulations

Specifically, one of the primary challenges facing tokenization today is the fragmented nature of regulatory frameworks across different jurisdictions. While some countries, such as Liechtenstein and Switzerland, have developed clear regulatory structures for security tokens, many other key markets remain ambiguous or lag behind in defining how tokenized assets fit into existing securities laws.

For instance, the European Union’s Markets in Crypto-Assets Regulation, set to roll out fully by 2024, provides some clarity on how certain digital assets, including tokenized securities, should be regulated across the bloc. This kind of regulatory framework is crucial for establishing investor confidence and ensuring that these new financial instruments adhere to established legal norms. However, MiCA’s approach, while promising, is still limited geographically, and global markets remain fragmented​. Moreover, there is ongoing debate within the legal community about the interpretation and implementation of MiCA, particularly regarding its application to tokenized assets, underscoring the complexity of aligning regulatory frameworks with the rapid pace of innovation.

In other regions, regulatory ambiguity is more pronounced. In the United States, the Securities and Exchange Commission has signaled that many tokenized assets fall under its jurisdiction as securities. However, a lack of definitive rulings on specific tokens has left many in legal limbo, unsure of whether they comply with US securities law. This uncertainty poses a significant challenge to global interoperability—an essential feature for the widespread adoption of tokenized assets.

The role of compliance and security

The regulatory uncertainty surrounding security tokens is not just an issue of compliance but also one of security. Blockchain technology promises greater transparency and security, with tokenized assets recorded on an immutable ledger that can be easily audited. However, these benefits hinge on ensuring that the platforms facilitating tokenization are compliant with anti-money laundering and know-your-customer regulations.

A key consideration for tokenization platforms is following financial rules set by local and global authorities. To do this, many platforms use private blockchain systems or permissioned blockchain models to track who is using them and prevent illegal activities like money laundering. However, the lack of standardization across jurisdictions creates significant friction for cross-border transactions, a key value proposition for the tokenization of global assets​.

Additionally, ensuring the security of the blockchain infrastructure and the underlying assets remains a top priority. The potential for hacking, fraud, or mismanagement of tokenized assets could undermine the credibility of this emerging market. For tokenization to gain traction, particularly among institutional investors, robust security measures, transparency and compliance are essential.

Opportunities for innovation in regulatory sandboxes

Despite these challenges, tokenization platforms are already finding success by collaborating with regulators in regulatory sandboxes—controlled environments where they can test innovative financial products. In places like Singapore, the United Kingdom, and Switzerland, regulatory sandboxes have provided a testing ground for blockchain projects, allowing developers to identify compliance issues before full market deployment. 

For instance, Switzerland’s SIX Digital Exchange has successfully issued tokenized bonds in a fully compliant manner, demonstrating how traditional securities can be brought onto the blockchain. In May 2024, SDX issued a CHF 200 million digital bond in collaboration with the World Bank, further showcasing how traditional securities can be brought onto the blockchain while adhering to regulatory standards. ​

In Singapore, the Monetary Authority of Singapore’s regulatory sandbox has enabled projects like BondEvalue, which has tokenized government bonds, to test their platforms under regulatory supervision. In 2023, BondEvalue rebranded as BondbloX and expanded its platform, allowing bonds to be traded in smaller denominations and making bond investments more accessible to retail investors. These examples show that innovation and compliance can work hand-in-hand, laying the foundation for a more secure and accessible market for tokenized assets.

A path forward: Collaboration and global standards

Ultimately, the future of tokenizing real-world assets will depend on global collaboration between regulators, developers, and investors. Security tokens offer a tremendous opportunity to reshape how we view and access traditional assets, but this can only be realized if the regulatory landscape evolves in tandem with technological innovation.

A unified global regulatory framework may be the ideal, but in the short term, clearer guidelines from national regulators and further development of international standards like MiCA are essential. Moreover, establishing interoperability between blockchain platforms could ease cross-border compliance, enabling tokenization to reach its full potential in a decentralized global economy​.

For now, as both opportunities and challenges in tokenizing RWAs come into sharper focus, businesses must tread carefully. The winners in this space will be those who embrace both innovation and compliance, striking the right balance as the market continues to mature.

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Settlement giant Euroclear backs blockchain infra startup Marketnode

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Singapore-based blockchain infrastructure startup Marketnode has secured funding from European clearinghouse giant Euroclear to expand services in the Asia-Pacific region.

Marketnode, a blockchain infrastructure startup based in Singapore, has announced a strategic investment from European clearinghouse Euroclear, aimed at expanding its services across the Asia-Pacific region.

In a blog announcement on Oct. 17, the Singapore-based startup, which specializes in blockchain-based financial infrastructure and tokenization asset management, highlighted that the funding aligns with Euroclear’s global funds strategy. While the specific financial details of the investment were not disclosed, the partnership is expected to enhance Euroclear’s one-stop-shop fund offering in the region, the announcement reads.

Marketnode chief executive Rehan Ahmed commenting on the funding said the investment “will catalyze the growth of Marketnode’s platforms,” adding that the firm is looking forward to building the “next generation of financial market infrastructure out of Asia, working together with Euroclear, HSBC, Temasek and our clients to realize our mission and vision.”

Euroclear has previously ventured into blockchain technology, having partnered with the World Bank to launch a tokenized securities issuance service, which included a €100 million digital bond issuance.

Founded by SGX Group and Temasek in 2021, Marketnode serves as Asia-Pacific’s distributed ledger-powered financial market infrastructure. The startup offers a platform that includes issuance, data, workflow, and tokenization capabilities, as well as blockchain-based fund settlement infrastructure. In May, Marketnode closed its Series A investment round led by HSBC alongside contributions from existing shareholder Temasek to scale its platform in an effort to develop a multi-asset ecosystem.

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IVVIA concept: A new path to property ownership through tokenization | Opinion

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In my previous article on real estate tokenization, I explored how this promising innovation has stalled despite the early excitement around its potential. The truth is that tokenization without a clear economic purpose is doomed to remain a niche concept. We have yet to see the broad adoption we anticipated because the economic rationale just isn’t there. 

For years, I’ve advocated for a blockchain estate registry, which would introduce title tokens that directly represent property rights, not just securities or investment claims. While governments have been slow to adopt this idea, I’ve continued to explore how tokenization can serve a real, practical purpose in real estate.

And then it struck me: an innovative approach that merges tokenization with decentralized finance to create a fourth way to acquire property. Something entirely different—what I’ve named IVVIA. Derived from the Latin ‘IV via,’ meaning the fourth way, IVVIA offers a new path for property acquisition.

Introducing the fourth way: IVVIA

We all know the traditional paths to acquiring real estate: cash, mortgages, or leasing. Each of these has its drawbacks. Cash purchases are unattainable for many, mortgages come with long-term commitments and high fees, and acquiring through a lease offers no path to ownership or investment returns. So, what if there was a fourth way that combined the benefits of ownership and investment with the flexibility of tokenization?

The idea of IVVIA is rather simple—it allows a property buyer, let us call them an “ivviator,” to gradually purchase their home by acquiring tokens that represent fractions of the property. It’s similar to a mortgage in that buyers can make monthly payments, but without the rigidity of a bank loan. Instead, they partner with real estate investors—called “ivviatees”—who hold the tokens. The ivviators buy these tokens over time at market value, much like paying off a mortgage, but with far more flexibility and fewer fees.

Unlike a mortgage, where you’re locked into a 20-year financial agreement, IVVIA lets you buy out tokens at your own pace. If the ivviator (home occupier), say, needs to move to another city, they can sell their accrued tokens at market value and walk away. Investors, on the other hand, enjoy liquidity. They can sell their tokens to the ivviator or on the open market at any time.

Source: The courtesy of Oleksii Konashevych

The relations are governed by a smart contract, which automates many of the routine transactions, from token sales to monthly rent payments. The beauty of this model lies in its flexibility and transparency, all powered by blockchain.

The economics of IVVIA: A real-world scenario

To test the feasibility of this concept, I turned to two decades of historical market data from the Australian Bureau of Statistics, including information on property prices, mortgage rates, rent, and bank deposit rates. I modeled the potential outcomes for both traditional mortgages and the IVVIA system, and the results were striking.

Let’s consider the case of Alice, who, in 2004, bought a two-bedroom house in Auburn, a middle-ring suburb of Sydney, for $520,000. With a 20% down payment of $104,000, she took out a 20-year mortgage at an average interest rate of 6.44%. This meant monthly repayments of $3,175. Over 20 years, her total expenses, i.e., the loan interest and the house price, amount to $866,000. Fast forward to 2024, and the property is now valued at $1,400,000. If Alice decides to sell, her net profit would be $533,000 ($1.4M minus $866K in total costs).

Now, let’s compare this to how things would unfold in the IVVIA system. Instead of taking out a mortgage, Alice partners with four investors—Bob, Chuck, Dave, and Eve—who each contribute $104,000 (equal to Alice’s 20% down payment). They are also typical individual real estate investors, who would otherwise go to the bank. Instead together, they form a unit trust, purchase the house, and tokenize it, with each member receiving an equivalent share of tokens.

In this scenario, Alice continues to pay $3,175 per month, the same as she would have under a mortgage, which we’ll refer to as her Expenditure Cap. However, instead of repaying a bank loan, Alice allocates her monthly Expenditure Cap between renting and buying out her investors’ tokens.

Here’s how it works: Initially, Alice would pay rent to her co-investors based on their ownership of the property. With Alice owning 20% of the tokens, she would pay 80% of the rent to the other investors. Assuming an initial market rent of $1,216 per month, Alice’s share of the rent would be $973 (80% of the total). The remaining $2,202 from her monthly Expenditure Cap would be used to buy tokens from her co-investors, at a price reflecting the current market value of the property.

Source: The courtesy of Oleksii Konashevych

In the first month, Alice could afford to buy 1.30 tokens at the property’s new value of $521,000, bringing her total ownership to 20.44%. Over time, as Alice’s ownership share increases, her rent decreases. After ten years, she would own nearly 79% of the property, reducing her rent payments to just 21% of the market rent—$368 per month. By this point, the house’s value would have risen to $745,000, and Alice would be buying around 1.1 tokens monthly.

After 15.5 years, Alice would fully own the property, having spent a total of $700,000, including the initial down payment, rent, and token buyouts. This represents a significant saving of approximately $166,000 compared to the traditional mortgage route.

The investor’s perspective

What about investors? The basic scenario for them mirrors Alice’s mortgage. In IVVIA, investors earn profits from both rent and the difference between the initial token price and the selling price, starting the next month after the house purchase, based on their share. A simple calculation shows that an investment of $104,000 could yield a total return of $44,000. 

However, to make this comparable to a mortgage, we need to add some conditions. While IVVIA allows investors to receive monthly cash flow, the mortgage, on the other hand, requires some household income to be tied up in monthly repayments for 20 years, effectively locking the wealth into the property’s value. Therefore, to make the comparison fair, we assume Bob, as one of the investors, doesn’t spend his rental profits or token sale income but accrues it, for example, in a bank deposit, similar to how a homeowner accrues equity. After 20 years, this accrual could result in a total of $1,200,000—140% more than $533,000 he would have earned in the traditional mortgage scenario.

Source: The courtesy of Oleksii Konashevych

From naïve to a real-world solution

While IVVIA represents a real solution to the challenges of real estate tokenization, there are some hurdles to consider. Long-term investments, like those in real estate, can run into legal complications—such as disputes, bankruptcies, or even deaths of the ivviatees. A simple smart contract doesn’t easily resolve these issues.

For IVVIA to scale up, we’ll likely need professional smart contract administrators who can manage the system impartially, handle legal complexities, and ensure compliance with evolving regulatory frameworks. Despite the challenges, the advantages of automation and decentralization still make this a far more efficient system than traditional real estate finance.

Conclusion

The idea of tokenizing real estate isn’t new, but what IVVIA brings to the table is a true economic solution. By merging the flexibility of tokenization with the stability of real estate, IVVIA solves the problem that has held back property tokenization from going mainstream. This isn’t just another blockchain use case; it’s a real change in how we think about property ownership and investment.

IVVIA works because it aligns the incentives of buyers and investors, turning property into a dynamic, tradable asset while offering individuals a flexible path to homeownership. By leveraging smart contracts, DeFi, and fractional ownership, IVVIA could very well represent the future of real estate—a fourth way that might just become the new norm.

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Navigating the AI compute craze as a retail investor in the web3 era | Opinion

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As we approach the end of 2024 and reflect on the technological advancements it brought, the buzz surrounding artificial intelligence and high-performance computing continues to overshadow all other web3 developments. As such, this year saw an overwhelming customer demand for AI products and even greater pressure on data centers to deliver AI infrastructure to boost efficiency. 

With companies racing to adopt these technologies, many have considered investing in compute resources like graphic processing unit chips, commonly used for training AI models, blockchains, autonomous vehicles, and other emerging applications. But before organizations fully embrace the exciting potential of this hardware, we need to carefully consider the complexities and challenges that come with them.

It’s true that the promise of AI is indeed enticing. Just look at the stats from OpenAI’s ChatGPT, which garners over 200 million active weekly users. From automating mundane tasks to driving sophisticated analytics, the potential of AI and large language models is vast, and these technologies are here to stay. 

The growth has just started 

Unsurprisingly, organizations are eager to gain a competitive edge through AI, leading major players like Meta and Apple to invest in the software that supports this technology. 

A recent report from Bain & Company—a management consulting company—revealed that AI workloads are expected to grow 25 to 35 percent annually over the next several years, pushing the AI-related hardware and software market to between $780 billion and $990 billion by 2027. 

However, investing in compute resources involves more than just purchasing hardware or subscribing to a cloud service. If we’re assessing some of the barriers to investing in this software, one of the biggest hurdles investors face is the initial cost.

The costs of advanced GPUs like NVIDIA’s A100 or H100 can be upwards of millions of dollars, with additional costs for servers, cooling systems, or the electricity needed to power the devices. This presents a challenge for retail investors looking to add this technology to their portfolios, often limiting investment opportunities to powerful corporations.  

Beyond the hefty price tag, the hardware itself isn’t for the faint of heart. It requires a thorough understanding of optimizing and managing these resources effectively. Investors should have specialized knowledge in the hardware and software, making technical expertise a prerequisite. 

Even if affordability and technical challenges weren’t barriers to investing, a significant obstacle remains: Supply or lack thereof. The Bain & Company report reveals that demand for AI components could grow by 30 percent or more, outpacing supply capabilities. 

While investing in compute may seem out of reach, there are new models making it more accessible to everyday investors, allowing them to tap into the potential of advanced computing despite existing barriers.  

Tokenization as a solution

Through the tokenization of high-compute GPU resources, Exabits offers users an opportunity to become stakeholders in the AI compute economy, allowing them to earn rewards and revenue without needing to manage the complexities of hardware ownership. With affordable entry points and reward systems, Exabits allows individuals to participate in the demand for GPU resources while avoiding the risks associated with direct investment, making investing in AI compute more accessible. 

Exabits has coined its business model, “The Four Seasons of GPU,” emphasizing quality assurance and consistency across its GPU offerings. Just as the Four Seasons is world renowned for its high service standards, “The Four Seasons of GPU” provides quality-guaranteed hardware that investors can trust. Investors can rely on Exabits for personalized assistance, similar to the hotel’s commitment to customer satisfaction. As a platform and a business, Exabits aims to provide equal opportunities for investors to participate in this growing AI compute economy.

As demand for computation rises, so does the appetite for investment opportunities within this rapidly emerging space. With the ongoing growth of AI, blockchain, and other tech trends, the future of GPU development will depend on the industry’s ability to meet these demands and create opportunities that continue to broaden access to this esteemed technology. 

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Report: State Street enters tokenized bonds and digital money funds

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American financial giant State Street is exploring blockchain technology to tokenize bonds and money market funds for enhanced collateral management.

State Street, the largest custodian bank in the world, is leveraging blockchain to explore the tokenization of bonds and money market funds, joining a growing number of firms adopting distributed ledger technology in traditional finance.

In an Oct. 8 interview with Financial News, State Street chief product officer Donna Milrod said the firm has two ongoing projects focused on tokenizing collateral linked to money market funds and bonds, adding that the pilot “will take us through part of next year.”

She explained that the Boston-headquartered banking institution aims to develop tokenized collateral that can be used as variation or initial margin for trading.

State Street does not rule out stablecoin launch

Currently, trading firms are required to liquidate their holdings in money market funds to post cash as margin for trades. However, with digitalized funds, tokens could serve as collateral, eliminating the need for redemption altogether, Milrod explained.

State Street is not the first institution experimenting with the tokenization of money market funds. BlackRock, for example, launched a blockchain-based fund earlier in March. JPMorgan is also exploring the use of tokenized money market funds as collateral and has already tokenized real-world money through its stablecoin.

Although Milrod noted State Street’s current focus does not include launching a stablecoin, she acknowledged the potential for future developments, saying, “That does not mean we will not [launch a stablecoin] at some point, but we do not feel the need to do that right now.”

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Museums, AI-generated art, blockchain, and NFTs | Opinion

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Refik Anadol Studio, co-founded by Refik Anadol and Efsun Erkiliç in 2025, is launching an immersive AI art & NFT museum called DATALAND at The Grand LA, with a flagship location at the Frank Gehry-designed development in the heart of downtown Los Angeles. 

DATALAND will feature immersive AI art experiences by establishing a new model for artistic expression at the onset of the digital age by taking immersion to the next level with the AI-powered scent of the galleries. As AI artist Refik Anadol explained to me: 

“We aren’t yet revealing the details about DATALAND’s artistic programming, but there will be many moments for sharing/exhibiting AI artists’ work both physically and virtually so people who cannot travel to LA have access to the AI art creations. And can purchase the AI art work NFTs minted on an Ethereum-based platform and many other sustainable chains for exciting art and culture activities.”

Refik Anadol Studio announced the launch of DATALAND during Climate Week NYC, which is celebrated NYS-wide for the first time and runs parallel to the United Nations General Assembly meeting, where world leaders gather to address critical global challenges. DATALAND’s inaugural exhibitions will be prepared with the Large Nature Model, an open-source AI model based solely on nature data, to produce unprecedented immersive AI-powered digital environmental artwork. The studio initially presented such installations at the 2024 World Economic Forum in Davos, Switzerland, and then at the United Nations in New York during the 2024 UNGA to promote environmental awareness. As UN Under-Secretary-General Melissa Fleming concurred:

“Refik Anadol’s artwork is a testament to the beauty and fragility of our natural world. It’s a clarion call to world leaders: we must harness the power of technology [AI art & NFTs] and human ingenuity and agency to incite action to protect our planet before it’s too late.”

The award-winning studio has been engaged by leading tech companies, groundbreaking researchers, and cutting-edge thought leaders to produce projects that have been shown in more than 70 cities spanning six continents and experienced by millions of ardent fans. These exhibition venues include several United Nations Climate Change Conferences, MoMA, Centre Pompidou-Metz, Serpentine Galleries, National Gallery of Victoria, Venice Architecture Biennale, Hammer Museum, Arken Museum, Casa Batlló, Dongdaemun Design Plaza, Daejeon Museum of Art, and Istanbul Modern Museum. Nevertheless, Refik Anadol Studio, as explained by Refik, chose “Los Angeles as the perfect city to launch DATALAND, a forward-thinking, revolutionary museum in support of the fields to which I have dedicated my career: art, science, technology, and AI research.” And he continued:

“As LA has long been a city that looks to the future in art, music, cinema, architecture, and more, it feels natural to open DATALAND here. To have a permanent space for us to develop a new paradigm of what a museum can be—by fusing human imagination with machine intelligence and the most advanced technologies available—is a realization of one of my biggest dreams. To do so in a building designed by one of my heroes, Frank Gehry, is almost unbelievable.”

DATALAND will use millions of photos and other records from partner museums, including the Smithsonian and London’s Natural History Museum, to create its installations. “We already have three major collaborations with museums in the works and are very confident to join forces across the world,” added Refik.

History of AI art, NFTs, and museums

Christiane Paul, the digital art curator of Whitney Museum, who is “looking forward to learning more about DATALAND,” detailed the AI Art History at the groundbreaking symposium at Rhode Island School of Design’s “Debates in AI” held during April 11-12, 2024, that invited artists worldwide. She explained that  AI art has a fascinating history that intertwines technology and creativity, and it continues to evolve, pushing the boundaries of what is possible at the intersection of technology and creativity.

Christiane Paul, curator of Digital Art at Whitney Museum, debates in AI art history

Early beginnings: 1950s-1970s. The roots of AI art can be traced back to early experiments with computer-generated art, where artists and computer scientists collaborated to create visual and abstract compositions using early computer algorithms. One notable example from this era is captured by the Whitney Museum’s exhibition curated by Christiane Paul with David Lisbon tracing the evolution of Harold Cohen’s AARON, the earliest artificial intelligence program designed to create drawings and paintings. AARON was first exhibited in 1972 at the Los Angeles County Museum of Art.

Advancements in algorithms: 1980s-2000s. During this period, algorithms and computing power advancements allowed for more complex and varied artistic outputs, and AI art began to gain recognition in academic and artistic circles.

The city of Los Angeles, which will become home to DATALAND,  served as grounds for the Gray Area Foundation, a cultural incubator with a mission to cultivate, sustain, and apply antidisciplinary collaboration, back in 2002 to integrate art, technology, science, AI, and the humanities—towards a more equitable and regenerative future. This foundation moved its headquarters to San Francisco in 2005.

Deep learning revolution: 2010s. The advent of deep learning brought significant changes with generative adversarial networks and other machine learning techniques that enabled the creation of highly sophisticated and realistic artworks. AI art started to be exhibited in NFT form in galleries and museums and auctioned in prominent auction houses, raising questions about creativity and authorship.

In 2014, digital artist Kevin McCoy issued the first-ever art NFT. 

Four years later, in 2018, Christie’s art auction house became the first auction house ever to offer AI artwork for sale.  Christie’s also hosted its first Art + Tech Summit on the topic of blockchain. In June 2019, the second edition focused on artificial intelligence and art. Since then, blockchain, NFTs, and AI have been hot topics in the art world, intersecting unexpectedly.  At the helm of digital curator Christiane Paul, Whitney Museum became an early collector of NFTs starting in 2018.

Mainstream adoption: 2020s. The increased availability of AI art tools to the general public has democratized the creation of AI-generated images. This era has also seen debates about NFTs, its market bubble and crash, copyright, the impact on traditional artists, and the ethical implications of AI in art.

In Germany, the Intelligent Museum—a practice-based research and development project at the ZKM | Center for Art and Media Karlsruhe and the German Museum—was backed by the Digital Culture Programme of the German Federal Cultural Foundation in 2020. It explores new paths of museum communication and outreach to connect the museum with current AI technologies, making it a place of experience and experimentation, a social space where art, science, technology, and public discourse come together. One of the best-selling AI-generated NFT artists exhibited at ZKM is a program called Botto, which is the brainchild of computer engineers and a German artist named Mario Klingemann in 2021 that creates  AI art NFTs. Today, Botto has created over 75 NFTs that generated more than $3 million in revenue.

In New York City, the Museum of Modern Art—ahead of holding its first-ever AI Art Show curated by Michelle Kuo, “Unsupervised” by Refik Anadol—became the beneficiary of a major new endowment established by the William S. Paley Foundation to support MoMA’s ambitious goals in digital media and technology and to provide for new AI Art/NFT acquisitions. Henry Kissinger, Chairman of the William S. Paley Foundation at the time, stated:

“I know how deeply my friend Bill Paley cared about The Museum of Modern Art and with what devotion he dedicated himself to its advancement. With this initiative, the Foundation will honor his intention and continue his vision for MoMA.”

Nevertheless, MoMA has adopted a cautious approach to NFTs so far. Other than contributing data to algorithmically generated works by artist Refik Anadol and, in October 2023, announcing that it had acquired “Unsupervised” for its permanent collection, the museum has not been involved with other AI art or NFT projects.

In Singapore, curated by ArtScience Museum’s Deborah Lim and guest curator Clara Che Wei Peh, “Notes From the Ether” last year was an exciting and timely exhibition that offered a glimpse into the future of digital art with work by 20 artists: Memo Akten, Burak Arikan, Botto, Mitchell F Chan, DEAFBEEF Simon Denny, Harm van den Dorpel, Sarah Friend, Rimbawan Gerilya, Holly Herndon and Mathew Dryhurst, Tyler Hobbs and Dandelion Wistjo+kapi, Larva Labs, Jonas Lund, Ninaad Kothawade, Sarah Meyohas, Rhea Myers, Aaron Penne, Aluan Wang, Emily Xie. These artists work with the emerging technologies of non-fungible tokens and generative artificial intelligence to push the boundaries of what art is and what it could be.

The future of museums AI art and NFTs

Undoubtedly, over the past 40 years, the usage of AI-generated art has been on the rise, becoming all the more popular during the last ten years with the tokenization of art via NFTs, according to the Academy of Animated Art. As Vilas Dhar, President of the Patrick J. McGovern Foundation, explained:

“AI is not just a tool for innovation—it’s a force that can reshape how we see our planet, reconnecting us with the beauty and fragility of nature in ways never before possible. Refik Anadol’s brilliant vision allows us to use technology [AI Art & NFTs] to engage the senses and spark a deeper emotional connection to our natural world.”

During this year, many museums and more than 100 “immersive” institutions around the world are showcasing/purchasing AI art and NFTs on a large scale to massive audiences to exhibit the marriage of human imagination and machine intelligence, which includes Seattle NFT Museum, Guggenheim Museum, Mercer Labs, Museum of Art & Light, Buffalo AKG Art Museum, Centre Pompidou, Tate Modern,  PST Art: Art & Science Collide, which held at over 60 shows across Southern California, and many others.

Magda Shawon, co-founder of Postmasters Gallery in New York City, who works with the first NFT Artist Kevin McCoy, has been selling digital, AI-generated art to museums such as MoMA, the Metropolitan Museum of Art, and The Whitney Museum of American Art for over 20 years.  She agrees with Vilas and Melissa’s sentiments about Refik’s impactful AI artwork: 

“People don’t want to stop watching  Refik Anadol’s AI Work when they sit in front of it. Refik’s work has an impact, but whether it is a trigger to create an enormous field of AI generative art, NFT sales is a big question.”

Digital art has been collected for as long as it has existed, but widespread adoption is still nascent. The tokenization of art via NFTs has helped the digital art world and the traditional art world integrate, leading to a burgeoning interest from museums, immersive institutions, collectors, auction houses, NFT markets, and galleries. The first NFT artist, Kevin McCoy, who created an art NFT back in 2014, is hopeful and supports Refik’s museum, AI art, and NFT initiative. He highlighted: 

“I’m heartened by Anadol’s announcement of Dataland. He is leading by example both with his ‘ethical AI’ initiative and the commitment to the exhibition and preservation of AI and digital art that the museum represents. Within this context, the provenance provided by NFTs and blockchain-based records, more generally, can play a central role. This will be an important next step in the expanding use of this technology.”

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Poland’s Pekao Bank using blockchain to preserve art in arctic vault

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Poland’s second-largest bank, Bank Pekao, is using blockchain technology to preserve the country’s cultural heritage. 

According to a Pekao press release, the bank partnered with Aleph Zero to launch Archiv3, a project aimed at tokenizing Polish artwork and securely storing it for future generations.

Tokenization is the process of turning physical assets, like art, into digital tokens on a blockchain, making them easier to store and track. 

For this project, Bank Pekao is digitizing famous Polish artworks, like those by Jan Matejko and Stanisław Wyspiański, using advanced 3D scanning technology. These digital versions are then stored as non-fungible tokens on the eco-friendly Aleph Zero blockchain, ensuring their long-term preservation.

Arctic World Archive

The tokenized artwork will also be archived in the Arctic World Archive, a facility in Svalbard, Norway, designed to protect important data from threats like cyberattacks and natural disasters. The AWA is known for storing cultural and scientific data from organizations like UNESCO and the Vatican, according to an Archiv3 release.

The bank hopes that by using a decentralized ledger, the artworks will remain safe and accessible for future generations, even in the event of a global catastrophe.

This initiative reflects a broader trend of integrating traditional banking with modern technologies like blockchain, opening new avenues for digital asset management.

Earlier, on Oct 2, Christie’s announced plans to use blockchain technology to issue blockchain-based ownership certificates for art sold at auction.

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Theo Crypto News

DeFi

Trump: America will become crypto capital through World Liberty Financial

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Former U.S. President Donald Trump announced his plan to make America a “crypto capital” through his new project, World Liberty Financial.

“I promised to Make America Great Again, this time with crypto. [World Liberty Financial] is planning to help make America the crypto capital of the world!” Trump posted on X. He invited eligible people to join a whitelist.

On Sept. 16, Trump launched World Liberty Financial with the goal of disrupting traditional finance and offering decentralized finance as an alternative. 

The project offers borrowing and lending services and aims to be more user-friendly and accessible than existing DeFi platforms. The project will reportedly sell most of its WLFI tokens to accredited U.S. investors.

World LibertyFi’s skepticism 

The launch sparked excitement, with some analysts predicting a boom in its token value. However, the project is drawing skepticism, with experts warning of potential red flags.

One concern is that Chase Herro, who leads World LibertyFi, was previously involved in a failed crypto project, Dough Financial, which suffered a $2 million exploit.

Another major issue is that 70% of World LibertyFi’s tokens will be reserved for insiders, including Trump and his team, leaving only 30% available for public sale. 

This high level of insider ownership could create price instability if insiders decide to sell their stakes. Additionally, the SEC could scrutinize the project, as tokens are often classified as securities.

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Theo Crypto News

Phân tích

Mantra forms bearish divergence ahead of mainnet launch

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Mantra, the popular blockchain network for real-world asset tokenization, rose for three consecutive weeks, paring back the losses it made in July and August.

Mantra (OM) rose to a high of $1.24, its highest level since July 29, and 13% below its all-time high of $1.4145. It has been one of the best-performing cryptocurrencies, having surged by over 4,000% from its January lows.

Mantra’s rally has been driven by the growing demand for real-world asset tokenization, which is widely regarded as the next big thing in the crypto industry. For example, Ondo Finance (ONDO), a key player in the industry, has attracted over $600 million in assets.

Similarly, Blackrock’s BUIDL fund has attracted over $500 million in assets, while the Franklin OnChain US Government Money Market Fund holds $427 million.

Mantra has also jumped due to its strong staking yield of 22.2%, which is higher than that of most cryptocurrencies, including (SOL) and Ethereum (ETH).

Mantra staking yield | Source: StakingRewards

The most recent catalyst for Mantra’s surge is the upcoming launch of the Wallet mainnet. This is a significant development as the network aims to become the preferred ledger of record for real-world assets.

The chain will feature a verifiable network for security and stability, with institutional-grade capabilities that allow companies of all sizes to deploy capital efficiently. Additionally, the chain will provide global access to tokens by bridging traditional finance and decentralized finance.

Although the final date for the Mantra Chain launch has not been revealed, developers have hinted that it will happen in October. Cryptocurrencies often rally ahead of a major event with the risk of a pull back afterward.

Additionally, OM token has jumped because of the ongoing Mantra Zone competition where winners will share 50 million tokens currently valued at over $60 million.

Mantra targets all-time high

Mantra price chart | Source: TradingView

On the weekly chart, Mantra recently retested the important support at $0.8828, which coincided with its highest swing in 2021. A break and retest is one of the most popular continuation signals. OM has remained above the 50-week moving average, indicating that bulls are in control.

However, the Percentage Price Oscillator and the Relative Strength Index have formed a bearish divergence pattern.

Therefore, Mantra will likely rise and retest its all-time high at $1.4145 before resuming its downward trend. Further gains will be confirmed if it flips that resistance level, which would invalidate the double-top pattern.

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Theo Crypto News