admire announces the launch of its avant-garde marketplace for contemporary artists’ NFTs. This unique and ethical French platform aims to revolutionize the world of digital art by providing established artists with the opportunity to offer original, authenticated, and non-fungible digital creations to collectors worldwide. Open to art enthusiasts and seasoned collectors alike, admire.art has already gained support from globally renowned galleries and artists.
NFTs: A New Territory of Creation and Exchange for Contemporary Artists
The rise of Non-Fungible Tokens (NFTs) has opened up a new territory of expression and exchange in the art world by enabling the digitization and tokenization of unique artworks. According to the annual reports by Art Basel and UBS Global Art Market, the NFT market experienced rapid growth in 2021, with a total market value of approximately 18 billion dollars, out of which 2.6 billion dollars were related to art.
However, the opportunities provided by this technology have largely been reserved for “insiders,” often excluding artists and traditional market players. “admire is changing the game by launching the first NFT marketplace dedicated to established artists and top-tier art galleries representing them. For collectors worldwide, admire.art offers the opportunity to acquire exclusive digital artworks from renowned artists, authenticated by prestigious galleries,” said co-founder Mickaël Yana.
An Ambition: Democratizing Access to Traditional Art Market Players with New Digital Technologies
admire’s marketplace positions itself as a unique professional platform with the aim of offering original digital creations for purchase from artists selected by experts from internationally established galleries, including Templon, Opera Gallery, Almine Rech Gallery, Zidoun-Bossuyt, and Galerie Strouk, who immediately embraced the project. These artists, such as Ron Arad (average art selling price $114K), Manolo Valdés ($194K), and Li Tianbing ($100K), have already gained international recognition for their significant contributions to contemporary art.
Through this marketplace, admire aims to create a bridge between technology and contemporary art, allowing art and technology enthusiasts to discover and acquire authentic NFTs from recognized artists. The strength of this project is emphasized by Mathieu Templon, Templon New York: “There is undoubtedly a change in the world of contemporary art with the explosion of the digital realm. We have early on recognized this transformation in our market, notably by being pioneers in virtual viewing rooms, platforms for exhibitions open to all. Our use of the admire.art platform naturally aligns with our approach rooted in innovation and exploration of new territories in art. This initiative offers a borderless exhibition space for all artists and a fantastic opportunity for art enthusiasts and seasoned collectors to embrace digital creation with all the guarantees of security and authenticity.”
Security, Authenticity, Compliance: A Commitment to Exemplary Standards
NFTs have stormed the digital world, revolutionizing how individuals can now own and exchange unique digital assets. This revolution brings forth abundant opportunities but also raises acute concerns regarding transparency, security, and compliance. Once again, admire sets itself apart.
While transactions on many marketplaces suffer from a lack of transparency, admire establishes a fair model by setting two fees associated with transactions—one for the platform and another for the artists. This policy applies without distinction to the primary market (initial sale of the artist’s original creation through their gallery), exclusively reserved for galleries, or the secondary market (resale of the original creation by buyers at any time at a free-market price)
admire.art also offers a secure and user-friendly experience for art enthusiasts and collectors, who can easily discover artists, buy, and resell their NFTs. To establish this framework of trust, admire has chosen the open-source third-generation blockchain technology, Tezos, which is carbon-neutral and energy-efficient due to its proof-of-stake consensus mechanism. This technology ensures ownership and origin of the artworks, mitigates the risk of falsification, provides robust security, and minimizes carbon footprint.
The new admire marketplace also distinguishes itself through compliance with Know Your Customer (KYC) standards. Users will be required to provide verifiable identification information, ensuring a secure and reliable experience. This approach ensures that only verified users can participate in the buying and selling of NFTs, protecting artists and collectors from harmful practices such as money laundering and market manipulation through fake accounts. To address these issues, admire has chosen to collaborate with leading technology partners such as Onfido for identity verification and compliance with anti-money laundering standards, Apriorit for code auditing, and Nomadic Labs for code review.
In terms of tax collection, admire is committed to collecting and remitting taxes associated with each transaction in accordance with the regulations applicable to the relevant jurisdictions. The issuance of an invoice for each transaction is also standardized.
Launch on June 27th at the NFT Factory: Where Traditional Art Meets Web3!
The NFT Factory, a renowned hub for supporting innovation, will host the official launch of this unique marketplace. This event, taking place on June 27, 2023, at 4 PM, will bring together influential figures from the art and technology realms.
Artists, galleries, collectors, art enthusiasts, and passionate individuals,
admire is the first digital platform dedicated to providing a professional solution for top-tier galleries and artists to enter the world of NFTs. Its mission is to create a marketplace for artworks created by world-renowned artists, catering to collectors. admire aims to bridge the Web3 and traditional art worlds by creating a safe and ethical space to buy and sell NFT artworks by recognized artists.