Swiss digital asset bank Sygnum has teamed up with art investment outfit Artemundi to tokenise a Picasso painting, giving investors the chance to purchase and trade shares in the work.
Sygnum is broadcasting the ownership rights to the painting, Fillette au béretn, onto the public blockchain, enabling investors to buy and trade Art Security Tokens (ASTs) in the work.
The painting is priced at CHF four million. The 4000 tokens can be subscribed directly through Sygnum’s e-banking platform, with a minimum subscription of CHF 5000. Token holders will have their ownership share in the painting fully recognised under Swiss law.
Transactions will be settled in Swiss Francs, using Sygnum’s digital CHF stablecoin. All tokens are tradeable on SygnEx, Sygnum’s digital asset trading platform.
Sygum says that tokenisation lowers the barriers to art investment and opens-up the market to a broad range of new investors.
Mathias Imbach, CEO, Sygnum, says: "The tokenisation of the Fillette au béret exemplifies how we bring our mission to reality, unlocking a universe of unique investment opportunities that can be made accessible to many."