ING supports blockchain-based ecosystem for digital art

WUNDER has completed the first digital art-backed assets transactions using the Patron Protocol on blockchain technology. The ING Collection in Amsterdam purchased one of the first fractional ownership shares, representing 12,5% ownership in a master copy from the video art work by the Romanian artist Dragos Alexandrescu.

Source: ING supports establishing a blockchain-based ecosystem for digital art to empower artists and to make art accessible for a large audience – ArtMarketGuru

RightsTech Extra

AI Companies Get the Picture

By Paul Sweeting

One of the biggest challenges facing copyright owners in grappling with the rapid development of generative AI technology, apart from a murky legal status, has been market failure, as discussed here in previous posts. The amount of existing material needed to train gen-AI models is so great, and so varied, that gauging the value of any one piece of it to establish a market price for it for licensing purposes is often effectively impossible. One group of rights owners is finding willing buyers among AI companies, however. An active, albeit for various reasons mostly sotto voce market has begun to emerge for the use of images held in large photo archives and by photo agencies and social media platforms, complete with per-unit industry and at least a nod toward creator attribution... Read More >>

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