The State of

Art Market Innovation

Welcome to the first in-depth on the state of art market innovation. Please enter your email for the full report and enjoy our summary.
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ArtVenture is proud to present the first report focusing on the current state of innovation in art market, the adoption of technology and landscape of art-tech startups worldwide.
Dataset collected from Crunchbase and Angelist, and the survey conduced by New Art Academy.

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Key findings

What’s the state of art market innovation? Who are they? The full report will investigate three key issues in depth:
Provenance and authenticity tracking and ownership-registry
Art & Fintech solutions for art-related wealth management
Artificial Intelligence, blockchain and generative art
Each section will address how each innovation and technology can enable further growth of the art market and have the potential to address some major challenges faced by art industry today. At the end of each section, we will invite industry experts to contribute their opinion for validation as stakeholders.
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TABLE OF CONTENTS
01
Key Figures
02
Early stage of art market adoption: Majority of companies are still in early formation stage, with a handful of leading innovators.
03
Lack of investment: A tiny figure compared to art-related wealth, art market innovation demands further capital support to gain momentum.
04
New York City remain the hub of art market innovation. Positive outlook for Luxembourg with its booming fintech ecosystem and art & finance cluster.
05
Art market begin to converge online, with huge upside potential in art-related blockchain and wealth management solutions.

Key Figures: An Overview of the report

Best Art Tech Communities
1. New York
2. London
3. Luxembourg
# of Companies
182
Art Market Innovators
2500
Total Capital Raised
$608,000,000
Funding
182
Rounds
of funding

Early stage of art market adoption: Majority of companies are still in early formation stage, with a handful of leading innovators.

most Funded companies and total valuation
Company currently in seed stage
51%
with $1,173,000USD average seed funding, 71 companies still in seed stage. 15 company in series A, with an average $3,951,000USD.
Number of exit
6
5 company acquired: Paddle8, Thread Genius, Collectrium, Electric Objects, CultureLabel, Auction Club 1 IPO: 1stdibs

Lack of investment: A tiny figure compared to art-related wealth, art market innovation demands further capital support to gain momentum.

FUNDING VS. ART WEALTH ALLOCATION
Company only have 1 funding round
42%
Only 28% of company have over 2 round of funding.
Capital in art tech
.04%
capital invested in innovation compared to total art market wealth: with total 1.6 trillion dollar of wealth allocated into art.

New York City remain the hub of art market innovation. Positive outlook for Luxembourg with its booming fintech ecosystem and art & finance cluster.

Largest Innovation ecosystems
most active art tech community
NYC
Drawing on a unique combination of prosperous art market and active tech ecosystem, New York City remains the capital of art market innovation
most promising art & finance cluster
Luxembourg
Center of excellence in wealth management, with 62% global market share in cross-border investment funds. Luxembourg have created a promising art & finance cluster with booming fintech ecosystem.

Art market begin to converge online, with upside potential in art-related blockchain and wealth management solutions.

TYPES OF ART COMPANIES
Solution for art market accuracy and accessibility
Blockchain
Blockchain based provenance tracking and ownership registry powers art market with unparalleled trust. Fractional Ownership disrupt the barrier to entry in the art market.
Expected consolidation
Online Art Market
Growth of online art market have slowed down from 12% in 2017 to 9.8% in 2018. Online art market is expected a further consolidation coupled with increasing competition from traditional art gallery and auction house.
Next innovation frontier
Art and Fintech
With 1.6 trillion dollars of wealth allocated into art investments, new solutions to manage, and leverage art assets are required by financial Institutions and the growing community of collectors who are finding value in art beyond aesthetics.

Salute to all art market innovators

All art market startup directory
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