Food for Thought: Connecting the $2T in Art owned by UHNW investors, with the rise of crypto art and Beeple's $3.5MM NFT digital art auction
Hi Fintech Architects,
A few delicious morsels for us today, connecting ideas between the automation of the institutional art world, and the rise of non-fungible token art. We are surprised by how things are clicking.
We caught up recently with Lori Hotz of Lobus. Lori used to work in the wealth and investment management businesses of Wall Street (Lehman, Lazard) and comes to art with a background of asset allocation and investment assets. One core narrative in wealth management has of course been roboadvisors and digital wealth, and the automation of the financial advisor process. Whether you are doing client experience, CRM, financial planning, trading, or performance reporting, there are now lots of platforms for everyone from mass-retail to ultra-high-net-worth and family office advisors.
Anyway. Lori ended up moving into being a COO of Christie's Post-War & Contemporary Art department, a $1B+ revenue business. The insight from her work there (to me) is that there (1) art is an inve…