Auction house Artcurial is organising a first: the auctioning of 10 buildings and places in Cannes in the form of non-fungible tokens.
For the first time, ever, purchasers of immaterial goods using non-fungible tokens, more commonly referred to as NFTs, made from existing places in the real world will be able to make commercial or cultural use of them, after integrating them into a metaverse.
With the I Met My NFT project, the City of Cannes, the Pertimm Company and Artcurial, it will be possible, for example, to build buildings on the Croisette in the metaverse, to organise events at the Palais des Festivals et des Congrès, or to mount an exhibition at the La Malmaison Art Centre.
This event has been made possible due to a recent change in laws in France authorising auction houses to sell “intangible assets”.
NFTs are individual tokens with valuable information stored in them. Because they hold a value primarily set by the market and demand, they can be bought and sold just like other physical types of art. NFTs’ unique data makes it easy to verify and validate their ownership and the transfer of tokens between owners.
This allows a buyer to purchase a piece of digital artwork, or in this case, a site, on the internet at a reasonable price and get a unique digital token which proves the purchaser’s authority over the item bought.
The auction will take place on Tuesday 21st June at the Port Canto Harbour Masters Office on the Croisette, which coincidentally offers a panoramic view of the 10 sites going under the gavel.
“The sale of the collection of 10 NFTs from Cannes is an event with which we have decided to associate ourselves for its innovative aspect,” explained Arnaud Oliveux, Auctioneer and Associate Director, at Artcurial. “More than a simple sale of NFT, it is a future experience to live in the metaverse that we will offer to buyers and investors, a way to project themselves into another dimension but on the very real bases of 10 iconic places in the city of Cannes.”
Part of the total collected will be donated to the Cannes Endowment Fund and will be used to finance projects in favour of environmental protection.
Colombian artist creates unique mural during Monaco GP
On Saturday, whilst qualifying for the Monaco Grand Prix was taking place just a kilometre down the road, Colombian muralist Dast was creating a spectacular mural at the iconic Grimaldi Forum through a partnership with McLaren.
The mural was created through Vuse and McLaren F1’s partnership Driven by Change, which offers underrepresented artists around the world the opportunity to showcase their talent at elite motorsport events.
The Driven by Change campaign made its debut last year at the Abu Dhabi Grand Prix, where Rabab Tantawy, a female artist from the Middle East, was given the chance to create a special livery. This year, the project saw Jonathan Walker work with the McLaren F1 team in Miami, and Dast’s mural is the second piece to be created this year.
The Colombian artist, originally from Bogota, was chosen for the event due to his “passion for art” and the contrast between the glitz and glamour of Monaco, and the diverse natural geography of Colombia which allowed Dast to step out of his comfort zone. The result is a mural, which “explores the relationship between peoples, places and spaces.”
Inspired by the sounds of F1 cars, which reverberated around the streets of the Principality, Dast worked for 15 hours to create the final piece. He applied his signature geometric style to capture the aerodynamic design of McLaren F1 Team’s car, as well as its vibrant papaya and blue colour theme. a
“Having my work showcased at one of the most exclusive grand prix races and painting the mural in real-time on a canvas such as Monaco’s beachfront makes the opportunity even more special,” said Dast.
The mural has been gifted to McLaren and will continue to be showcased as part of the Driven by Change initiative. The project continues to use the visibility that motorsport brings to give otherwise undiscovered artists a chance to shine on a global stage.
The Société des Bains de Mer (SBM) secured almost €200 million more in turnover last financial year, signalling strong recovery for Monaco’s largest company and the region’s most important employer.
For 150 years, the Société des Bains de Mer (SBM) has been one of the leading players in the gambling and casino businesses in Europe, and number one in the luxury tourism market in Monaco. The company, which employs over 4,000 staff within Monaco, Italy and France, runs the Principality’s most prestigious hotels, including the Hôtel de Paris and the Hôtel Hermitage, the most famous Michelin star restaurants, from Le Louis XV – Alain Ducasse to the Pavyllon by Yannick Alléno, as well as spas, nightclubs, and of course, gaming locations like the Casino de Monte-Carlo.
So, when the global pandemic hit, SBM’s activity went into freefall.
At a press conference on Tuesday morning, SBM CEO Jean-Luc Biamonti revealed a very encouraging financial report for the year 1st April 2021 to 31st March 2022. Figures show that, despite the ongoing impact of Covid-19, the company managed to achieve a turnover of €530.5 million, an increase of 57% on the previous year which garnered €336.9 million.
“Even though activity in the first quarter of 2021 (April to June) remained strongly impacted by the health crisis, like the Rolex Monte-Carlo Masters being held behind closed doors, or heavy restrictions on the Formula 1 Grand Prix, the summer season (July to September) saw a resumption of activity,” said Jean-Luc Biamonti. “The second half of the year confirmed the positive trend we saw in the summer period. Although a slowdown in activity was recorded in December 2021 and January 2022 with the arrival of the fifth wave, the favourable trend was again confirmed in February and March 2022.”
While the first quarter of 2020/21 was heavily marked by the temporary closure of almost all establishments in Monaco due to Covid, no such measures were applied last year. As a result, significant gains were witnessed in the gaming sector, which achieved a turnover of €200.8 million against €124.3 million in 2020/2021. However, figures are still down 16% compared to the 2019/2020 financial year.
With the return of tourists came a bounce in hotel revenue, amounting to €213.3 million against €109 million the previous year.
Photo of the Monte-Carlo Bay Hotel and Resort, photo by Cassandra Tanti for Monaco Life
Over the past 10 years, the Monte-Carlo Société des Bains de Mer Group has been developing its property leasing business. So, in addition to its historic portfolio of retail spaces for luxury brands, the company is offering residential properties with high-end hotel services, including the Résidence du Bay, Résidence du Balmoral, Les Villas du Sporting and the One Monte-Carlo.
The move is definitely paying dividends, with the rental sector, which includes retail and office rental activities as well as hotel residences, presenting a turnover of €117.6 million. Less impacted by the pandemic, this sector saw an increase of 11% on the previous year.
“This is mainly due to the increase in residential rental activity following the implementation of progressive rental of the One Monte-Carlo apartments and the non-renewal of discounts that had been granted to shop tenants during the closure period of April 2020,” revealed the SBM CEO.
Meanwhile, the “other activities sector” posted revenue of €9.3 million compared to €4.6 million the previous year, up €4.7 million.
Photo of One Monte-Carlo by Cassandra Tanti for Monaco Life
In March 2021, as SBM grappled with the effects of the pandemic, it implemented a global restructuring plan that included, most significantly, a small number of voluntary redundancies for those aged over 57.
“The announced objective of reducing annual expenses by €25 million resulting from the restructuring plan and reductions in operating expenses has been achieved,” said Biamonti.
The operating profit of the SBM therefore was €35.4 million compared to an operating loss of €103.3 million the previous financial year.
The only negative financial result was seen in its stake in the online gaming group Betclic Everest, which amounted to -€5.2 million for the 2021/2022 financial year, compared to a loss of -€7 million for the 2020/2021 financial year.
It means that, at the end of March 2022, SBM was back in the black with a net positive of €30 million against a net debt of €129.9 million the previous year.
Top photo of Jean-Luc Biamonti by Claude Ingargiola
Video interview: New award to honour F1 team making “positive impact”
The Monaco Grand Prix was the backdrop for the launch of a new Grace Influential Positive Impact Award, created by the Princess Grace Foundation USA and supported by Prince Albert II and Formula 1.
The lead up to the Grand Prix weekend was the ideal moment to reveal the new Grace Influential Positive Impact Award, an annual prize given to the Formula 1 team who makes the greatest efforts to effect change in a positive way during the course of a year.
An event was held on the Azzurra II in Port Hercule on 27th May where Prince Albert II and Formula 1 owner and CEO of Liberty Media, Greg Maffei, both attended the momentous occasion.
“Formula 1 has set out an ambitious sustainability strategy to forge a path to be completely carbon neutral by 2030, not only within our organisation but also including our global venues and race attendees,” said Maffei. “It is a pleasure for us to support the Grace Influential Positive Impact Award to recognise and amplify all of the efforts made by the teams.”
Brisa Carleton, CEO of the Princess Grace Foundation and Grace Influential added, “This new Grace Influential Impact Award is a key pillar of our commitment to introduce Princess Grace’s legacy of positive change to new generations. We look forward to recognising each Formula 1 team’s unique efforts toward positive societal impact and what better place to celebrate this important work than in Monaco.”
The accolade has been created in conjunction with Dr Christina Pace. The winner of the first award will be announced at a dedicated ceremony during the Monaco Grand Prix 2023, decided by a group of jurists that will include motorsport leaders, celebrities active in positive impact, and a selection of youth judges.
Grace Influential is a global initiative honouring the memory of Princess Grace who, as a philanthropist herself, was credited with spreading that spirit to those in the Principality, as well as abroad. Through a series of global partnerships, new generations will have the opportunity to be inspired by her ongoing influence and impact.
For more info on the future Positive Impact Award or on Grace Influential, visit the website at www.graceinfluential.com
Monaco Life welcomed Brisa Carleton for an interview with Editor in Chief Cassandra Tanti onboard Friendship during the Monaco Grand Prix weekend, see the video below…
Top photo left to right: Formula 1 owner and CEO of Liberty Media Greg Maffei, Princess Grace Foundation USA CEO Brisa Carleton, and Prince Albert II of Monaco, by Fabbio Galatioto
Italy’s version of a Covid-19 vaccine pass will no longer be required for entry into the country from 1st June, allowing travellers free and easy access as the summer season ramps up.
The Italian government announced on Monday that it will not be renewing the Covid ‘Green Pass’ requirement when it expires on 31st May, giving tourists impetus to return to one of Europe’s summer hotspots unimpeded this year for the first time since summer 2019.
The pass required proof of vaccination, a negative test result or recent recovery from the virus before being allowed entry to the nation.
This move is significant, as Italy was one of the first and hardest hit countries when the coronavirus took hold of Europe in early 2020, leading to a raft of tough restrictions, including the Green Pass.
Now, as case numbers, deaths and hospitalisations continue to drop and much of the population are vaccinated, the easing of regulations is a natural step in the country’s recovery, though a few rules, such as masks on public transport and in schools are still required.
Italy’s new case count was a mere 7,846 on Monday, a steep and steady drop since highs of over 228,000 per day in mid-January.
The prestigious supercar show Top Marques will this year feature over 50 of the world’s rarest and most beloved sports cars from the 1950s to the 90s, alongside its impressive line-up of luxury contemporary toys.
Top Marques has been dazzling visitors for 17 years with its astounding array of supercars and prototype models, giving car enthusiasts drooling material to last them for months.
Now, there is even more reason to check out the iconic car show. The organisers of Top Marques have announced they are adding a classic car department to the show, giving them a massive 3,000m2 space for viewing the best of the past.
Collectors will be able to see, and purchase, over 50 of the world’s rarest and most beloved sports cars from the 1950s to the 90s, offered by leading dealers from all over Europe.
The new department will be launched in collaboration with Retromobile and Boutsen Classic Cars, the company founded by former Formula 1 driver Thierry Boutsen. Some of the highlighted vehicles include a Maserati 3500GT Superleggera from 1960, a 1960 Ford Shelby GT40 listed on the Shelby American World Registry, and a Ferrari 512TR dating from 1992.
At the Dream Car Performance stand, car buffs can check out a Lamborghini Diablo GT-RS driven by Le Mans driver Gérard Larousse, a Jaguar XRJ 15, which took first place in Monaco in 1991, and a Ferrari F40.
Ferrari lovers will be captivated by, amongst other rarities, the 1974 Ferrari 246 GTS Dino and a Ferrari 365 GTC from 1969, as well as a Bizzarrini 5300 GT Strada from 1967 on display from Swiss dealer Rebellion Motors.
Other exhibitors in Top Marques’ classic car section will include DPM Motors, Brabus Classic, British and Sportscar, Monaco Luxury, LRS Formula, and the Cars Collection of Prince Albert of Monaco.
Top Marques opens to the general public on 9th June from 12pm to 7pm, then goes from 10am to 7pm on 10th and 11th June, ending on 12th June after a 10am to 6pm run. There is also a VIP cocktail event on 8thJune from 8pm to 11:30pm, but tickets are limited.
