Asia Art Weekly News Bulletin – ISSUE 3 Week of 24 February 2025
Dubai Municipality has completed innovative sports fields in public parks, designed in collaboration with leading international companies, integrating modern art and eco-friendly construction to promote physical activity and community engagement.
(2) Christie’s first-ever AI sale angers some artists
Christie’s has launched its first-ever sale dedicated to artworks created with artificial intelligence (AI), riding the AI revolution wave — a move by the famed auction house that has sparked anger among some artists.
(3) Everbright Digital Pursues U.S. IPO On High Valuation And Little Revenue
Everbright Digital Holding Limited, a Hong Kong-based company providing digital marketing solutions for the metaverse, is seeking to conduct an IPO while facing significant customer concentration risk and rising administrative costs amid plans for expansion into other Asian markets.
(4) Ticket-sale call for event organisers after Digital Art Fair axed in Hong Kong
The Digital Art Fair in Hong Kong has been cancelled due to funding issues, coinciding with other major art events and highlighting the challenges faced by event organisers in the city’s competitive cultural landscape.
(1) Dubai Municipality completes design of sports fields in collaboration with leading international companies
(Photo Credit: Government of Dubai Media Office)
Dubai Municipality has announced the completion of a series of innovative sports fields across public parks, recreational facilities, and neighbourhood parks. Designed in collaboration with leading international companies in the sports, food, and services sectors, including PepsiCo, Red Bull, Deliveroo, Puma, and Intercontinental Tyres, these sports fields reflect Dubai’s vision of creating diverse, engaging, and sustainable urban spaces.
The newly designed sports fields have been developed in key locations, including Mankhool Park, Uptown Mirdif Park, Hor Al Anz, Al Satwa, Al Barsha Lake, Al Jafilia Square, and Al Warqa Park. By integrating modern art into sports field design, Dubai Municipality has created multi-purpose spaces that encourage physical activity, artistic expression, and community engagement. These sports fields serve as cultural and recreational landmarks that contribute to Dubai’s dynamic urban landscape.
Each sports field features a unique, contemporary design that combines artistic creativity with high-quality sporting infrastructure. The courts incorporate distinctive artwork, including hand-painted designs by local and international artists, reflecting the spirit of Dubai’s vibrant culture and sports scene. The designs also draw inspiration from the specific sports they accommodate, with eco-friendly construction and carefully selected artwork that enhances the natural surroundings, fostering a spirit of healthy competition.
News Source: https://www.mediaoffice.ae/en/news/2025/february/23-02/dubai-municipality-completes-design-of-sports-field
(2) Christie’s first-ever AI sale angers some artists
(Photo Credit: EPA-EFE)
Christie’s has launched its first-ever sale dedicated to artworks created with artificial intelligence (AI), titled “Augmented Intelligence,” featuring about 20 pieces and running online until 5 March 2025. This marks a significant move by the famed auction house, which has previously offered AI-created items but never devoted an entire sale to this medium. Christie’s head of digital art sales, Nicole Sales Giles, noted that AI has become more prevalent in daily life, making it easier for people to appreciate its role in creative fields.
The collection includes paintings, sculptures, photographs, and giant screens displaying entirely digital works. Among the highlights is Emerging Faces by US artist Pindar Van Arman, a series of nine paintings created through a “conversation” between two AI models. However, the sale has sparked controversy, with an online petition gathering over 6,300 signatures, claiming that many works were created using AI models trained on copyrighted material without a licence, contributing to the “mass theft of human artists’ work.”
Several artists have filed lawsuits against generative AI start-ups for violating intellectual property laws. While some artists, like digital art heavyweight Refik Anadol, defend the sale by highlighting that they use their own datasets and models, others argue that pieces should be excluded if they do not utilise the artist’s own software or data. The debate reflects a broader discussion about the ethics and implications of AI in the art world, where traditional practices are increasingly intersecting with technology.
News Source: https://www.taipeitimes.com/News/biz/archives/2025/02/23/2003832333
(3) Everbright Digital Pursues U.S. IPO On High Valuation And Little Revenue
(Screenshot of the SEC F-1 registration statement)
Everbright Digital Holding Limited, a Hong Kong-based firm, has filed proposed terms for a U.S. IPO, facing significant customer concentration risk as three clients account for 58% of its revenue. The company’s primary offerings include Metaverse stimulation; virtual reality design and creation; augmented reality design and creation; and IP character creation. The company plans to expand into other Asian markets, raising concerns about its focus on its home market. Everbright’s business model, acting primarily as a project coordinator with limited in-house capabilities, lacks defensibility against intense competition.
Founded to create marketing campaigns for digital companies active in the metaverse or new forms of online media, Everbright has served over 20 corporate customers across various industries since its inception in 2021. However, administrative costs have risen significantly as revenue has plateaued, indicating declining efficiency in generating new revenue relative to administrative expenses.
Everbright is seeking to raise $6.75 million in its IPO, offering 1.5 million shares at a proposed midpoint price of $4.50. The company intends to use the net proceeds from the IPO for general corporate purposes.
News Source: https://seekingalpha.com/article/4762916-everbright-digital-pursues-us-ipo-on-high-valuation-and-little-revenue
(4) Ticket-sale call for event organisers after Digital Art Fair axed in Hong Kong
(Photo Credit: SCMP)
The Digital Art Fair, originally set to take place from 26 to 30 March 2025, at the West Kowloon Cultural District, has been cancelled due to “reasons beyond its control.” This cancellation coincides with other major art events in Hong Kong, such as Art Basel and Art Central, highlighting the competitive landscape of the city’s art scene. The organisers have assured ticket holders that they will receive full refunds automatically.
Hong Kong’s Culture, Sports and Tourism Bureau noted that the Digital Art Fair had applied for funding from the Mega Arts and Cultural Events Fund but was unable to provide sufficient information for the application to be evaluated. Consequently, the event could not secure the necessary financial support, and the bureau emphasised the importance of organisers securing adequate funding before ticket sales to prevent cancellations and refunds.
The Digital Art Fair, which debuted in 2021, had aimed to showcase a range of artworks, including NFTs and immersive experiences. The planned 2025 edition was expected to expand its offerings with both indoor and outdoor activities. The cancellation follows a pattern of recent event disruptions in Hong Kong’s cultural calendar, including the abrupt cancellation of the Creamfields festival, underscoring the challenges faced by event organisers in the region.
News Source: https://www.scmp.com/news/hong-kong/society/article/3299958/digital-art-fairs-2025-hong-kong-event-cancelled-just-1-month-start-date
