The global art market stands at a fascinating crossroads in 2025, experiencing both unprecedented challenges and remarkable opportunities. With an estimated value of $57.5 billion in 2024—marking a 12% decline from previous year yet maintaining robust transaction volumes—the contemporary art and antiques market reflects a complex ecosystem undergoing profound transformation. This comprehensive analysis explores the historical foundations, current market dynamics, emerging trends, and future projections that will shape this multibillion-dollar industry. “The art market is experiencing its most profound transformation since the Renaissance. We’re witnessing the democratization of a traditionally exclusive world, where blockchain authentication meets centuries-old craftsmanship, and AI algorithms help us understand artistic value in ways our predecessors could never imagine. The future belongs to those who can bridge the digital divide while preserving the human soul of art.” – Elena Volodina, Founder of VOLODINA.Lab Historical Foundations: From Renaissance Patronage to Modern Markets The Genesis of Art Commerce The art market’s evolution spans millennia, with its modern incarnation tracing back to Renaissance Florence, where the Medici family pioneered systematic art patronage. The transition from commission-based acquisition to secondary market transactions began in the 16th century, establishing the foundational framework for today’s complex marketplace. The 19th century marked a pivotal transformation, driven by Industrial Revolution prosperity that democratized art acquisition beyond aristocratic circles. London emerged as the epicenter of this evolution, with auction houses like Christie’s (established 1766) and Sotheby’s (1744) creating structured platforms for art commerce. The Antiques Market Evolution The antiques market experienced its golden age during the 19th century’s retail boom, when shopping became London’s “greatest contribution to the nineteenth century”. Department stores like Harrods began incorporating antiques into their luxury offerings, while the emergence of “bric-a-brac” markets democratized access to historically significant objects. This period established the fundamental dichotomy between luxury antiques and accessible collectibles—a dynamic that continues to influence market segmentation today. Contemporary Market Landscape: A Study in Contrasts Market Size and Performance Metrics The contemporary art market demonstrates remarkable resilience despite recent volatility. Global art market sales totaled $57.5 billion in 2024, representing a 12% decline from 2023 levels, yet transaction volumes increased by 3% to 40.5 million individual sales. This paradox reveals a critical shift: while high-end sales have contracted, lower-priced segments are experiencing unprecedented growth. The Art Basel and UBS Global Art Market Report 2025 identifies several key performance indicators: United States: Maintains market leadership with 43% global share ($27.2 billion) United Kingdom: Reclaimed second position with 18% share ($10.4 billion) China: Experienced significant contraction to 15% share, declining 31% year-over-year Digital Transformation and Online Sales The digital revolution has permanently altered art market dynamics. Online sales now represent 18% of total market value, maintaining stability from pandemic peaks while remaining 76% above pre-2019 levels. This digital infrastructure has democratized access, with nearly half of all new auction clients acquired through online channels. Platforms utilizing artificial intelligence for valuation and authentication are revolutionizing traditional appraisal methods. AI-powered market analysis processes millions of auction records instantaneously, providing collectors with unprecedented insights into artwork valuation and market trends. Segment Analysis: Contemporary vs. Antiques Contemporary Art Market Dynamics The contemporary art segment faced significant headwinds in 2024, with auction sales declining 36% to $1.4 billion—the lowest level since 2018. The “Young Contemporary” subsector proved particularly vulnerable, with emerging artists experiencing sales declines exceeding 45%. However, established contemporary works demonstrated greater resilience. Post-war and contemporary art from blue-chip artists maintained relatively stable performance despite market pressures, indicating collector flight-to-quality behavior. Antiques Market Resilience The antiques market has shown remarkable stability compared to contemporary segments. Traditional collecting categories continue attracting dedicated collector bases, with provenance and historical significance driving sustained demand. The integration of blockchain technology for authentication is revolutionizing antiques verification, addressing centuries-old challenges of provenance documentation. Technological Disruption and Innovation Blockchain Authentication Revolution Blockchain technology is solving centuries-old authentication problems by creating immutable digital certificates for artworks. Platforms like Verisart and Artory utilize distributed ledger technology to establish tamper-proof provenance records, with each artwork receiving a unique digital token containing comprehensive historical data. This technological advancement addresses the FBI’s estimate that art crime ranks as the third-highest-grossing criminal enterprise worldwide, behind only drugs and arms trafficking. AI in Art Creation and Valuation The global AI art market reached $3.2 billion in 2024 and projects explosive growth to $40.4 billion by 2033, representing a compound annual growth rate of 28.9%. AI applications span creation, valuation, and market analysis, with 29% of digital artists currently incorporating AI into their creative processes. NFT Market Evolution Despite earlier volatility, the NFT art market is experiencing renewed growth, expanding from $3.30 billion in 2024 to a projected $45.97 billion by 2033. This represents a 34% compound annual growth rate, driven by mature collectors prioritizing utility-driven and sustainable digital assets. Regional Market Dynamics Geographic Distribution and Performance The art market’s geographic concentration remains pronounced, with the US-UK-China triad controlling approximately 76% of global market value. However, regional performance varies significantly: North America leads with sophisticated infrastructure and millennial collector engagement driving 22% of global NFT market share. The region benefits from established financial markets and robust digital adoption. Asia-Pacific demonstrates the fastest growth trajectory, particularly in cryptocurrency adoption and metaverse integration. Countries like Japan showed resilience with modest 2% growth in 2024, contrasting sharply with regional declines. Europe maintains traditional market strength while adapting to digital transformation, with the UK’s resilient performance offsetting continental European challenges. Collector Demographics and Behavioral Shifts Generational Market Dynamics Collector behavior varies dramatically across generational cohorts, fundamentally reshaping market dynamics: Generation X emerges as the highest-spending demographic, averaging $145,000 for paintings compared to $108,000 for millennials. This cohort demonstrates preference for traditional mediums and established artists. Millennial collectors lead in total art expenditure, with 30% spending over $1 million annually and average purchases of $228,000. They demonstrate strong digital adoption, with 69% making online purchases and 92% using Instagram for art-related activities. Generation Z revolutionizes entry-level collecting, with 89% attracted to prints by emerging artists and 46% investing in established artist editions. Their preference for street art and photography indicates significant genre diversification potential. Female Collectors and Artists The market is witnessing unprecedented growth in female participation. Women collectors now spend more annually than male counterparts, with median spending of $72,500 compared to male collectors. Female artists’ market representation

The latest Forbes data on billionaire wealth origins reveals more than just numbers—it exposes the economic, cultural, and political forces that shape how fortunes are built. Why do some nations produce self-made tycoons while others remain dominated by inherited dynasties? And what does this mean for the future of global wealth? 1. Why Are Some Countries Self-Made Billionaire Factories? Geography of Self‑Made Billionaires Geography of Self‑Made Billionaires Neutral base, constrained accents: Russia & China (97%), United States (73%), Germany/Italy/Spain (25–26%). Russia, China — 97% United States — 73% Germany, Italy, Spain — 25–26% Minimal palette: grayscale base + one assertive red + two dark accents for separation [12][5][8][4][7]. A. Disruption & Economic Transformation (Russia, China, U.S.) Russia’s 97% self-made rate reflects the chaotic privatization of the 1990s, where oligarchs emerged from the ashes of the Soviet collapse. China’s 97% self-made billionaires stem from its explosive capitalist boom—tech (Alibaba, Tencent), manufacturing, and real estate created new wealth almost overnight. The U.S. (73% self-made) thrives on Silicon Valley’s innovation, venture capital, and a culture that rewards risk-taking. Key Insight: Rapid economic shifts create opportunities for self-made wealth, while stable economies favor inheritance. B. Weak Institutions = Faster Wealth Accumulation? In some emerging markets, lax regulations, corruption, and weak rule of law allow aggressive entrepreneurs to amass fortunes quickly—but often at the cost of inequality. 2. Why Does Europe Favor Inherited Wealth? Self‑Made vs Inherited Self‑Made vs Inherited Share of billionaires by origin of wealth 💼 Self‑made 👑 Inherited A. “Old Money” Systems Germany (75% inherited), France (56%), Italy (64%) have centuries-old family businesses (automotive, luxury goods, banking). Strong labor & tax laws make it harder to build new empires but protect existing ones. B. Cultural Attitudes Toward Risk Europe’s social safety nets discourage extreme risk-taking compared to the U.S. or Asia. Key Insight: Stability preserves wealth but stifles disruption. 3. The Future of Billionaire Wealth Sources of Wealth — Minimal Sources of Wealth 💼 Self‑Made Tech 42%, Finance 28%, Manufacturing 18%, Other 12% 👑 Heirs Real Estate 45%, Industry 30%, Resources 15%, Finance 10% Tech vs. Legacy Industries: Will AI and crypto create a new wave of self-made billionaires? Wealth Taxes & Inequality Backlash: Governments may target inherited wealth more aggressively. The “Asian Century” Effect: If China & India keep rising, self-made billionaires could dominate global rankings. Final Thought This isn’t just about money—it’s about opportunity, mobility, and power. The data shows that wealth can still be built from nothing, but the window may be closing in some places. iVenturer’s “DeepTalk” Podcast by Medialectica Episode 28: “Self-Made vs. Inherited Wealth: The Hidden Forces Behind Billionaire Fortunes” Browse “DeepTalks” Episodes

The iVenturer Foundation is dedicated to driving positive change through strategic initiatives that empower communities and foster innovation. Our work is rooted in the belief that sustainable development and social progress are achievable through collaborative efforts and a forward-thinking approach. Since our inception, we have focused on a range of key areas, from education and technology to environmental stewardship and economic empowerment. This has enabled us to make a tangible impact on the lives of countless individuals and communities around the world. As we look to the future, we are committed to building on this foundation, expanding our reach, and pioneering new solutions to the most pressing global challenges. This article provides a comprehensive overview of the iVenturer Foundation’s impact to date and outlines our vision for the future, highlighting the key strategies and initiatives that will guide our work in the years to come. iVenturer Foundation: Our Impact & Future Driving innovation and positive change through strategic philanthropy and investment in future-forward solutions. Our Mission & Vision The iVenturer Foundation is dedicated to fostering groundbreaking advancements in key areas that promise to shape a better future. We believe in empowering innovators, supporting impactful research, and building sustainable ecosystems for long-term societal benefit. “Investing in today’s bold ideas for tomorrow’s sustainable world.” About Alexey Olin, Founder & Visionary The iVenturer Foundation was established in **early 2020** by **Alexey Olin**, a visionary entrepreneur and respected figure in the tech and venture capital landscape. Having built and successfully exited several pioneering digital infrastructure companies, Alexey recognized the profound potential of strategic philanthropy to accelerate solutions for pressing global challenges. His initial endowment of **$10 million** laid the groundwork for the Foundation’s ambitious mission. Alexey’s philosophy centers on **”Impact-First Innovation”**, a principle that guides every investment and grant decision. He advocates for a proactive, data-driven approach to philanthropy, seeking out projects with measurable outcomes and clear pathways to scalability. His personal involvement in selecting and mentoring early-stage initiatives has been instrumental in the Foundation’s rapid growth and influence. Beyond financial commitment, Alexey has championed the creation of **cross-sector collaborations**, bridging the gap between cutting-edge technology, academic research, and grassroots community needs. His vision is not merely to fund projects, but to cultivate an ecosystem of like-minded problem-solvers dedicated to building a resilient and equitable future. Key Initiatives Sustainable Technologies Fund Supporting R&D and deployment of clean energy, waste management, and sustainable agriculture solutions, targeting a 15% annual reduction in emissions for funded projects. Environment Active Projects: 12 Future Education Program Funding access to cutting-edge digital literacy, STEM, and entrepreneurial education for underserved communities. Aiming for 80% program completion rate and 60% employment within 6 months. Education Beneficiaries: 5,000+ Healthcare Innovation Grants Grants for disruptive medical research, digital health platforms, and accessible healthcare solutions. Targeting 2-3 breakthroughs or clinical trials initiated annually. Health Research Projects: 8 Community Empowerment Hubs Establishing local centers to provide resources, training, and support for community-led development, with a goal of increasing local economic activity by 10% in supported areas. Community Hubs Established: 4 Global Footprint & Impact Allocation by Region (2024-2025) *Data reflects philanthropic grants and impact investments over the past two fiscal years, totalling **$8.5 Million** in 2024-2025. Impact Metrics (Cumulative) Lives Positively Impacted 150,000+ Through access to education, healthcare, and sustainable living initiatives. Target: 250,000 by 2027. Carbon Emissions Offset (tons) 2,500+ Via investment in renewable energy projects and sustainable practices. Goal: 5,000 tons by 2026. Educational Scholarships Awarded 500+ Supporting students in STEM fields and vocational training. Target: 1,000 by 2026. Project Success Rate *Success rate measured by achieving predefined milestones and impact targets. Future Outlook & Partnership Strategic Focus Areas (2026-2030) AI for Good: Ethical AI development for social challenges, with a focus on **explainable AI** and **bias mitigation**. Circular Economy: Projects promoting resource efficiency and waste reduction, targeting **zero-waste manufacturing** and **sustainable supply chains**. Digital Inclusion: Bridging the digital divide in developing regions through **affordable internet access** and **community tech hubs**. Personalized Health: Advanced diagnostics and preventative care, exploring **genomic medicine** and **AI-driven diagnostics**. These areas align with the long-term vision set forth by Alexey Olin and the Foundation’s board. Partnership Opportunities We welcome collaboration with like-minded organizations, corporations, and individuals who share our commitment to transformative impact. Our partners contribute through funding, expertise, technology, and volunteer support, forming a crucial part of our global network. Over **25 strategic partnerships** have been forged since 2020. Partner with Us Projected Funding Growth *Projections based on current donor commitments and anticipated growth in impact investment. Aiming for **$15 Million** annual funding by 2027. iVenturer Foundation © 2020-2025 | Innovating for Impact. Built with for a brighter future.

In today’s fast-paced world, academic excellence alone isn’t enough—mastering personal finance, understanding legal rights, and navigating civic engagement are essential life skills. Recognizing this, the Moscow Government, in partnership with youth organization STOлица and Alexey Olin (head of the iVenturer Foundation), has been running a groundbreaking financial, legal, and civic literacy program for over a year. 20+ Events, Thousands of Empowered Participants The initiative has reached 10+ top universities across the capital, delivering interactive lectures, workshops, and masterclasses led by experts in law, economics, and social entrepreneurship. In summer 2024, the program expanded beyond campuses—hosting weekly open sessions at the KUB creative space in Flacon Design Factory, making knowledge accessible to all. Speakers and Guests Yaroslav Chereshnev Sovcombank PJSC — Managing Director of the Digital Bank (2020 – present) • Management of the Digital Block: Product, Partnerships, Analytics, Customer Service, IT, and Marketing Timofey Ra CEO of Indigo Kids is one of the most successful international developers of online children’s games in the world from Russia. Founder of Vimana Aero – development of UAVs, Founders Institute – mentor. Armen Khanoyants Launch and promotion of InnoKid – EdTech equipment for children Development and commercialization of VoiceBook multimedia children’s books, including those with augmented reality Nikolay Ponomarenko President of NOOSPHERE JSC, President of LUDI JSC. Member of the Board of Trustees of the Future People Charitable Foundation Irina Bokova Marketing and product development expert with over 13 years experience Andrey Demidov Russian expert in data analysis and visualization, development of data analysis products and solutions for POCHTA RUSSII, ROSATOM, GAZPROMNEFT, TELE2, BEELINE, X5, and EVRAZ. Artem Malakhov Managing Partner at “Intelligent Trading Systems”, CEO at SnabHub and ConsulTrade, International Trading expert with over 15 years experience. Aleksei Brycheev Head of CIS Intermational Innovation Founadation Ruslan Musin Serial entrepreneur, ex-banker, Founder of SpeakUs, BurnGram, ExtraGPU and others Ruslan Mamedov An expert on personal and career growth. An international business coach, who has produced more than 100 projects He has purchased property worth more than 3 billion rubles ARTEM VARKULEVICH Founder and Head of ONTO, Visionary, BigData expert ANDREY PANGAEV Founder fo Biotech Alliance, Sl.Pharma, MedCan, president of APPK association, head of Sechenova University lab. Ksenia Kozlova Business-woman, speaker, blogger, founder of SSB Worldwide. Nikita Anisimov Entrepreneur, Legal Advisor, Speaker. Tatyana Stepchenkova An acting teacher, director and expert in the development of public speaking and communication skills. She aksi is the artistic director of the Moscow Theater. What Does the Program Teach? Financial Savviness – Budgeting, debt avoidance, and smart saving strategies. Legal Know-How – Rights for students, tenants, and entrepreneurs + real-world legal protection. Civic Engagement – How to drive social impact and shape your community. Why Is It Important? Surveys show that 67% of Russians aged 18–25 lack confidence in managing finances, while 1 in 3 has fallen victim to scams due to legal blind spots. This program bridges theory and practice: participants dissect real cases, draft contracts, and even simulate startups. “Today, literacy isn’t just about reading—it’s about making informed choices. We’re equipping Moscow’s youth to build their futures with confidence,”  – emphasizes Aleksei Olin. What’s Next? Plans are underway to scale the project nationally and launch online courses, ensuring accessibility beyond Moscow. Stay tuned via STOлица and iVenturer Foundation channels—more transformative content is coming! Ready to join? Follow updates from the Moscow Government and program partners!

“A Million-Dollar Solution” is a podcast by Sovcombank for Business about the lives of entrepreneurs and entrepreneurship in life. The podcast is hosted by Yaroslav Chereshnev, Managing Director of the digital bank. Guests talk about business, explore the philosophy of entrepreneurs, and learn how their worldview and personal experiences influence the development of their businesses. Our guests share real-life cases, both successful and unsuccessful, provide life hacks and anti-rules, and debunk established myths and stereotypes. We prove that business is first and foremost about people. And we get to know these people better Aleksei Olin has forged a complex and multifaceted professional identity, which he describes as a “triptych” functioning as a unified strategic system. This triptych includes: Private Venture Capitalist: Through his platform iVenturer, he promotes a model of structured venture investing. His venture philosophy emphasizes providing more than just money to startups; he believes they often need a “back-office” of support, including accountants, lawyers, patent attorneys, mentors, and operational directors, to help translate ideas into products. He initially made many mistakes, often due to his intuitive and trusting nature, which led him to implement systematic protocols for investment selection, such as requiring a minimum of two founders and specific industry experience. Olin also created the “Avencur Bazar” (Venture Bazaar), a startup show that toured Russia, selecting and preparing projects for pitches, which he saw as a way to popularize entrepreneurship and innovation, run as a passion project rather than for profit. Niche Technological Entrepreneur: His public association with Biotech Alliance positions him within the knowledge-intensive sector. His current primary focus is on biotechnology. His entry into biotech began unexpectedly with a “hemp tea” project, which evolved into the cultivation and processing of technical cannabis to produce isolates, extracts, and eventually pharmaceutical substances for medicinal preparations. He identified challenges such as a lack of legal framework and poor seed stock in Russia, leading his team to develop cloning and cultivation protocols with FIBIOTEKH RAN to standardize plant growth and ensure predictable output. Olin highlights the potential of cannabidiol (CBD) for various medical applications, including its use in plastic surgery rehabilitation protocols in the US, its role in supporting the human endocannabinoid system, and its potential to help the body correctly identify and suppress cancer cells. He views this work as fulfilling a social mission, aiming to create something useful and leave a positive mark. Strategist with Confirmed State Ties: Through media appearances and a past position in a Rostec subsidiary, Olin cultivates the image of an influential expert whose activities align with national strategic interests. The strategic value of his Rostec affiliation lies in its ability to project authority, legitimately associating his personal brand with a major state corporation. It also allows him to synchronize with the state agenda, particularly his focus on biotechnology, which aligns with Rostec’s venture division shifting towards medtech. This connection also enhances investment appeal for investors and partners, signaling his expertise in complex structures and potential administrative resources. https://youtu.be/-6H3gKH5ddw?si=K7cQ7L7rjKEGGn7C Olin’s Entrepreneurial Journey and Philosophy: Early Beginnings: His entrepreneurial spirit emerged early. He started by guiding tours for foreigners and even helped people with university admissions, sometimes taking exams for them. His first significant business venture was a real estate agency (Dacha.ru) at age 18, where he found a low-cost client acquisition method by mass-posting on free online bulletin boards, dominating search results. This eventually led to an international real estate company called Millioner Property, working with major developers in the UAE, which he exited in 2008.   Life-Changing Event: After a period of relaxation, the birth of his son Mark in 2010 prompted a significant re-evaluation of his life and career, leading him to pursue new ventures.   Venture Shift: His re-evaluation led him to realize that many talented individuals with great ideas lacked the discipline and systematic approach to succeed, prompting the idea for his venture capital activities.   Cryptocurrency and Blockchain: He was involved in the early stages of cryptocurrency and blockchain in Russia, serving as Vice-President for analytics and head of the analytical center for the Russian Association of Cryptocurrency and Blockchain around 2016-2017. He was involved in mining and the “Dao Finance” project. While acknowledging the “romantic” early days of crypto, he believes it will eventually be legalized but under heavy regulation. He sees blockchain as a powerful distributed ledger technology, separate from the “coin” association. He also acknowledges the dark side of crypto, such as its use in the darknet, but believes the issue lies with human intent rather than the technology itself.   Work Ethic and Philosophy:  He describes himself as an intuitive and chaotic individual who needs external pressure (“under the whip”) to become disciplined, though he now uses a task planner to manage this chaos. He views managed chaos as a competitive advantage, as it deters less adventurous individuals. He believes patience and systematic effort are crucial for achieving success in any endeavor. He emphasizes the value of experience gained from mistakes, stating that “only those who do nothing make no mistakes”. For him, a strong and dedicated team is more crucial than a brilliant idea, as ideas are abundant but reliable teams are rare. He advises aspiring entrepreneurs to believe in themselves and their projects, especially when facing skepticism from others. Olin admits to a tendency toward hyper-control, believing that without it, projects tend to decline. He is very demanding of himself.   Other Ventures: Beyond his core triptych, he is also involved in a consulting business and a music producer center (Centrik). He entered music production due to the void left by major international labels exiting the Russian market, aiming to build a catalog of artists for future acquisition and focusing on transparent monetization channels like streaming and official concert activities.   Personal Reflections: Olin finds relaxation through family, sports like tennis, and water activities. He enjoys reading physical books, particularly for self-development, and recently reread “Cat’s Cradle” by Kurt Vonnegut. He recommends the “Silicon Valley” TV series for aspiring tech entrepreneurs. He