NEW YORK, NY.- The Native SA, the Swiss listed and headquartered content marketing, technology and e-commerce services company and Paddle8, the New York-based leading online auction house announced their strategic partnership. Together they will launch Paddle8 Lab to bring technology innovation to art and luxury markets. The inaugural project Bidcoin set to take place on August 18, 2018 will be the first ever bitcoin auction of art and collectible luxury. Powered by The Native’s Blockchain Lab business unit, Paddle8 Lab will add blockchain “passportization” services for its consigners and clients.

“Paddle8, a pioneer in the online auction space, together with The Native SA are primed to create a dynamic new marketplace for art and collectible luxury,” states Alexander Gilkes, Paddle8 co-founder. “The backing of tech-savvy The Native SA now makes it possible for Paddle8 to develop the first ever truly global bitcoin auction, which will accept all the major cryptocurrencies, and provide our consigners and clients with the best available exchange rates.”

“The tech innovation in the art and collectibles world is long overdue, and recognition of the rising economic power of the cryptocurrency owners is just a matter of time.” commented Izabela Depczyk, the founder and Executive Board Member of The Native SA. “Paddle8 and The Native partnership brings all the right competencies together to execute on exceptional opportunities of matching the art world with the new tech world.”

A new Paddle8 will relaunch in spring of 2018 with service offerings to expand beyond art and collectibles, with focus remaining on servicing millennial and Gen Z clientele.

Cameron and Tyler Winklevoss, cryptocurrency pioneers, have remained strategic advisors to Paddle8 since 2015. “We’ve long considered cryptocurrency as key to increasing transparency in markets around the world, including the art market,” states Cameron. “This new strategic partnership with The Native SA and Paddle8 is yet another opportunity to disrupt the status quo,” comments Tyler.

STRATEGIC PARTNERSHIP
Details of the strategic partnership include an equity investment of The Native SA into P8H Inc, the New York-based owner and operator of Paddle8. Izabela Depczyk, the founder of The Native, joins the board of P8H Inc, the founders of Paddle8 Alexander Gilkes and Osman Khan join the Executive Committee of The Native SA.

The Native’s technological support of the newly launched Paddle8 Lab is aimed at bringing tech innovation into the arts and luxury space by commercializing some of the existing technologies owned by The Native’s Blockchain Lab, and an active use of The Native’s e-commerce services and content marketing capabilities in expanding the business of Paddle8. The investment from The Native SA will be used both for immediate new initiatives and the gradual overhaul of the existing Paddle8 offering aimed to expand its scope beyond its current offerings of art and collectibles.

The Native SA provides significant technology and capital support to P8H Inc, with The Native’s operating subsidiaries Asknet AG, Blockchain Lab AG and The Native Media Inc taking active engagement with P8H Inc in the areas of e-commerce handling, tech development and content marketing respectively. As a part of the strategic partnership, The Native SA acquired 15% ownership Interest in P8H Inc for a total consideration of CHF 8.5 million payable in cash and certain assets, and now holds the call option to acquire further 36% of P8H Inc for CHF 24.5 million. When and if executed, the call option allows for the full consolidation of P8H Inc into The Native SA.

PADDLE8 LAB
Paddle8 Lab will debut with a new service to include blockchain “passportization” of the art & collectibles to be offered to Paddle8’s benefit auction partners and individual consigners on­ March 1, 2018.

Paddle8 Lab’s inaugural auction Bidcoin will take place on August 18, 2018, commemorating the 10-year anniversary of bitcoin, the pioneering cryptocurrency of which aggregate value stands at nearly $230 billion USD. Consigners are invited to consign to Bidcoin starting on March 1, 2018 at consignments@paddle8.com, the works selected for the auction will receive blockchain passports from The Native’s Blockchain Lab to significantly simplify further transactions. Bidcoin will be supported by The Native SA, P8H Inc and The Native’s German-listed and Karlsruhe based subsidiary Asknet AG.