LOS ANGELES--(BUSINESS WIRE)--aShareX, Inc. (Art Share Exchange), the first and only auction-based universal trading platform dedicated to democratizing ownership of high-value alternative assets, today named Professor Eric Budish to its Board of Advisors. Budish is the Paul G. McDermott Professor of Economics and Entrepreneurship at the University of Chicago Booth School of Business. As a leading researcher in the academic field of market design, Budish is best known for his market design inventions for financial exchanges and matching markets.
"With all due respect to NFTs and blockchain trust, I’d much rather own a legally registered share of a real Picasso," said Professor Budish. “I also think it’s exciting that aShareX lets sellers of art access demand from a new class of buyers, using a creative auction design.”
Budish is a Research Associate at the National Bureau of Economic Research. He also serves as the Co-Director of The Kent A. Clark Center for Global Markets at Chicago Booth and the Krane Distinguished Visiting Professor at the University of Chicago Law School. He has published influential research on market design theory, event ticket markets, blockchains and cryptocurrencies, and patents and innovation. Budish's work proposing frequent batch auctions as an alternative to continuous trading on financial exchanges received the AQR Insight Award and the Leo Melamed Award. His ideas have influenced policy discussions at the highest levels, including major policy addresses by the New York Attorney General and the SEC Chair. Moreover, Budish's research has shaped exchange design proposals in both stock and futures markets, addressing concerns related to high-frequency trading.
“Eric’s research supports aShareX’s guiding principle that auctions are the reliable way to establish true market pricing for high-value assets like museum-quality fine art,” said Alan Snyder, founder and CEO of aShareX. ”His research and analyses are invaluable to establishing aShareX as the standard bearer, critical to building trust, ensuring investor control and enhancing competition between fractional and 100% bidders.”
Budish holds a Ph.D. in Business Economics from Harvard University, an MPhil in Economics from Oxford (Nuffield College) and a BA in Economics and Philosophy from Amherst College. Before pursuing his graduate studies, Budish was an analyst at Goldman Sachs.
About aShareX
aShareX, Inc. (Art Share Exchange) is the first and only low-cost marketplace for buying and selling fractional shares of high-value assets that features market pricing and investor control, with an initial focus on democratizing ownership of blue-chip fine art. The patent-pending auction system allows, for the first time, fractional bidders to compete against one another and against 100% bidders in an integrated back office and secondary trading platform. aShareX benefits from an experienced and dedicated team with a proven track record of building innovative companies and products, including seven years’ experience lending against museum-quality physical fine art.
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This press release shall not constitute an offer to sell, the solicitation of an offer to buy, or a solicitation of interest in any contemplated offering of securities, nor shall there be any offer or sale of securities in any state or jurisdiction in which such offer or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. None of the information in this press release should be construed as a recommendation or as investment, financial, tax or legal advice.
aShareX has not yet qualified with the SEC for any offers or sales of fractional shares, and there is no guarantee that any such offer will be qualified. Any offering of securities will be made only by means of a duly qualified offering circular, which can be obtained by qualified investors through our platform. Information about our offerings must be read in conjunction with such offering circular in order to understand fully all of the implications and risks of the offering of securities to which it relates.
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