The painting ” Love Is In the Air “has been divided into 10,000 pieces to be auctioned as NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. through Particle. The sale will take place next January 18.
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Las “ particles “of an iconic Banksy painting will be sold in the format of a tokens non fungibles (NFT) on the platform a place to buy, sell and store cryptocurrency Avalanche .
‘ Particle ‘, the NFT market an area or arena, online or offline, in which commercial dealings are conducted. based on Avalanche is being preparing to subastar his first work next week. It is the famous painting “ Love Is In the Air “one of contemporary artist Banksy’s best-known pieces. The work, which first appeared in 2003, has been divided into 10,000 fractions that can be purchased by collectors in the form of tokens .
The NFT platform acquired the piece for a sum of USD $12.3 million. during an auction an auction is a public sale through a bidding process where an asset is sold to the highest bidder. conducted bySotheby’s in May last year. Particle is debuting Banksy’s work this week as its first auction of tokenized fractions. The painting had already been on display during the week of Art Basel in Miami in December last year.
“ Love Is In the Air ” is a graffiti which portrays a protester with his face covered throwing a bouquet of flowers and was first seen on a wall separating Palestine and Israel. It is one of the artist’s most representative pieces for using the stencil technique while presenting a social and political critique, both hallmarks of Banksy. The work has become a contemporary aesthetic and political symbol.
Banksy artwork particles in NFT
The fractionation process will see Banksy’s work split into ten thousand smaller and unique pieces with a size of 100×100. These pieces are then converted into NFT allowing users to keep and trade them.
According to the Particle The goal of selling the fractional work is to make art more accessible and inclusive through digital digital technologies are these electronic tools that have the ability to generate, store or even process data. ownership. In this regard, the co-founder of the platform, Oscar Salazar, had highlighted :
Until now, the fine arts were only available to a select few. Con la technology blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. y NFT, […] ownership of art can become a reality for a greater number of people.
Each purchaser of a Banksy fractional NFT receives a digital certificate or collector’s card representing ownership of the painting. Collectors will have the right to buy and sell their NFTs on secondary markets or transfer them at will, and are the “owners” of the NFTs. only non-beneficial owners of the painting “. They also have the right to see the physical painting when and where it is exhibited, as well as to participate in the governance in the world of cryptocurrencies, governance is defined as the people or organizations that have decision-making powers regarding the project. of the platform. Particle .
“ Particle NFTs non-fungible token, a unique non-interchangeable piece of digital content that is stored on a distributed ledger (blockchain). are your ticket to a movement of like-minded people looking to own, collect and experience art in a new and revolutionary way. Through your collection, you are buying a “ticket” to participate in the art world like never before. “wrote the CEO, Harold Eytan, in a tweet .
The physical work is maintained by the Particle Foundation. That organization will also receive 1% of the proceeds from the sale of NFT, which will allow it to act as a “NFT” for the organization. protective fragment “ensuring that no party or entity can claim full possession of the physical painting.
Particle wants to revolutionize art and extend to the metaverse a metaverse is a digital universe that contains all the aspects of the real world, such as real-time interactions and economies. It offers a unique experience to end-users.
During a interview In December, Eytan had pointed out that the choice of a Banksy painting for the first auction of Particle seeks to reflect the revolutionary mission of the platform, just as the artist once revolutionized the art world. He also said that, in the long a situation where you buy a cryptocurrency with the expectation of selling it at a higher price for profit later. term, one of the plans of Particle is to extend its presence to the metaverse (an online virtual environment).
“Love Is In the Air” was specifically the ideal painting, as it embodies this peaceful act towards the status quo: the revolutionary act of throwing a bouquet of flowers. We do not seek to destroy or attack the traditional art world or market structure, but to propose a peaceful and beautiful alternative that we believe many will support.
The co-founder Loïc Gouzer had also commented previously about it. “ Widely regarded as one of the most iconic creators of the 21st century, his bold, humanitarian nature and his firm belief that art should be for everyone reflects the mission at Particle “.
Those interested in participating in the NFT Auction can enroll in a white list of Particle which will be open until this week. The official sale of the pieces will take place on January 18, according to Eytan in a press release. tweet .
Really enjoyed answering everyone’s questions at last night’s AMA
We also shared an example of what a Particle will look like –see below.
Looking forward to engaging more with the community as the project develops!
Sale starts Jan 18th. Whitelist a list of interested participants in an initial coin offering, who registered their intent to take part or purchase in a sale. applications still open. pic.twitter.com/ofqVFWQwqE
— Harold ???? (@haroldeytan) January 6, 2022
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Article by Hannah Estefania Perez / DiarioBitcoin
Imagen de Unsplash
