Crypto enthusiasts Etan Genini, Vittorio Grigòlo, and Michele Fiscalini have a new project on the way. They created Valuart to help artists sell their works and discover their true value. Licensed non-fungible tokens (NFTs) will be traded on this new platform, and their first piece has been announced.
“Spike,” inspired by Banksy’s physical creation with the same name, will be auctioned as a 1:1 NFT where 50% of the earnings will go to charity.
The notorious street artist Banksy is the creator of the original piece in Palestine whose owner is now Vittorio Grigòlo. The Valuart co-founder and world-famous tenor decided to auction the digital, original version of the Banksy work, which recently turned into a CGI artwork.
We can see Spike slowly drifting through the universe until he finally returns to where he belongs on Earth in the NFT version.
“I’m thrilled to participate in this project and use my voice to create a magical atmosphere for the rebirth of this extraordinary piece of art I discovered more than a decade ago,” said Vittorio Grigòlo.
“I cannot wait to share this amazing creation with the public.”
The idea of Valuart is to be creative and bring something new to the table. Instead of just selling classic art pieces, they want to reimagine them and sprinkle the greatness with contemporary ideas and visions.
That way, collectors will get a unique chance to acquire more than an objet d’art. Creative history is being made and traded, and leading artists, institutions, and celebrities have been brought on board for these purposes.
Valuart creates a Digital Original (a perfect digital “clone”) and contextualizes it into unique stories through market-leading content creation. However, in order to do such a thing, a given artwork must be authenticated on a blockchain in collaboration with the owner of the tangible asset.
Valuart is a place where art collectors can discover and connect with artists and where new opportunities for monetization through NFTs can be realized. This way, classic art is being tokenized and revived in the 21st century. All this was inspired by Banksy and Vittorio’s desire to share his admiration for his piece.
The NFT market made headlines again yesterday when it was announced that an NFT, showing the moment Andy Murray won his first Wimbledon in 2013, sold for $177,777 at auction earlier this week.