Benefit artist properties, museums, and platforms by minting traditional artists’ work into NFTs –

Benefit artist properties, museums, and platforms by minting traditional artists’ work into NFTs –

This past Valentine’s Day, as the booming NFT market suffered an unexpected drop that proved to be the harbinger of this summer’s “crypto winter,” the Belvedere Museum in Vienna released its first drop of NFT – a collection of 10,000 unique specimens of Gustav Klimt Kissby dividing the base board into a 100 x 100 grid.

Belvedere’s general manager, Stella Rolig, delivered the moment in big terms.

“What does it mean to own a work of art in the digital age?” asked Rolig in the press release. “The emergence of NFTs, which has occupied the art world since 2020, has given new impetus to this interesting question. The transformation of digital copies into virtual originals opens up new forms of participation that should, financially, be taken seriously, yet can also be Show it comically.”

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The NFTs, which are listed at around $2,000 a pop, aim to generate revenue to “collect [museum’s] Treasures…”

So far, just over 2,400 NFTs have been sold, generating an income of nearly €4.4 million, according to Belvedere press agent Irene Jäger.

“Because this project is a new area for us and somewhat experimental, we didn’t know what to expect,” Jagger said. ARTnews in a letter. “We consider the result a huge success – it is the most successful NFT project with historic artwork to date worldwide. However, our goal remains to sell all 10,000 pieces.”

Belvedere is not the only institution that is exploring NFTs of traditional art to build support, protect and preserve work, and bring in a new generation of art evaluators.

Farboud Sadegian, founder of ArtèQ; Katharina Krause, Managing Partner at Donau-Finanz; Stella Rollig, General Manager, Belvedere; Wolfgang Bergmann, Chief Financial Officer at Belvedere, presents the new Klimt NFT collection.

Uriel Morgenstern

In January, the granddaughter of Pablo Picasso and her great-grandson Marina and Florian Picasso Advertise plans for auction 1010 NFTs are based on never-before-seen ceramic works by the famous Spanish artist. Marina and Florian Soon they were forced to give up any affiliation With the Spanish painter after he left, represented by Picasso’s management (managed by Picasso’s other descendants), they declared the series to be “fake”.

In February, Julian Sander, grandson of August Sander, announced plans to mint the legendary German photographer’s entire archive of 10,700 images on the NFT OpenSea platform for free. Sander said he wanted to “secure August Sander’s legacy on the blockchain.” All of the NFTs in the pool were claimed after the project was launched, and within a few weeks, more than 400 ETH were trading in secondary sales on OpenSea. With awards arriving from respected photographers, the group quickly disappeared from OpenSea after German cultural non-profit SK Stiftung Kultur sued. It turns out that it was Kultur, not Sander’s grandson, who owned the copyright to August Sander’s works until 2034.

Perhaps the most successful semi-real estate-based NFT combinations arecomputer joy“A collection of 15 NFT singles showcasing the pioneering work of the 1980s Lee Mullican and It was minted in partnership with Verisart last November.

Before Mullican began making digital art in the 1980s, he was best known for his abstract works using a printer’s knife three decades earlier. These semi-mythical abstractions were the first of two major art movements of which Mullican was a part.

“It is important to recognize that Lee has been at the forefront of two ranger changes in the art world,” said Cole Root, director of Mullican properties. “In the 1940s, inspired by Paul Klee, we found late surrealism. And in the ’80s, he moved to digital art. It’s special how open he is to experimentation in art. It’s hard to find a medium that he didn’t work with.”

Late in his career, Mullican translated these bold-colored summaries of canvas into the IBM 5170 computer. The resulting creations provided a model for many in Mullikan’s generation of how a painter would digitalize his art.

Lee Mullikan’s abstract physical work sits on either side of his digital work at “Computer Joy” at the Marc Selwyn Gallery in Los Angeles, California.

Mark Sloen Gallery

Root, with writer and art researcher Marie Hellish and galleries maker Mark Selwyn, selected “Computer Joy” works from more than 300 Mullican digital pieces. A subsequent exhibition of physical works alongside their digital counterparts was held at the Mark Sloan Gallery in Beverly Hills.

Root said the show helped bring in older, traditional art appreciation, along with the next generation of digital experts ARTnews.

“The NFT folks were really interested in the paintings, and the traditional folks were really fascinated by the digital work,” Root said. “That was really cool to bridge the gap. That’s what we’re trying to do with the project as a whole – keeping one foot in each world.”

While up to this point, most of the NFT groups digitizing the work of traditional artists have been led by artist properties or museums, NFT platform click trying to change that. Launched in 2021 by Alexandra Fairweather, property manager of sculptor John Chamberlain, Click aims to digitize famous artworks and rare archives. Klick framed his work as helping to preserve rapidly disintegrating materials. Fittingly, the platform’s opening landing, titled Integration (Dis), featured monochrome images of an unnamed artist’s car (though they say “world-famous”) in gradual disintegrations.

The artist mystery behind “(Dis) Integration,” according to Fairweather, is part of creating a new participatory experience that will appeal to both beginners and serious fans.

Click on NFT Platform founders Billy Folchetti (left) and Alexandra Fairweather.

Click on the NFT platform

“What we’re really doing with this drop in integration (Dis) is getting people to understand why archives are important,” Fairweather said. “To go on this journey, trying to piece together all the clues to find out who this is, what this story is, what this project is about? If we don’t pay attention to these archives, everything will be forgotten and lost.”

For Click, like many of the real estate and foundations that mint collections, the decision to enter NFTs “is about generating revenue streams for artists and real estate in a modern way,” said Billy Folketti, co-founder of Click, ARTnews. Click revenue will go toward maintaining Chamberlain’s estate, along with other partner artists’ properties. In addition, the company will donate a portion of its revenue to the non-profit organization Art21, which Produce educational content on contemporary art Like the last feature William Kentridge: Anything is possible.

Click said it paused sales of its NFTs earlier this year due to the crypto market crash and will resume once the market stabilizes.

“These new media can inspire and educate people in an accessible way,” Fairweather said. ARTnews. “A lot of people are afraid of the traditional art world and see it as a symbol of high culture. I hope this breaks down some of those barriers.”

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