The work of visual art pioneer Andy Warhol is being fragmented into 961 NFTs. The piece in question is called ‘Portraits of the Artist 1.7,’ which is a compilation of 10 multi-coloured polyurethane cube-style portrait prints that have been compiled together horizontally.
In purchasing a Portraits of the Artist 1.7 NFT, owners will become the recipients of an 1/961 NFT version of the physical piece. Authenticity in ownership is paramount, which is why each NFT will be accompanied by signed release rights from Mexican art collectors Cubic, who are the current owners and sellers of the physical piece.
Each of the fragmented 961NFTs cost around $55 to mint, meaning if all pieces are sold, around $53,000 in revenue will be generated.
The project is an example of how blockchain tech is democratising the joys of owning physical masterpieces. This is something Cubic alluded to when announcing the project, as a company spokesperson had this to say: “Collecting art is no longer a privilege of the select few. Blockchain has shaped the course of art history and its market. By joining Cubic, you become part of a community that will allow the decentralization of traditional practices of art”.
A release date for the project is still TBA, however you cans sign up to the whitelist here.
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Reposted from: nftplazas.com