NFT News: 10101 Art debuts on November 27 and offers the opportunity to become fractional owner Banksy famous work ‘Turf War’.
Now, through the use of fractional ownership, blockchain technology, and Non-Fungible Tokens (NFT), anyone can co-own original works from artists like Picasso, Dali, Warhol and many others.
See below for all the details.
NFT: the new way to invest in Banksy works
As expected, after making official its first collaboration with a gallery in Dubai, art tokenization platform, 10101.art, introduces the sale of Banksy’s work ‘Turf War’.
This iconic piece, named after the celebrated artist’s first major exhibition in 2003, will be available for purchase as a fragment through tokenized digital asset technology, including NFTs.
The pre-sale phase is scheduled for November 27, with a limited number of units offered at the discounted price of $60, a discount of 40%. The main sale follows immediately after the presale, the remaining copies are available at $100.
10101.art presents itself as a revolutionary ecosystem that brings the classic art market into the digital age and removes barriers for collectors.
Through its system of fragmented ownership, blockchain technology and Non-Fungible Tokens (NFTs), it allows anyone to become co-owner of original works by prestigious artists such as Picasso, Dali, Warhol and others, allowing them to, create a portfolio, grant access and even sell them.
The process is completely safe and legally protected by a blockchain certificateensuring the authenticity of information about works of art without the possibility of forgery.
In other words, 10101.art emerges as an innovative and revolutionary force, opening new accessible doors for iconic works of art.
Recall that Banksy’s ‘Turf War’, one of his earliest and most famous works, is a stencil depicting Winston Churchillknown during World War II as ‘The British Bulldog’, with a green crest that turns him into a dissident punk rock figure.
All paintings from the 10101.art collection are now on public display at the Monada Art gallery in DIFC, Dubai, with more galleries opening worldwide in 2024.
Even more NFT news: Nike and the collaboration with RTFKT
Nike has played a leading role in accelerating the adoption of NFT-related fashion through its acquisition of a crypto startup in 2021 RTFKT.
While in the past purchasing real shoes tied to NFTs required owning expensive digital tokens, Nike’s recent partnership with RTFKT has changed everything.
On Monday, Nike launched a public presale for its new RTFKT Dunk Genesis sneakers, allowing anyone to buy them without having to own an RTFKT NFT.
The Nike x RTFKT Dunk Ghost Edition and Dunk VOID Edition are available for $222 each, and the purchase includes a T-shirt with both brands’ logos and the words “Oops, You Stepped Into the Future” on the front.
Despite the lack of a mandatory NFT for purchase, both sneakers are still tied to the NFTs.
There is even an NFC chip in the shoes, the so-called Merge RTFKT world chip, which allows owners to obtain a digital collectible and link it to the physical product.
VOID Edition sneakers are expected to ship on July 31, 2024, while Ghost Editions will ship on August 31, 2024. Ahead of the public sale, Nike and RTFKT have hosted an exclusive pre-order window for existing NFT owners.
Despite the lack of clarity on the chain used to mint the associated NFTs, we know that RTFKT has previously used Ethereum. Nike, on the other hand, has enabled its digital platform Polygonan Ethereum scaling network.
This new collaboration follows the launch of the RTFKT x Nike Air Force 1 earlier this year, which required the purchase of NFT to redeem real-world sneakers.
RTFKT is also known for it Clonea collection of valuable NFT profile images, which generated transactions totaling $852 million and saw prices on the secondary market starting at 1.4 ETH, approximately $2,850.