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Valuart Launches Auction of NFT Derived From Banksy’s ‘Spike’

CryptocurrencyJul 23, 2021 03:30AM ET
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Valuart Launches Auction of NFT Derived From Banksy’s ‘Spike’

Lugano, Switzerland, 22nd July, 2021, – Valuart, a startup that mints licensed NFTs derived from original artworks, has launched its first drop. The auction for ‘Spike,’ a digital artwork based on the iconic Banksy installation that first surfaced in Palestine, commenced on July 22. 50% of the proceeds raised from the sale will go to charity.

Created by infamous street artist Banksy, ‘Spike’ is now in the possession of Vittorio Grigòlo. The world famous tenor and Valuart co-founder is auctioning a digital interpretation of the Bansky work, reimagined as a CGI artwork. In the NFT version, Spike is seen floating across the universe until it is eventually returned to its rightful place on earth, to emerge as a newly minted non-fungible token.

Vittorio Grigòlo said: “After months of hard work, we can finally share our creation with the world. I’m convinced that Valuart’s model represents the future of how we perceive, admire and give value to art and artists. This first drop is a stepping stone that will pave the way towards a very exciting future for artists and their art, as well as art collectors and art lovers.”

Following the Spike drop, Valuart plans to launch digital originals (1:1 digital clones) of some of the world’s most iconic licensed artworks. This will include ‘Mantum and the Stole’ scheduled for October 22. This unique artwork by Stefano Zanella was first worn on December 24, 1999 by Pope John Paul II to mark the opening of the Holy Door of the Vatican Basilica.

Valuart is intent on digitizing some of the most famous artworks ever created, breathing new life into a classic medium and giving NFT collectors a chance to acquire a piece of creative history. The company has on-boarded leading artists, institutions and celebrities for this purpose.

After certifying the authenticity of a given artwork on the blockchain in collaboration with the owner of the physical asset, Valuart creates a Digital Original (a perfect digital “clone”) and contextualizes it into unique stories through market-leading content creation. In doing so, it aims to foster a new standard for the NFT art market.

“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.”

50% of the revenues deriving from the auction of the ‘Spike’ NFT drop will be dedicated to supporting those suffering from conflicts throughout the world.

About Valuart Valuart was founded by crypto enthusiasts Etan Genini, Vittorio Grigòlo, and Michele Fiscalini with the goal of helping artists realize the true value of their work. Valuart connects art collectors with creators, unlocking new opportunities for monetization through the medium of NFTs. By tokenizing classic artworks, Valuart is bringing the art world into the 21st century.

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Valuart Launches Auction of NFT Derived From Banksy’s ‘Spike’
 

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