In Brief:
- Particle Collection will launch its platform with the NFT of Banksy’s artwork, “Love is in the Air”.
- The artwork will be fractionalized into 10,000 particles and made available to people as NFTs on Avalanche.
- The Primary Sale of Particle NFTs of Banksy’s “Love is in the Air” will start from January 10 till January 14, 2022.
Particle Collection is launching its platform with the fractionalization of Banksy’s 2005 work “Love is in the Air” and selling each of them as NFTs on Avalanche.
The Primary Sale of Particle NFTs of Banksy’s “Love is in the Air” will start from January 10 till January 14, 2022.
However, Banksy’s masterpiece, “Love is in the Air” is out on display this week at ICA at Art Basel Miami on Friday, December 3.
Particle Collection, the firm leveraging blockchain and NFT technology to make fine art ownership accessible and inclusive, will fractionalize Banksy’s painting into 10,000 unique particles each of the size 100×100 grid. Subsequently, the particles will be turned into NFTs. Each Particle is thus unique and its holder can personally own the artwork.
Thus, once a buyer purchases a Particle, they receive a digital certificate, or collector’s card, which represents the buyer’s ownership in the painting. Collectors will have the right to buy and sell their NFT(s) on secondary markets or transfer them at will.
Collectors also have the right to see the painting whenever and wherever it’s displayed, and the right to call the painting theirs as the only non-charitable owners of the works in the collection.
In the tweet, it is also informed that Particle had initially purchased the piece for a whopping $12.9M at Sotheby’s auction held in May this year. The physical painting of “Love is in the Air” will be donated to the Particle Foundation.
Particle will also donate 1% of Particles to the Foundation, which will act as a protective shard and ensure no one person can envisage claiming possession of the physical painting.
Loïc Gouzer, the co-founder of Particle commented, “Banksy has turned the art world on its head. Widely regarded as one of the most iconic creators of the 21st century — his daring, humanitarian nature and strong belief that art should be for everyone reflects the mission at Particle, making this masterpiece symbolic to launch the platform with”.
Banksy, one of the most popular artists of this generation, is famous for his quintessential artistic style of bringing together humour and political commentary to create acclaimed street art. His satirical potshots are one of a kind!
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