The early 20th-century master, who boasts a permanent installation at the Museum of Modern Art, is about to gain a new life on a blockchain.
In collaboration with the NFT marketplace Mintable, the Wladimir Baranoff-Rossine family will publish a collection of the esteemed work Cubo-Futurist. There will be a range of images digitized as drops with 1000 prints, three digitized NFT auctions and one hybrid NFT / physical painting auction, which will send the highest bidder both a physical original Baranoff-Rossine image and an NFT image of the work.
Brave New Coin’s cryptocurrency market data provider podcast“NFT Marketplace CEO Zack Burks noted that the upcoming auction may be the most significant example of physical painting tokenization.
“It’s historic, we’ve never had anything like this in the NFT ecosystem,” Burks said. “The NFT has been here for three years, at least on Ethereo, and there has never been a fine art token.” In the NFT ecosystem, it has always been something we have discussed, but it has never really been achieved, especially not from someone who has such a heritage as Wladimir Baranoff-Rossine. ”
Baranoff-Rossine’s grandson, also named Wladimir, said the physical art / blockchain mashup fits well into Russia’s heritage. Baranoff-Rossine was an inventor as well as a sculptor and painter and was known for his avant-garde experiments and works that combined sound, color and technology, for example “Eight Piano”.
The grandson of Burks and Baranoff-Rossine noted that Mintable expects the interest of fine art collectors, the newly rich Ethereum whales, and informal collectors. Given Beeple’s absurd $ 69 million for “Everydays: The First 5000 Days,” recently brought to Christie’s, Burks believes the auction will end the war between an NFT and fine art collector, given how the mashup can appeal to both worlds:
“Of course, I run an NFT marketplace for me, I like NFT, I collect NFT, and when I see it, I want to buy it.” I want to hang it on the wall, I want to have a piece of historical art in my house and have an NFT. That’s the beauty behind this drop. “
Critics have become collectors
Many people in the art world are concerned about the recent invasion of cryptocurrency and grumble that the work created by digital and NFT artists is childish or otherwise under their attention. It is a reaction that has significant historical parallels, including Baranoff-Rossino: while critics and the press at the time doubted his work, one of his sculptures is now part of a permanent collection at MoMA.
Asked if Baranoff-Rossine would have taken part in the current NFT art revolution if he were alive today, his grandson answered in the affirmative.
“Absolutely. It’s something he’s done all his career, so yes absolutely, I think it’s exciting about blockchain,” he said. “Another thing is, as an artist, the most important thing you want people to see you work, whether you’re dead or alive, so the whole art scene in blockchain technology and NFT space brings much more eyes to the collection. ”
The decline will include different pieces with different price ranges. The primary auction will be a physical painting tied to the NFT (the winner will have the painting sent by post), as well as three more auctions of digitized works and six “open editions” – 1,000 digitized pieces for a fixed price.
Other experiments, such as a burned Banksy’s drawing, which was revived on a string like the NFT, engaged in the destruction of a physical work or in finding ways to connect physical and digital works together, for example using a microchip. However, Burks believes that the mere creation of an NFT loosely coupled to a physical piece brings benefits in terms of reduced paperwork and accounting provenance.
Hybrid physical work and the release of the NFT also appear to be on the rise: Last week, Cointelegraph was the first to announce that legendary British artist Damien Hirst would release an NFT project called “The Currency”.
It seems that people who criticize the new technology will be the ones to collect it soon enough.