A painting by artist Baranoff-Rossine will be auctioned off as an NFT and Mintable will be hosting the auction as we are reading more in our cryptocurrency news.
An early 20th-century master who boasts installations at the Museum of Modern Art constantly is about to get new life on the blockchain. The painting by artist Baranoff-Rossine will be auctioned off on the NFT marketplace Mintable in collaboration with the family of Wladimir Baranoff-Rossine where a collection of the esteemed Cubo-Futurist work will be released. There will be a number of paintings digitized as 1000 print drops, three digitized NFT piece auctions, and one hybrid auction sent to send the highest bidder for a physical Baranoff-Rossine original painting as well as an NFT of the work.
On the crypto market data provide Brave New Coin’s podcast, NFT marketplace Mintable CEO Zack Burks noted that the upcoming auction could be the high-profile example of tokenizing a physical art- painting:
“This is historic, we’ve never had something like this in the NFT ecosystem before. NFTs have been around for three years now, at least on Ethereum, and there’s never been a piece of fine art tokenized. It’s always been something we’ve discussed in the NFT ecosystem, but it’s never actually been accomplished, and especially not from someone who holds such a legacy as Wladimir Baranoff-Rossine.”
Baranoff-Rossine’s grandson said that the physical art with blockchain mashup fits well with the Russian legacy. The artist was an inventor and well-known for his avant-garde experiments that had plenty of color, sound, and technology included in them. Burks and the artist’s grandson noted that Mintable is expecting more interest from the fine art collectors and casual collectors as well. Burks believes that the bidding will come to war between these two types of collectors as he said:
“For me, obviously, I run a NFT marketplace, I like NFTs I collect NFTs, and when I see this, I wanna buy it. I want to hang this on my wall, I want to have a piece of historic art in my house, AND have the NFT. That’s the beauty behind this drop.”
When asked about whether Baranoff-Rossine will be participating in the current NFT art revolution if he were alive, his grandson said yes:
“Absolutely. It’s something which he did his whole career, so yes absolutely, I think that’s what’s exciting about blockchain. The other thing as well 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 the NFT space is just bringing a lot more eyes to the collection.”
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