Now’s your chance to own a real Banksy. Or at least a part of one in NFT form.
Particle, a nonfungible token platform dealing in fine art and technology, has announced the elusive graffiti artist’s Love is in the Air as the first work it will sell at auction, Barron’s reports.
“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,” said Particle co-founder and former Christie’s chairman Loic Gouzer.
Also known as “The Flower Thrower” for its depiction of a protestor poised to hurl a bouquet, the piece will be segmented into 10,000 particles using a 100-by-100 grid, each of which will be sold as an NFT for approximately $1,500. Bidders can’t choose which segment they receive but can buy more than one.
“Once you are an owner of a Particle it is up to you to do what you please with it,” said Particle CEO Harold Eytan. “They can [sell it] via a variety of secondary marketplaces, or on Particle’s own marketplace.”
Particle paid $12.9 million for Love is in the Air at a Sotheby’s auction in May. If all 10,000 NFTs are sold, the company will generate approximately $15 million in revenue.
After the auction, the nonprofit Particle Foundation will receive the original piece and 1 percent of purchased segments as a “a protective shard [to] ensure no one person can envision claiming possession of the physical painting.”
“The foundation will never sell the physical work of art,” Eytan added. “The whole point of this project is to build the greatest collection in the world, owned digitally by the community, and preserved physically by the foundation.”
Particle’s Love is in the Air sale will run from January 10-14. Visit the platform’s website for more.
