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

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

It took Banksy’s The Ragged Trousered Philanthropists to inspire Valuart to execute a funding round for the creation of an open, permissionless and decentralized asset. The project is named, Banksy’s Spike. Valuart is an asset valuation company that develops and sells equity-backed securities that represent a virtual stake in an artist or brand’s intellectual property. Valuart’s values are as strong today as they ever have been, and the company is excited to finally offer a digital version of its portfolio.

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A piece of artwork is expected to set Banksy fans abuzz.

Last year, Banksy portrayed a “Spike” figure in a black-and-white print, created with an “anti-bank” message and with a price tag of $60,000.  The painting was on sale for a short time last year, but was ultimately removed from the website the same day.  Now, Valuart, a company that owns the rights to many of Banksy’s works, is auctioning off a “Spiked” NFT token  from the same image for a starting bid of $2,000,000.  The auction runs until March 18th, with the winning bidder to be announced on March 19th.

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

The 22nd of July, 2021, in Lugano, Switzerland

Valuart, a company that creates licensed NFTs based on original artwork, has released its first batch. On July 22, the auction for ‘Spike,’ a digital artwork based on the famous Banksy installation that originally appeared in Palestine, began. The profits from the sale will go to charity in the amount of 50%.

‘Spike,’ a work by renowned street artist Banksy, is currently in the property of Vittorio Griglo. A digital version of the Bansky piece, recreated as a CGI artwork, is being auctioned by the world-famous tenor and Valuart co-founder. Spike is shown drifting throughout the cosmos in the NFT version before being restored to its proper home on Earth as a freshly minted non-fungible token.

“After months of hard labor, we can finally share our invention with the world,” Vittorio Griglo remarked. Valuart’s concept, in my opinion, symbolizes the future of how we view, appreciate, and value art and artists. This initial drop is a stepping stone that will lead to a very exciting future for artists, their work, art collectors, and art lovers.”

Valuart intends to provide digital originals (1:1 digital clones) of some of the world’s most famous licensed artworks after the Spike release. On October 22, there will be a performance of ‘Mantum and the Stole.’ Pope John Paul II initially wore this one-of-a-kind piece by Stefano Zanella on December 24, 1999, to commemorate the inauguration of the Vatican Basilica’s Holy Door.

Valuart plans to digitize some of the most renowned artworks ever produced, giving a traditional medium new life and allowing NFT aficionados to own a piece of creative history. For this, the business has enlisted the help of well-known artists, institutions, and celebrities.

Valuart produces a Digital Original (a flawless digital “clone”) and contextualizes it into unique tales using market-leading content creation after verifying the authenticity of a particular artwork on the blockchain in cooperation with the owner of the physical asset. It hopes to establish a new benchmark for the NFT art industry in this way. 

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Vittorio Griglo stated, “I’m delighted to be a part of this project and to use my voice to help create a wonderful environment for the revival of this amazing work of art I found more than a decade ago.” “I can’t wait to show the rest of the world this incredible creation.”

The proceeds from the sale of the ‘Spike’ NFT drop will be used to help those affected by conflicts across the globe. 

Valuart’s Background

Etan Genini is a writer who lives in Italy., Vittorio Griglo, and Michele Fiscalini created Valuart with the aim of assisting artists in realizing the actual worth of their work. Valuart links art buyers with artists, opening up new revenue streams via the use of NFTs. Valuart is bringing the art world into the twenty-first century by tokenizing historic pieces of art.

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