NFT News: 10101 Art to Debut on 27 November, Offering Fractional Ownership of Banksy’s “Turf War”
As the art world continues to embrace digital transformation, the art tokenization platform, 10101.art, has announced its collaboration with a Dubai gallery, introducing the sale of Banksy’s iconic work “Turf War” through NFT. This groundbreaking move is set to redefine the art market by providing a new way to invest in renowned artists’ works.
The presale phase for Banksy’s “Turf War” is scheduled for 27 November, offering a limited number of pieces at a discounted price of $60, which is a 40% discount. The main sale will follow immediately after the presale, with the remaining pieces available at $100.
By leveraging blockchain technology and Non-Fungible Tokens (NFTs), 10101.art is revolutionizing the art market, enabling fractional ownership of original works by prestigious artists such as Picasso, Dali, and Warhol. This allows anyone to become a co-owner of these valuable artworks, unlocking a new level of accessibility for collectors.
The platform ensures the security and authenticity of the ownership process through blockchain certification, eliminating the possibility of forgery. This innovative approach is set to open new doors to iconic works of art, bringing the classic art market into the digital age.
Banksy’s “Turf War,” known for its depiction of Winston Churchill as a dissident punk rock figure, is one of his earliest and most famous works. All paintings from the 10101.art collection are now on display for public viewing at the Monada Art gallery in Dubai, with plans to open additional galleries worldwide in 2024.
Nike and RTFKT Collaboration: Redefining NFT-Linked Fashion
In a parallel development, Nike has been at the forefront of accelerating the adoption of NFT-related fashion, following its 2021 acquisition of crypto startup RTFKT. This collaboration has reshaped the way NFT-linked real-world footwear is purchased, breaking down barriers for consumers.
Nike’s recent partnership with RTFKT has led to the launch of a public pre-sale for the new RTFKT Dunk Genesis sneakers, allowing anyone to purchase them without the need to own an RTFKT NFT. The sneakers, priced at $222 each, are connected to NFTs through an NFC chip called the RTFKT World Merging chip, enabling digital collectible ownership linked to the physical product.
The collaboration has also seen the release of the RTFKT x Nike Air Force 1, earlier this year, which required the purchase of NFT to redeem real-world sneakers. RTFKT’s Clone X collection of valuable NFT profile images has also gained significant traction, with trades totaling $852 million.
Despite the lack of clarity on the underlying blockchain used for the associated NFTs, the collaboration has set a new standard for the intersection of fashion and digital collectibles, offering consumers a seamless way to engage with NFT-linked products.
As the world of art and fashion continues to embrace the potential of NFTs, these developments are poised to redefine ownership and accessibility in the digital age.
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