A new digital artwork ecosystem Valuart is entering the non-fungible tokens (NFT) scene with their first drop named “Spike,” created by the iconic street artist Banksy. The piece will be auctioned in less than a day. Half of all proceeds raised will be directed to charity.
Story of the artwork
Provocative works of Banksy are always sparking imagination and could be described as an attempt to reclaim public spaces. Artwork “Spike” is based on the original piece of the same name, which was created by Banksy in Palestine.
During his travels in the West Bank, an artist took a piece of the wall, separating conflicting Israel and the West Bank. By cultivating mystery, he wrote a word on it and hid the stone. It was announced that the lucky one to find the stone and email the secret word would become a certified owner of this artwork.
The treasure hunt was successful for one of Valuart’s co-founders and world-famous tenor, Vittorio Grigòlo. Grigòlo is reimagining the original piece by adding a storyline and breathtaking aria, performed by himself.
Valuart is proud to enable the rebirth of this extraordinary piece of art, presented as part of a magical environment generated by blending the result of state-of-the-art technologies with the voice of Vittorio Grigòlo.
Mission in the art world
NFT’s coming into the art world is changing the ownership paradigms as well as the artist’s role. It can bring positive changes.
Valuart intends to reimagine some of the most famous artworks ever created and give today’s collectors a chance to acquire a piece of creative history.
According to Etan Genini, Co-founder at Valuart, the NFT technology is empowering because it can actually mathematically measure and show the value of the artwork. However, by focusing only on technological infrastructure, it could be easily forgotten that the current system is not artist-friendly.
Co-founders of Valuart are coming from various backgrounds, so they grasped the current problem. Embracing new technologies in art, such as NFT, opens a new door to artists and art collectors. Valuart is ambitious to facilitate this process for both sides to build a future of the art world.
On The Flipside
- However Valuart is a new player in the NFT space. It faces the same challenges as other NFT projects – fight for recognition, user base and spotlight.