Artist Andy Warhol has decided to offer for sale 4 works of art in fractional NFTs format, thanks to the Freeport platform.
In recent months we have seen the positive impacts of blockchain technology, and specifically NFTs, on various industries and professions around the world.
Many artists have managed to apply this disruptive technology to offer an innovative way to express their talents and offer their works in a slightly different way than what we are used to seeing traditionally, achieving a much greater global reach.
In order to mention some cases in which we have seen the application of this way of innovating in their works of art, we can mention the cases of Claire Silver (an NFT artist who uses AI), and SoyFira (a very influential crypto artist in Latin America).
On this occasion, a great news has come to light regarding 4 works of art that will be offered for sale in parts as fractional NFTs of the artist Andy Warhol, thanks to the Freeport platform.
Freeport argues that the tokenization of works of art implies a way to democratize the access of various types of investors to the field of art, so that it is not an exclusive requirement to have a large amount of money to be able to enter it.
Andy Warhol is a renowned artist who performs in pop art. In this opportunity, he will offer some of his most important works through the ethereum blockchain, thanks to blockchain technology.
From the Freeport platform they have started the initiative to offer the release of four works as fractional NFTs, as a community gallery of artworks in the format of non-fungible tokens.
Since these works are offered as fractions of NFT, users interested in making a purchase will be able to buy and claim ownership of a fraction of such work, not being necessary to invest a considerable amount when buying a complete work.
Likewise, the artist has established the launch of his collection in May, which will include some of his most important works, such as “Double Mickey”, “Marilyn”, “Mick Jagger”, and “Rebel Without a Cause”.
In this way, it has been known that each work will be divided into 10,000 pieces in NFT format, with a minimum purchase of 10 fractions per person. In this sense, they also establish a maximum number of investors that have a single piece, reaching a maximum of 1000 investors.
At the same time, the initial prices of each NFT fraction have been announced, which will be between $250 usd and $860 usd, as stated on their website.
Those tokenized pieces of Mick Jagger ‘s work (1975) will have a starting price of $250 dollars per lot. The Marilyn pieces will start at around $600 per lot. The Double Mickey pieces will start at $860 dollars per lot, and no further information has been obtained on the remaining works. A total of 1,000 lots will be available for each of these works.
Written by Luciano Garriga (Tw: luchogarriga) for NFT Express.
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