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Valuart Commences First NFT Auction For Banksy’s ‘Spike’ From Its Exclusive Lineup Of Works

Valuart Commences First NFT Auction For Banksy’s ‘Spike’ From Its Exclusive Lineup Of Works

Valuart has entered the NFT market with its first digital original version of ‘Spike’ by Banksy, now listed for auction. The 1:1 NFT dropped today represents the first of a series of exclusive monthly drops.

‘Digital Original’ NFTs Of Renowned Works To Hit The Auction Block

To cater to the growing demand of NFTs and empower artists by helping them harvest more value from work, Valuart, a startup minting licensed NFTs from original artworks, is creating ‘Enhanced NFTs’ of original art. As part of their mission to revolutionize the art NFT universe, Valuart plans to launch digital originals (1:1 digital clones) of some of the world’s most iconic ‘licensed’ works.

Starting today, July 22nd, Valuart will continue unveiling a series of exclusive NFTs created from licensed artworks of some of the most prominent artists. The first NFT, ‘Spike’ by Banksy, is now listed for auction on the official platform as a 1:1 NFT. Per Valuart, 50% of the revenue from the NFT auction will go towards charity. 

‘Spike’ is based on an original masterpiece from Banksy, a popular street artist known for his innovative works of art that prominently feature social and political activism. The original artwork is currently owned by Vittorio Grigòlo, Co-founder of Valuart and world-famous tenor, who has decided to auction the digital version. The NFT version of the ‘Spike’ masterpiece is a CGI artwork combined with an aria performed by Vittorio himself. The storyline for this new NFT depicts ‘Spike’ to be slowly drifting across space before making its way to Earth and emerges as a newly minted NFT.

Vittorio Grigòlo, Co-founder of Valuart, said, “I’m very excited about this new project. After months of hard work we can finally share with everyone what we created. I’m convinced that this is the future of how we perceive, admire and give value to art and artists. This first drop is just a stepping stone that will pave the way towards a very exciting future! We wanted to support the NFT revolution by creating a platform that would represent the safe haven for artists and their art, art collectors and art lovers in general.”

Following this, Valuart will mint ‘digital originals’ of other renowned artworks and creations from across the world. While details about the upcoming NFTs are still under wraps, Valuart has announced that it will drop the ‘Mantum and the Stole’ NFT on October 22. Created by Stefano Zanella, Pope John Paul II first wore this unique design on December 24, 1999, to mark the opening of the Holy Door of the Vatican Basilica.

Fostering A New Era Of Digital Art 

The NFT market continues to expand with few signs of slowing demand. During the first quarter of 2021, NFT trading volumes surged by 2100% compared to the fourth quarter of 2020, primarily driven by the growing retail adoption of digital collectibles.

As a platform, Valuart is dedicated to the curation, validation, and digitization of selected works via NFT technology, thereby adding more value to the art. By creating a backlog of partnerships with prominent creators, the platform ensures high-end artistic crossover while optimizing art commercialization. 

Valuart tokenizes physical art certificates of authenticity by employing blockchain technology before generating a ‘digital original’ version of the artwork. The platform then collaborates with artists to create ‘Licensed NFTs’ or ‘Enhanced NFTs’ by enabling crossovers between creators to benefit creators, collectors, and investors alike.

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