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Tuesday, February 01, 2022

NFT and the Real Art World

Selling and reselling real Art?

 Picasso's Descendants to Sell More Than 1,000 NFTs Linked to Never-Before-Seen Ceramic Work

By The Washington Post, January 31, 2022

Pablo Picasso's descendants plan to auction off more than 1,000 digital pieces representing a previously unseen ceramic work by the Spanish artist.

The non-fungible tokens (NFTs) are connected to a ceramic piece the artist created in October 1958.  Purchasers will not own the ceramic or rights to images of it; they will be buying digital tokens, unique digital representations of the piece that certify their authenticity, Florian Picasso, his great-grandson, said, "We're trying to build a bridge between the NFT world and the fine art world."

The NFTs will be accompanied by music compiled by Florian Picasso, songwriter John Legend, and rapper Nas.  A portion of the proceeds of the auction are to be donated to charity.

From The Washington Post 

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