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Valuart Launches Inaugural NFT Art Auction Featuring Banksy’s ‘Spike’

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by Julia Sakovich · 3 min read
Valuart Launches Inaugural NFT Art Auction Featuring Banksy’s ‘Spike’
Photo: Valuart

With NFT art quickly becoming a preferred investment asset for crypto enthusiasts, Valuart serves as the platform that supports the interest of both artists and buyers.

Endeavoring to make it easier for artists and institutions to join the budding NFT market, Valuart is commencing the first set of monthly auctions containing exclusive works from notable artists, starting with a work produced by Banksy.

Exclusive ‘Digital Original’ NFTs Now Available for Bidding

Founded by crypto enthusiasts and artists, Valuart, a startup minting licensed NFTs from original artworks, aims to help artists realize the intrinsic value of their work. From today, the platform will begin unveiling a series of exclusive monthly auctions of NFT masterpieces created by some of the most renowned artists worldwide.

The Valuart auction kicked off today with ‘Spike,’ a unique artwork by the infamous street artist Banksy. Created in Palestine in 2005, Italian tenor and Valuart co-founder Vittorio Grigòlo currently owns this artwork. As per Valuart, 50% of the revenue derived from the first NFT will be donated to charity.

The NFT version of the original piece features CGI artwork combined with an aria performed by Vittorio. Per the NFT storyline, ‘Spike’ can be seen slowly drifting through the universe until it eventually returns to its rightful place on Earth, to emerge as a newly minted NFT.

Following this exclusive NFT drop, Valuart plans to launch digital originals (1:1 digital clones) of some of the world’s most iconic ‘licensed’ artworks, including the drop of the “Mantum and the Stole” scheduled for October 22nd. This unique artwork by Stefano Zanella was first worn on December 24, 1999, by Pope John Paul II to mark the opening of the Holy Door of the Vatican Basilica.

Per Vittorio Grigòlo, Co-founder of Valuart, “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.”

Transforming the Art Commercialization Paradigm

The Valuart ecosystem is designed to help creators, creations, and creativity thrive while enabling high-end artistic crossovers, offering more value to both artists and consumers. By creating an NFT, Valuart incorporates an additional layer of security for the original artwork to increase its overall value.

While the globe’s most prominent art auction houses can stoke demand for physical artwork, they don’t have the infrastructure to digitize art or mint NFTs for each work. Even if they do, the initial costs will be significant. To fill this gap, Valuart firmly positions itself as the primary original art digitization and NFT provider by building a backlog of partnerships and contracts with artists, art foundations, and art collectors.

Designed to support and accelerate the whole process of art commercialization, Valuart tokenizes the certificate of authenticity for individual physical arts and creates a new ‘Digital Original’ NFT from the original piece. Valuart also implements social media and outreach programs to sell the NFTs through its auction platform.

With NFT art quickly becoming a preferred investment asset for crypto enthusiasts, Valuart serves as the only platform that supports the interest of both artists and buyers, all while optimizing the end-to-end process to gain efficiency and generate alternative revenue streams.

Altcoin News, Blockchain News, Cryptocurrency news, News
Julia Sakovich
Editor-in-Chief Julia Sakovich

Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.

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