Crypto

The Vasarely Foundation calls for digital sponsorship to restore their works

Artistic patronage has just taken an avant-garde turn with the release of the NFT series of digital works at the Fondation Vasarely in Aix-en-Provence. The collection, put up for sale a few days ago, includes twelve digital reproductions of paintings by the Franco-Hungarian artist Victor Vasarely, six of which are monumental integrations designed to decorate his architectural center, which combines art and structure, opened in February 1976. more modest works are placed in the foundations, which are also in need of restoration.

Through this operation, the cultural institution, the first in France to cross the threshold of this revolution that shakes the artistic environment, hopes to restore some of the plastic artist’s main compositions to their original state, raising a total of 960,000 euros. from purchasers. They are paid in cryptocurrencies through the NFT Checkout app, a solution developed by fintech company MoonPay that allows users to instantly buy a digital work with their credit card and receive a digital property certificate backed by heavy computing in return. .

From 600 to 30,000 euros

The resulting digital images, designated NFT (an acronym for “non-fungible token”), are marked with an indelible seal of ownership guaranteed by the blockchain. Two images in one edition are sold for 30,000 euros each. Four others, published in a print run of 15 copies, are offered at a price of 9,000 euros, while the last six are “printed” in an edition of 100 copies and are sold for 600 euros each. With one originality: they will be updated as the originals are restored.

The work of Victor Vasarely is not the first investment in blockchain. Using the same technology as cryptocurrencies, more and more artists are making crypto art. Several so-called native NFTs, works that only exist in digital form, have hit record highs, such as artist Pak’s “Fusion” sold in December 2021 on the Nifty platform for $91.9 million. Almost 29,000 buyers participated in the sale of this canvas, divided into 266,445 units.

initiative

Vasarely Foundation

Creation date: 1976

President: Pierre Vasarely

Staff: 10 people

Sector: culture

Back to top button