10101 Art revolutionizes Banksy art thanks to NFT

NFT news: 10101 Art is scheduled to debut on 27 November, offering the opportunity to fractionally own Banksy famous work “Turf War.”

Now, through the use of fractional ownership, blockchain technology and Non-Fungible Tokens (NFT), anyone can become a co-owner of original works by such caliber artists as Picasso, Dali, Warhol and many others.

See below for all the details.

NFT: the new way to invest in Banksy works

As anticipated, after making official its first collaboration with a Dubai gallery, the art tokenization platform, 10101.art, introduces the sale of Banksy’s work “Turf War.”

This iconic piece, named in honor of the celebrated artist’s first major exhibition in 2003, will be accessible for purchase as a fragment through tokenized digital asset technology, including NFTs.

The presale phase is scheduled for 27 November, offering a limited number of pieces at the discounted price of $60, a 40% discount. The main sale will follow immediately after the presale, with the remaining pieces available at $100.

10101.art presents itself as a revolutionary ecosystem that brings the classic art market into the digital age, removing barriers for collectors.

In fact, through its system of fragmented ownership, blockchain technology and Non-Fungible Tokens (NFTs), it enables anyone to become a co-owner of original works by prestigious artists such as Picasso, Dali, Warhol and others, allowing them to collect, create a portfolio, grant access and even sell them.

The process is completely secure and legally protected by a blockchain certificate, ensuring the authenticity of information about artworks without the possibility of forgery.

In other words, 10101.art emerges as an innovative and revolutionary force, opening new accessible doors to iconic works of art.

Recall that Banksy’s “Turf War,” one of his earliest and most famous works, is a stencil depicting Winston Churchill, known as “The British Bulldog” during World War II, with a green crest that transforms him into a dissident punk rock figure.

All paintings from the 10101.art collection are now on display for public viewing at the Monada Art gallery in DIFC, Dubai, with additional galleries scheduled to open worldwide in 2024.

More NFT news: Nike and the collaboration with RTFKT

Nike has played a leading role in accelerating the adoption of NFT-related fashion through its 2021 acquisition of crypto startup RTFKT.

Indeed, while in the past buying real-world footwear linked to NFTs required the possession of expensive digital tokens, Nike’s recent partnership with RTFKT has changed everything.

On Monday, Nike launched a public pre-sale for its new RTFKT Dunk Genesis sneakers, allowing anyone to purchase them without the need to own an RTFKT NFT.

The Nike x RTFKT Dunk Ghost Edition and Dunk VOID Edition are available for $222 each, and the purchase includes a T-shirt with both brands’ logos and the words “Oops, You Stepped Into the Future” on the front.

Despite the absence of a mandatory NFT for purchase, both sneakers are still connected to the NFTs.

In fact, there is an NFC chip inside the shoes called the RTFKT World Merging chip, which allows owners to obtain a digital collectible and link it to the physical product.

VOID Edition sneakers are scheduled to ship by 31 July 2024, while Ghost Editions will ship by 31 August 2024. Prior to the public sale, Nike and RTFKT have organized an exclusive pre-order window for existing NFT owners.

Despite the lack of clarity on the chain used to coin the associated NFTs, we know that RTFKT has previously used Ethereum. Nike, on the other hand, has its digital platform on Polygon, an Ethereum scaling network.

This new collaboration follows the launch of the RTFKT x Nike Air Force 1 earlier this year, which required the purchase of NFT to redeem real-world sneakers.

RTFKT is also known for Clone X, a collection of valuable NFT profile images, which generated trades totaling $852 million and saw secondary market prices starting at 1.4 ETH, about $2,850.