NEWS FROM THE DIGITAL AND NFT WORLD – 21 APRIL 2021
Every day Art Rights Magazine selects the best news from the world of digital art, to stay up to date!
1) Picasso and Warhol worth $ 22 million in NFT
Justin Sun, CEO of the cryptocurrency platform Tron, revealed that he has set up an investment fund that will aim to acquire blue-chip works of art, and then turn them into NFTs. Among the earliest works Sun bought are masterpieces by Picasso and Warhol worth over $ 22 million. Sun said “The JUST NFT Fund was born to build a bridge between top-notch artists and blockchain, to support the growth of native NFT artists.”
2) Atlanta ABV Gallery, among the first physical galleries to host an NFT exhibition
ABV Gallery Atlanta’s physical gallery of contemporary art is among the first to host an NFT exhibition. On March 20 he inaugurated “Chain Reaction”, a Crypto Art exhibition in collaboration with Nifty Gateway. The event was a success: all the works were sold, with a maximum bid of $ 45,000 for Victor Mosquera’s “Gemini II”.
3) NFT prices collapse, but the market does not stop
Although today – according to a report by NonFungible – Crypto Art fever has subsided and the average price of an NFT work has dropped from $ 4,000 in mid-March to around $ 1,500, these numbers remain 15 times higher than in recent months. Furthermore, two crucial events for the history of cryptocurrencies have recently occurred: the direct listing of the Coinbase exchange on Nasdaq, the largest technology market in the world, and the highly anticipated auction organized by Sotheby’s on the Nifty Gateway platform of the artist Pak .