Some of the heirs of the great Spanish artist Pablo Picasso are jumping on the digital bandwagon by selling 1,010 digital artworks which are representations of one of his ceramic works that has never been seen publicly.
Crypto, or digital, assets are soaring despite the recent drop in value of Bitcoin and other digital currencies, and Picasso’s granddaughter and great-grandson are riding the wave by launching the new product.
The Associated Press had an exclusive interview with Picasso’s granddaughter, Marina Picasso, and her son Florian Picasso at their apartment in Geneva, Switzerland, which is full of artistic works of all kinds created by the great man.
Pablo Picasso’s work becomes NFT after lesser-known artists enter the market
However, they were a bit shy about showing the entire piece to photographers lest they diminish the value of the piece, which is a ceramic disc or tray with multicolored patterns in green, yellow and gray .
The artwork will be part of what they call an unprecedented fusion of fine art and digital assets, which will be a non-fungible token, or NFT, an asset that has already earned many other artists millions.
However, cryptocurrency of all types has been criticized for its incredible cost to the environment, as large amounts of electricity are required to mine the currency.
A fungible token – like a dollar or even a bitcoin – is an asset that can be traded on a one-to-one basis. Conversely, a non-fungible token – like art – has its own value.
So NFTs are essentially like digital certificates of authenticity for digital art – and in fact anything you can see or hear online, including audio files of any kind.
Florian Picasso, the artist’s great-grandson, told the AP “We are trying to build a bridge between the NFT world and the world of fine art. “We’re going to build a new generation of Picasso fans in a new way – because everything is changing, and now the way we communicate and exchange information and data is changing.”
Picasso went on to say that in March, after the “first wave” of the sale, his family held a “one-on-one” sale with Sotheby’s, “with one of the NFTs from this collection attached to a Picasso ceramic.” .
For now, the Picassos, who have proven to be wise stewards of their illustrious ancestor’s works, aren’t showing much of what they plan to market in this way, showing only part of the underside. a ceramic piece the size of a tray, on which the number “58” is seen.
Marina Picasso recalls that the beloved piece was created in October 1958, during her childhood.
“It’s a work that represents a face, and it’s very expressive,” she says, adding “It’s joyful, happy. It represents life… It’s one of those objects that have been part of our life, our intimate life — my life with my children.
Sotheby’s will not only hold an auction in March for the unique NFT, but will also sell the ceramic bowl itself.
Florian Picasso said the family agreed to share the Picasso ceramic because it was “a fun piece” to start the process with.
Explaining to interviewers that the NFT appropriately honors the great artist, Florian says, “I think it’s part of Picasso’s legacy, because we’re paying homage to him and his way of working, which has always been creative. »
Indeed, the artists of his generation have only been thinking outside the box, so it is perhaps normal that Picasso’s works are part of the new sales platform.
Additionally, the family say part of the proceeds will be donated to a charity tackling the shortage of nurses and an NGO dedicated to reducing carbon in the atmosphere.
Florian Picasso, DJ and music producer, with the help of songwriter John Legend and rapper Nas, has created music that will accompany the NFTs.
Cleverly giving the reporter a tiny hint of the music, Florian quickly turned it off after a few seconds, saying “And to hear more, you have to buy the NFT.”