In the first three quarters of this year, the value of global sales of NFT, ie non-exchangeable tokens, reached $ 3.5 billion. – It turns out that “Hiscox Online Art Trade Report 2021”. Digital art trading with blockchain-based certifications is rapidly gaining popularity. DESA Unicum wants to use this potential. In December, as the first auction house in Poland and Central and Eastern Europe, it will present to collectors a digital work by Pavel Kowalewski with the sign “Why is there something?” Next year, auctions of virtual works of art will become a periodic event for the Polish auction house.
– NFT is emerging in the global art market, but it is taking it by storm. Everyone is watching closely the direction in which it will develop, but also trying to experiment on it. This non-offline digital art ‘The reality, which exists only in the form of a perfectly protected computer file, will in some sense complement this standard, traditional art market. – Juliusz Windorbski, General Director of DESA SA, says Newseria Business Agency.
With the exchange of non-exchangeable NFT tokens and their use, the digital art commerce market is gaining popularity. According to Nonfungible.com, the value of digital work in 2020 is estimated at about $ 250 million, which is four times more than the previous year. In turn, the Hiscox Online Art Trade Report 2021 shows that in the first three quarters of this year, the value of global sales of the entire oil market has already reached $ 3.5 billion.
The meteor boom was due to record prices for the NFT works of the most prestigious auction houses – Sotheby’s, Christie’s and Phillips – and the largest digital art platforms. In March of this year. Mike Winkelman’s (aka Beeple) digital art “Everydays: The First 5000 Days” was sold at auction by Christie’s for $ 69 million at the highest price of all time. The buyer – Indian investor Vignesh Sundaresan – received an authentic NFT token.
– Another record “CryptoPunki “, Created by Larva Labs studio. Selected digital people are currently selling for about $ 7 million, and the total value of this series is $ 1.5 billion. – Julia Materna, special projects manager at DESA Unicum auction house.
NFTs are described as “non-exchangeable” tokens because each is unique and has a different value. This is, for example, a unique certificate of ownership for a photo, photo or other form of NFT.
Until recently, the obstacle to digital art was the inability to clearly identify ownership (for example, by copying files and rotating them slowly). NFT gives you a unique opportunity to document your property rights in the digital world.
Trading in NFT – as in cryptocurrencies – is carried out through a blockchain network. All transactions, as well as information about the buyer, seller, transaction amount, block number and time stamp, are open and can be verified.
– NFT or non-fungible tokens in English serve as a certificate on the Internet. This is something new in the market, because so far it has not been possible to demonstrate ownership in the digital space. On the other hand, NFT allows you to create property rights on the Internet, and this is the innovation of this technology. NFT is unique, unshakable – Julia Materna explains.
NFT-certified digital artwork, like traditional ones, can be resold to subsequent buyers. However, the token cannot be copied or transferred without the consent of the owner. This makes this technology an ideal tool for collectors to store information about the authenticity and ownership of a particular business.
– We have several uses of NFT in art. The first is new, young artists who create their works on a computer and release them in the form of NFT. However, this technology can also save old jobs. And this is the work of Paweł Kowalewski, which we have listed at DESA Unicum. The image was lost during the flood, but because NFT technology is a digital file, it allowed us to revive it. – Says the manager of special projects at the auction house DESA Unicum. – An example of the use of NFT is the work of Andy Warhol, who created digital files on his computer in the 1980s. They were maintained by the Andy Warhol Foundation in 2014, so they could be encoded on a blockchain network. To date, five unique NFTs worth more than $ 3 million have been sold.
DESA Unicum will offer collectors digital work carrying NFT by Paweł Kowalewski, “Why there is something for some reason.” The work will be put up for auction on December 2 this year. At the auction “Contemporary Art: Pop-art, pop culture, postmodernism”.
– As the first auction house in Central and Eastern Europe, we decided to put a digital image in the form of NFT for a traditional auction. At the auction in December, Pavel Kovalevsky’s famous work, destroyed in the 1990s, will be put up for auction. will reappear on the market and be revived as a computer file – The President of DESA SA emphasizes.
The December auction is a precedent in the Polish and European art markets, but DESA is not content with that. Next year, auctions of NFT-certified virtual works of art will become a recurring event at the Polish auction house.
– The NFT market is relatively young, but we see a lot of interest from completely new customers that we have never seen in the traditional market and focus on digital art. They begin to collect these files in isolation from the traditional market. And I think this trend will continue to grow and surprise us many times – Juliusz Windorbski forecasts.