Particle, a company that proudly proclaims they are “Democratizing ownership of fine art masterpieces” have announced their latest project during Art Basel Miami, Banksy’s “Love Is In The Air (Flower Thrower)”.
The pseudonymous British-based Banksy needs little to no introduction at this point. One of the most, influential creative artists in the world. His piece Love Is In The Air (Flower Thrower) first appeared in Jerusalem and was recreated as a 1/1 piece that sold at Sotheby’s for $12.9 Million, with the payment entirely facilitated with Cryptocurrency.
#AuctionUpdate: Following a 14-minute bidding battle between 4 bidders, Banksy’s iconic protest image ‘Love is in the Air’ achieves $12.9 million. The sale marks the first time #cryptocurrency was accepted as a payment option for a physical artwork. #Banksy pic.twitter.com/uKIYeUu3IU
— Sotheby’s (@Sothebys) May 12, 2021
Particle aims to digitalise and divide the piece into 10,000 individual segments. With interested parties able to purchase their own slice of the artwork for around $1500, each Particle will represent minor ownership and come with a collectors card that shows the entire artwork and the location of your Particle. The most interesting aspect here is the potential formation of ”consortiums” to increase buying power, similar to how ConsortiumDAO formed last year. They narrowly missed out on purchasing an original copy of The Constitution last year via Sotheby’s, it was ultimately sold to Kenneth C. Griffin, a high net worth collector and hedge fund mogul, for $43 million.
On May 12, 2021 following a 14-minute bidding battle between 4 buyers, Particle’s founders prevailed and acquired our first masterpiece for $12.9 million, thus becoming the first buyers to purchase a #Banksy with cryptocurrency. #ParticleNFT #LetsMakeHistory pic.twitter.com/zZckXZdErw
— Particle Collection (@Collectparticle) December 8, 2021
Particle’s concept is certainly unique in the NFT world, allowing “normal” buyers to expand their investment portfolio in ways that were previously only available to high net worth collectors or hedge funds. They certainly have the right credentials and experience to inspire confidence in the project, with project lead Loic Gouzer himself, a former head of contemporary art at the world-famous Christie’s.
1/ You probably recognize this piece of iconic art. ‘Love Is In The Air’ by Banksy. Now you can own a piece of it. pic.twitter.com/PMmZfGsMP9
— Emin Gün Sirer???? (@el33th4xor) December 1, 2021
The NFT world is an exciting and burgeoning new space that certainly has it’s highs and lows. It can be hard to understand and scepticism abounds. Projects are generally released without the traditional methods of verifying trust. Indeed it’s not often that the founder of a project is a well-known and respected real-world figure, let alone a certified expert in his field.
Of more significance is the choice of Blockchain. Avalanche is a relatively new contender in the scene and for it to be chosen shows that it has the right elements to really inspire confidence in the future.
Make sure to follow Particle and sign up for the waitlist today!
If you liked this article, make sure to read Avalanche – The Best Blockchain
