11/29/2021 at 10:13 am
THIS
SPORT.es
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A Banksy-inspired digital artwork will go up for auction and part of the proceeds will go to charity. The artist’s 2006 work “Warning Sign” has been reinvented as a non-fungible token (NFT), a unique digital certificate. The owner will also have a 5% stake in the original piece.
Media company Gloss, which owns both pieces, said the stake will “solidify” their value. and will drive a “seismic” shift in the digital and artistic worlds. NFTs, which was the Collins Dictionary’s word of the year in 2021, have divided opinion since they entered the public consciousness.
Critics have questioned how something digital, like a viral meme or video, which can be easily copied, it may retain some value. Former Christie auctioneer Charles Allsopp said the concept of buying one “doesn’t make sense” and that “the people who invest in it are insignificant.” a Gloss spokeswoman disagreed, saying “creating an NFT with a link to the world of physical art will help solidify the asset in both the real and digital world.”
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