Collectors of fine art and devotees of the cult classic science fiction film Alien will soon have the opportunity to acquire a digital artwork that is a fractionalized version of a rare sculpture created by the late Swiss artist H.R. Giger.
According to the website of company, the sale will be conducted by the digital art platform Particle, which makes use of blockchain technology in order to provide fractionalized ownership of culturally significant artworks.
This statue, which has been given the title “Necronom/Alien III, 2005,” is one of a group of six different statues. However, it is the only one that Giger himself created.
Particle has divided its ownership into 500 digital “particles” that will be traded as non-fungible tokens (NFTs), with each NFT representing a 1/500th interest. The value of the assets is more than $240,000.
On June 16th, the NFTs will be put up for sale, and each one will cost $1,000.
Holders of a portion of the sculpture will have the right to vote on whether or not the actual work of art should be sold in the event that an offer is made to purchase it.
Particle made waves in the past when it tokenized and fractionalized a painting by Banksy titled “Love is in the Air,” which it had previously purchased at a Sotheby’s auction in March 2021 for a price of $12.9 million.
Particle manufactured 10,000 “Love” particles, which were subsequently turned into NFTs and sold for a price of $1,500 apiece. Since the particles were first made available, their value has decreased to approximately $500, which is the current floor price.
Participants who already possess “Love is in the Air” particles will be eligible for a discount of $200 off their purchase of Alien NFT.
Giger sculpture, which is composed of steel and polyester resin, is more than seven feet long and three feet tall. It will be presented in Lisbon between June 7 and 8 via the ownership of H.R. Giger Museum.
The piece will be displayed at the Hluboka Castle in Prague as part of an exhibition centered on Giger. Following that, it will appear at Art Basel in Switzerland and an undisclosed venue in Paris.
“Through the tokenized sale of this iconic ‘Alien’ design, we hope to bring Giger’s artistic legacy to greater audience.” Stated Harold Eytan, the CEO of Particle. “Alien” is a trademark of 20th Century Fox.
“Giger’s profound exploration of the depths of the human psyche through art is one of the few artists who come close to encapsulating this truth,” said the company. “We believe art, film, and music transcend borders and human-created boundaries.”
The tokenization of artworks through the utilization of blockchain technology may have a number of advantages.
Tokenization enables fractional ownership of a single piece of artwork, which in turn enables people to engage in art market. This opens up the market to a wider audience.
In addition, tokenization has the potential to generate new investment opportunities. By facilitating access to investment products that are based on the value of an artwork. Because of this, investors are given the opportunity to diversify their portfolios and acquire access to historically exclusive art assets.
Additionally contributing to increased market liquidity is the practice of fractional ownership of artworks. They are in need of liquidity, it provides a new alternative to sell theirs without selling their complete artwork. This makes the ownership more flexible and transferrable.
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