Heirs of Pablo Picasso have released 1,010 digital art pieces of one ceramic work that was never been seen publicly. Picasso was a famed 20th-century Spanish artist and his art will be emerging into the 21st century. It is riding the fad for “crypto” assets that have taken the art and financial worlds by storm.
In an exclusive interview, Picasso’s granddaughter, Marina Picasso, and her son Florian Picasso opened up their apartment which is filled with artwork. They’re looking to cash in and ride the trend of interest in so-called non-fungible tokens, or NFTs. They have netted millions for far-less-known artists and been criticized by some as environmentally costly get-rich schemes.
In economic terms, an NFT is an asset that can be exchanged on a one-for-one basis. A fungible token has its own distinct value, like an old house or classic car. NFTs are attached with cryptocurrency technology known as the blockchain as an effective digital certificate of authenticity. Florian Picasso said “We’re trying to build a bridge between the NFT world and the fine art world,”
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