NFT ‘Spike’ Based on Banksy Artwork CGI Sold for 65 ETH on Valuart

Sahaj  |  Aug 4, 2021

In accordance with the official press release, Valuart, an NFT company based on Banksy Artwork, has recently concluded their recent NFT auction where they sold NFT Artwork called ‘Spike.’ As revealed, 50% of the funds proceeded from the auction will go to charity. 

Valuart Auctions NFT ‘Spike’ Based on Banksy Artwork CGI

Spike NFT is based on the famous artist Banksy's work with the exact same name. The non-fungible token was created with the usage of CGI and aria “E lucevan le Stelle,” which was performed by world-famous tenor Vittorio Grigolo.

Reportedly, Valuart is recreating the most iconic artworks ever create and modernizing classic mediums that allow modern investors to acquire pieces of art in digital form. For that specific purpose, the company has hired leading artists, institutions, and celebrities.

The company certifies the authenticity of artwork on the blockchain and then releases a Digital Original of the artwork. 

In addition to the Spike art itself, Valuart examined NFT into adding various content to it with the help of market-leading creators. 

Moreover, it should be noted that Valuart has already prepared for their next project which is an NFT and only digital version of the Mantum and the Stole. 

The pierce was crafted by Stefano Zanella and worn by Pope John Paul II on the very night of the opening of the Holy Door of the Vatican Basilica.

Jeff Gluck of CXIP on the Sale of this NFT

The copyright lawyer for CXIP Labs, Jeff Gluck, said:

If Banksy had not given his permission for this Spike NFT, then it could appear to be unauthorized and illegitimate. The rights to create an NFT of artwork are held by the creator, the copyright holder — not the person who possesses the artwork.”

In addition to this, Etan Genini, one of the co-founders of Valuart, stated:

 “We are not taking the piece of art making a digital copy. We digitized the property we own and the NFT is an installation as a CGI video production that we’ve worked with artists to create.”

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