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Valuart, a fresh blockchain ecosystem that allows users to collect and buy non-fungible tokens (NFTs) from multiple artists, announced its first drop named “Spike,” which is set to be auctioned as a 1:1 NFT, with half of the proceeds reserved for charity.
Spike is based on the original artwork of the same name, created in Palestine by a popular British street artist Banksy. The piece is now in possession of the Italian tenor and Valuart co-founder Vittorio Grigòlo, who decided to auction the digital original version of Banksy’s artwork.
Valuart’s mission is to reinterpret some of the world’s most distinguished artworks and to present collectors with an opportunity to buy a piece of creative history. Valuart has partnered up with some of the leading artists, institutions, and celebrities to achieve this goal.
In collaboration with the creator of the physical asset, Valuart verifies the authenticity of a blockchain-based artwork and then produces a digital version of that piece, contextualizing it into unique stories in a bid to create a new standard for the NFT art market.
“I’m thrilled to participate in this project and use my voice to create a magical atmosphere for the rebirth of this extraordinary piece of art I discovered more than a decade ago. I cannot wait to share this amazing creation with the public,” said Vittorio Grigòlo.
Half of the proceeds that will come from the auction of the drop will go to those suffering from conflicts around the world.
Valuart is an ecosystem founded by crypto enthusiasts Etan Genini, Vittorio Grigòlo, and Michele Fiscalini, which aims to help artists to realize the true value of their art. The platform connects collectors with artists, creating new monetization opportunities through NFTs.
According to Reuters, NFT trading volume surged to new highs with 2.5 billion USD in sales recorded in the first half of the year.