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Artifya debuts Sophie Brussaux's painting collection as NFT worth $66m

Amid much fanfare, Artifya launched Sophie Brussaux's socially engaged art collection of 13 paintings worth $66 million on March 31. The project began with the auction of a painting called '2020 Vision', on social media platform Clubhouse, and NFT marketplace OpenSea.  
 
As a testament to its success, the launch was followed by overwhelming traffic to the Artifya website, resulting in a temporary halt of sales. However, the bidding is still open on Opensea, and the paintings will henceforth be launched weekly. Based on early response, Brussaux's NFTs are expected to engage over 300,000 users, and 30,000 customers/investors.
 
These paintings will showcase Artifya’s innovative technology that “ages” NFTs over the period of nine years, in what can be termed as representative of an artworks' life-cycle value. A significant portion of the sales proceeds will go towards social causes and charities, including Brussaux's Arts Help foundation, which engages institutions to develop impactful projects and programming, while using art as the vehicle for social change.
 
Sophie Brussaux, who is among the leading voices in contemporary, socially engaged art, believes this new tech-enabled model will empower artists and creative minds, globally. “I would like to thank the incredible set of partners who have supported me on this journey”, said Sophie, commenting on her maiden NFT launch. “I am excited to launch my first set of NFTs, using technology as an enabler of art and human experiences. The Artifya leadership team has been championing this emerging art ecosystem, with unparalleled passion and devotion”.
 
Kamran Durrani, the Creative Director of Artifya, echoed the artist’s optimism about the convergence of art and technology. “Our team has been fortunate to work with hundreds of art projects and creators - from gaming companies and digital artists, to musicians and professional athletes”, said Kamran. “There is a rising global recognition of the possibilities that NFTs can unlock, especially in the world of art, and this is evident in the response to this launch.”
 
A non-fungible token (NFT) is a unit of data on a digital ledger called a blockchain, where each NFT can represent a unique digital item, and thus they are not interchangeable. NFTs can represent digital files such as art, audio, videos, items in video games and other forms of creative work.
 
Mainstream acceptance of NFTs is also evident from mega investors like Mark Cuban and Accel Partners entering this growing market, in recent times. Once considered a fringe movement, NFTs are now empowering and inspiring a new generation of artists, by helping them monetize their creations, through highly transparent and inclusive Blockchain-based ecosystems. As the market for digital collectibles continues to boom, a recent round of funding saw Dapper Labs, the startup behind virtual trading-card platform NBA Top Shot, recent valuation rise to $2.4 Billion.
 
According to Arab Whale, Blockchain proponent, and Co-Founder of Ethereum GeneSys, Khurram Shroff, NFTs constitute the next evolutionary phase of both tangible and intangible art forms. “Creators, musicians, artists, influencers, and gamers all over the world, are diving headfirst into NFTs. Every day, hundreds and thousands of new users are discovering, collecting, curating, and trading NFTs, on open marketplaces. In the last six months or so, transaction volume on NFT marketplaces has grown over 100x”, Khurram added.
 
Khurram Shroff, who is also a member of Artifya's Board of Directors, is the brain behind Ethereum GeneSys, which is powering Artifya's unique value proposition in the NFT ecosystem. Due to backing from Ethereum GeneSys, Artifya boasts the lowest transaction fees and code flexibility, which leaves room for constant NFT innovation.
 
“There is a growing consensus that there are critical building blocks still missing from the internet. Digital mechanisms such as NFTs will result in a more vibrant, egalitarian, and open global economy. Artifya is creating a blueprint for these emerging possibilities”, Khurram concluded. - TradeArabia News Service