Unique NFT auction: community will face big investors
The hype for non-fungible tokens (NFTs) is reaching new heights. In the first half of 2021 alone, NFT’s sales reached $ 2.5 billion in value. This new technology bridges the gap between the physical and digital worlds by providing a solution that preserves the authenticity and ownership of art in the digital space. However, skeptics question the real financial and artistic value of .jpg images that are worth millions.
superhow.ART brings a new standard to the NFT art market by launching a special auction where a real oil painting, “The Head with the Legs”, by one of the greatest Russian surrealist artists, Oleg Tselkov, will be auctioned with the corresponding NFT.
The project brings back the essence of NFTs, leaving aside the hype and connecting tangible global assets to the digital, encouraging the artistic community to invest in an authentic, authentic and truly valuable work of art.
Traditionally, the art market has been concentrated in the hands of big players. However, blockchain technology strengthens the community. During the auction, superhow.ART will host an experimental competition between big investors and the community of enthusiasts to see who has the most power in their hands.
The auction will be launched on November 5, 2021 and will last for one week. The auction organizers will encourage friendly competition from the artistic community by hosting two auction parties: the whales and the shrimp. This will make the auction open to both major and minor bidders.
“We come into the market with a challenge to see who wins. We want to check if the whales are still there, if they are stronger than the community. Maybe the community will show that the small market players have strength. spouses can earn and become fractional owners of this great investment asset, ”explains Vytautas Kašėta, CEO of superhow.ART.
The organizers define the Whales as high-stakes bidders capable of bidding large amounts on the board. Shrimp are the community of small bidders who can team up with other shrimp to fight whales.
To win, whales must outbid previous auctions. All the bids placed by the shrimp are accumulated in a pool, which competes with the whale’s bid. If a whale wins, it gets the actual paint and is awarded the corresponding NFT.
If Shrimps wins, the painting remains in the gallery but will become the condominium. An NFT for the artwork will be divided into several parts, corresponding to the shrimp auctions and assigned to their wallet addresses.
If the shrimp decide to unite and give their shares to one person, which reaches 75% of the total bid, that shrimp can claim the painting and take it home.
Work of an important artist
Tselkov was a Russian postwar surrealist. His prodigious career justifies Simon Hewitt’s assertion that “Tselkov is destined to be recognized as the greatest Russian artist of his time”.
The dominant aspect of Tselkov’s canvases is the challenge of the patterns. This is why the controversy has become synonymous with the work of the artist.
His unique designs and refusal to change his creative direction resulted in the budding artist’s expulsion from Moscow and Leningrad art schools, and in 1977 Tselkov was exiled from Russia, allegedly on ideological grounds.
The end of the Cold War and the loosening of Russian attitude towards avant-garde and contemporary art resulted in a complete reassessment of Tselkov’s work in the artist’s homeland and the recognition of his impact on the development of contemporary painting.
Besides prestigious awards, the painter’s work is featured in many important collections, including famous museums and galleries and many private collections around the world.
During the auction, bidders will compete for Tselkov’s influential work, an oil on canvas titled “Head with Legs” (2014), which currently resides in a private collection in Lithuania at the Galerie d Arty Cube art. The 130 × 195 cm painting presents a disturbing but gratifying rendering of a human body, facial expression and bright, contrasting colors.
“With a work by this rebellious artist, we enter this world of digital works of art, bridging the real and the digital with this physical asset,” notes Kašėta.
Committed to innovation
SUPER HOW? is an innovative research and development company committed to harnessing the power of blockchain for the advancement of society with next-generation solutions.
The SUPER HOW? The team strongly believes that the converging blockchain with other technologies such as artificial intelligence is the backbone of almost all leading infrastructure with vast potential in many areas.
Blockchain technology is expected to be widely used in areas such as healthcare, government, finance, education, manufacturing, transportation, and logistics soon.
Entering the art world is the next step for the company to improve blockchain technology adoption and define the future of NFTs. According to the team, it should be about art and culture, no hype and shoddy images.
“We hope this experience will be a success, and we will continue to bring more artwork in the future, presenting superhow.ART as a platform to symbolize the assets of painting,” said Vytautas Kašėta .
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