Banksy’s Fractionalized NFT loans $12.9M for Global Museums

Banksy's Fractionalized NFT loans $12.9M for Global Museums

The “Love is in the Air” painting by Banksy will be loaned to major museums around the world by Particle, a digital art platform that lets people share high-value works of art in the form of NFTs.

What is Particle?

Particle is known as a global community connected by art. A digital platform that previews art ever since 2020. Up until now, it has enabled over 2,600 co-owners along with many high-profile figures like: Beeple, Paris Hilton and Kevin Rose. These co-owners participate in the ownership of many different masterpieces of their own preferences.

Love is in the Air

Co-owners of Particle’s artworks, such as “Love is in the Air,” voted to lend the Banksy painting to museums around the world as an example of the project’s latest H.R. GigerNecronom” sculpture, which served as a model for Ridley Scott’s “Alien” films. This decision was made after the co-owners of Particle’s artworks voted in favor of the idea.

The sculpture was fractionalized into 500 NFTs, and each NFT was shaped like an NFT.

“Love is in the Air,” from London to Barcelona and everywhere in between. 

The artwork “Love is in the Air” by Banksy was subdivided into 10,000 NFTs in the month of December 2021.

It is held by the Particle Foundation, which is a non-profit organization that manages the artworks according to what the co-owners decide. This is the case with all of the other fractionalized Particle artworks as well.

"Love is in the Air" painting by Banksy

The Chief Executive Officer of Particle, Harold Eytan, stated to Decrypt that “Owners get to vote on where the work goes.” “We plan unique events for collectors that are related to the art shows that we put on.” In addition, collectors will often receive their very own physical components in addition to the digital work on occasion. For instance, the most accomplished collectors are awarded an original print created by H.R. Giger.

This month, the painting that sold for $12.9 million and was created by Banksy will begin its journey in the United Kingdom. It is going to be displayed in Newmarket, England as part of a Street Art exhibition called “The Urban Frame: Mutiny in Color.”

After that, the artwork will embark on a tour, making stops at the MOCOs in Amsterdam and Barcelona for a total of six months each.

According to Eytan, “One of Particle’s goals is to make art ownership more accessible to everyone, both when it comes to buying and owning art, as well as when it comes to seeing and enjoying art.” “By allowing individuals to have joint ownership of artworks, we are able to free high-value works from storage and make them available for people all over the world to experience in person.”

The Original H.R. Giger ‘Alien’ Statue Will Be Offered for Sale as Limited Edition NFTs

Particle’s activities benefit the growing trend among institutions to embrace digital artwork and NFTs.

Recently, Sarah Meyohas and Jonas Lund were among the artists whose work was bought by the Centre Pompidou in Paris.

In a similar way, Cozomo De’ Medici gave pieces of Generative Art to the LACMA museum in Los Angeles. These pieces show the work of Dmitri Cherniak, Cai Guo-Quiang, Matt DesLauriers, and Monica Rizzoli.

“The future of art ownership and management will change as more institutions continue to accept digital art and NFTs,” said Eytan. “Platforms like Particle are a key part of shaping this future by creating a sense of shared ownership and making art ownership more accessible to everyone.”

Particle’s activities benefit the growing trend among institutions to embrace digital artwork and NFTs.

Platforms like Particle have a lot of benefits. For example, they let people share ownership of assets, so more people can get access to and invest in valuable things like art or real estate. 

This can open up investment opportunities to more people and make it easier for people to get money. Increase the amount of money in the market by tokenizing assets and making digital copies that can be traded, they make it easier to buy, sell, and trade assets, lowering barriers and making the market work better. and encourage new ideas and creativity.



About Ylleza Jashari

Senior student pursuing a degree in Security Studies at Rochester Institute of Technology. In my role as a Content Writer at Walletor, my primary objective is to develop informative content that effectively educates all Walletor users on the most up-to-date insights pertaining to financial transactions, digital wallets, and the broader cryptocurrency industry.

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