NFT Startup Valuart Is Launching an NFT Based on Banksy’s SPIKE Installation

Key highlights:

  • NFT startup Valuart is launching an NFT based on the 2005 SPIKE installation by Banksy
  • The piece is currently owned by Italian operatic tenor Vittorio Grigòlo, who is one of the founders of Valuart
  • Valuart says they plan to digitize more famous artworks and release them as NFTs

Valuart is launching an NFT featuring the SPIKE installation by Banksy

NFT startup Valuart is getting ready to launch its first NFT, featuring a piece of digital art based on Banksy’s SPIKE installation from 2005. SPIKE is a rock taken from the Israeli West Bank Barrier that was inscribed with the word “SPIKE” on its underside. The rock was then used as the prize for a treasure hunt. 

The piece is currently owned by Vittorio Grigòlo, an Italian operatic tenor with international acclaim. Grigòlo is also one of the founders of Valuart, alongside Etan Genini and Michele Fiscalini. Some of the content created by Valuart to accompany the NFT also features a vocal performance by Grigòlo.

The auction for the SPIKE NFT started today (July 22) at 22:22 CEST, and Valuart says that 50% of the proceeds will be “dedicated to supporting those suffering from conflicts throughout the world”.

Valuart says that their goal is to digitize famous artworks and issue them as NFTs as “Digital Originals”. These digital representations are then placed into new contexts – for example, the SPIKE NFT depicts a journey of the rock from space to the Dead Sea. 

The project said that it also has other NFT launches in its pipeline. Valuart says that on October 22, it will launch an NFT of “Mantum and the Stole”, a piece by Stefano Zanella that was worn by Pope John Paul II.

Vittorio Grigòlo commented on the upcoming launch of the SPIKE NFT, saying that it represents an important step for the evolution of how art is valued and perceived:

“After months of hard work, we can finally share our creation with the world. I’m convinced that Valuart’s model represents the future of how we perceive, admire and give value to art and artists. This first drop is a stepping stone that will pave the way towards a very exciting future for artists and their art, as well as art collectors and art lovers.”

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