NFT News: 21 October 2021
Wolfgang Beltracchi and his wife, Helene were convicted in 2011 of selling 14 forged paintings for $45m but he claims it was actually several hundred paintings for more than $100m. Often termed the Robin Hood or the Bonnie and Clyde of the art world, Beltracchi and Helene highlighted the problems associated with provenance for “original” artworks that turn up from time to time. For decades they fooled the art world with elaborate stories of how the pieces came into their possession.
Beltracchi is a very accomplished artist but that in its self doesn’t normally rake in $100m. The pair served their sentences from an open prison, working in a friends photographic study by day before returning for confinement each night. You can read more about the world’s best known forger and the chaos he caused in the artworld here.
Full details for the NFT are available via their FAQ. It’s a form of Dutch auction with bidding starting at a cool 10,000 ETH (over $38m) and falling to a minimum of 3 ETH ($11,400). There is no whitelisting required with such a high minimum bid for these NFTs. If all 4,608 NFTs sell it will bring in more than the $45m Beltracchi was convicted of making from his forgeries 10 years ago. No doubt galleries around the globe that didn’t check the provenance of his forgeries will be watching this NFT release (no pun intended) very closely.
A nice bonus for holders of hashmasks is that they will receive a 1 ETH discount on the final Dutch auction price!!!
NFT News: 14 October 2021
The market for NFTs in the last year has skyrocketed and shows no signs of slowing down with all recent major NFT releases being oversubscribed many times over!!!
The Galactic Punks release was an especially popular NFT release with a cost of just 3 LUNA (around $120) and an initial floor price of 70 LUNA. For rare Galactic Punks we have already seen a sale at close to $725,000.
If you are arranging a release and you want us to post an article for you on the site please provide full details via our contact form. We have recently listed some of our own ERC721 NFTs on the popular aftermarket site, OpenSea. We have a very rare NFT by popular trash artist Robness V2 and comes will full provenance. It’s over 27MB and at 3500 X 5500 it would be awesome on any living room wall or in any digital artwork gallery.