The Vasarely Foundation launches an Art NFT collection.
The Vasarely Foundation has put up for sale a series of 12 NFT d'art, digitizing a selection of physical works. Almost all the proceeds from this sale of NFT d'art will finance the restoration of Victor Vasarely's works of art.
The Fondation Vasarely's NFT series was launched on April 12, 2022, as part of a "Universe" sale that also included NFT by Paco Rabanne. The Fondation Vasarely's NFT collection comprises 12 NFT works by Victor Vasarely. This is the first series of 12 monumental works by Victor Vasarely in NFT form. Six of the NFTs are architectural integrations in need of restoration. Six others are digital works that will evolve as they are repaired, thanks to the Smart Contract coding that updates the work's metadata as it is restored. The works will be updated once a year for two years.
NFTs will be sold on its own site, purchasable using a crypto-currency wallet or credit card. Prices range from 600 euros (£500) to 220,000 euros (£185,000).
The Vasarely Foundation is the first cultural institution in France to create NFTs to finance the restoration of works of art. Most of the proceeds will be donated to the Vasarely Foundation in Aix-en-Provence, a center designed and financed by the artist himself, a first in France for a private foundation recognized as a public utility since 1971." The work of art that has become an object, thus detached from a plastic complex, exhibited, possessed, pampered for its own sake, stands out and freezes under the species of this unique function, a poetic function, at the service of a refined elite. "
