Particle , a New York-based NFT platform, is launching by splitting Banksy's 2005 painting "Love is in the Air" into 10,000 NFTs, allowing everyone to own a piece of the legendary work. In May 2021, the platform paid $12.9 million for the painting at Sotheby's auction and will divide it into a 100x100 grid via a "particalisation" method. "All parts of the painting will be valued the same and assigned at random," said a platform spokeswoman. Each Particle is one-of-a-kind, allowing the owner to have a one-of-a-kind experience with the artwork.
When a buyer buys a Particle, they'll get a digital certificate, often known as a collector's card, that proves they possess the painting. Collectors will be able to purchase and sell their NFTs on secondary markets, transfer them at will, and view the painting whenever and wherever it is presented, as well as claim ownership of the picture as the only non-charitable owners of the works in the collection, according to the site.
On Friday, December 3rd, during Art Basel Week in Miami, Florida, the Particle Foundation will launch and display "Love is in the Air" at First Fridays at the Institute of Contemporary Art, Miami (ICA Miami). "Love is in the Air" is described by Sotheby's as "an iconic Banksy painting." The artwork has become instantly identifiable as a symbol of the artist's unique graphic style, caustic humor, and galvanizing political commentary."
"Banksy has flipped the art world upside down. Particle co-founder and former chair of Christie's Post-War and Contemporary Art, Loc Gouzer, said, "His bravery, humanitarian character, and a strong belief that art should be for everyone reflects the purpose of Particle, making this masterpiece symbolic to launch the platform with."
"The traditional art establishment has no idea what to make of Banksy, but here he is, revolutionarily penetrating it, and the world at large, from every angle." Particle co-founder Shingo Lavine said, "'Love is in the Air' is representative of a new chapter in the history of art, one that may be more accessible, collaborative, and community-based." The physical painting of "Love is in the Air" will be donated to the Particle Foundation, a non-profit organization tasked with maintaining, preserving, and touring the Particle community's collections.
Selena Mattei