Pablo Picasso’s heirs are the latest to cash in on the booming business that is the NFT space, as they recently announced they are selling 1,010 digital art pieces of one of his ceramic works — a work that has never before been seen publicly — the Associated Press reports. The news has NFT investors abuzz with excitement.
“We’re trying to build a bridge between the NFT world and the fine art world,” Florian Picasso, the artist’s great-grandson, told the AP.
Auction house Sotheby’s will host an auction in March that will include a unique NFT as well as the actual ceramic bowl, according to the AP. Picasso’s heirs said they aim to create a younger community of Picasso fans.
“Everything is evolving,” Florian Picasso told the AP, noting that the NFT honors the artist. “I think it fits within Picasso’s legacies because we are paying tribute to him and his way of working, which was always being creative,” he said.
NFTs to Blend With the Art World, Analysts Suggest
Dan Reitzik, CEO of metaverse company TerraZero Technologies, told GOBankingRates that “art’s legacy in culture has always been driven by the inherent value communities invest into the art and the artist’s work — just as much as any artist’s raw talent and genius.”