27/09/2021 A new flavour of non-fungible token: Vito Schnabel launches an NFT auction platform

ArtOfficial, developed with help from Gary Vaynerchuk, "aims to broaden the experience of digital art" and make its purchase more accessible and transparent

Daniel Cassady
Vito Schnabel

Vito SchnabelPortrait by Argenis Apolinario. Courtesy of Vito Schnabel Gallery.

The initial frenzy over NFTs proved to be infatuation rather than obsession. Sales that rack upover $60mmay have been a flash in the pan, but the NFTs are far from gone. In fact, some still believe in the power of the non-fungible token to, if not upend, then become a valuable addition to the art market. The NFT advocate Kenny Schachter in April said the digital works do not disrupt anything (as so many tech advances aim to do) but “rather present a market alternative to the traditional gallery system.”

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But what about when the establishment gallery system involves itself in NFTs. Vito Schnabel is taking his eponymous gallery into the non-fungible space by launching ArtOfficial, the first online auction platform created and run by a commercial gallery. Schnabel partnered with Gary Vaynerchuck to develop the project, which they hope will “broaden the experience of digital art and make its acquisition more accessible and transparent for the public.”

“When I became interested in NFTs I browsed a few platforms, but each time there was so much content it was hard for me to navigate through and find something I would respond to,” Schnabel says. ArtOfficial, like a gallery, will be a place buyers can find a curated selection of NFTs, chosen by Schnabel in the same way he chooses art for his gallery. “Quality over quantity”, Schnabel says.

The first auction, which opens today and runs through 4 October, will feature four unique NFTs created by the artist Francesco Clemente. One of the works,Milarepa’s Dream,comes with a live portrait session with the artist for a watercolour painting. Another Clemente work,Our Backs to The Sea Far From Our Native Lands, includes music by the composer Philip Glass—according to a press release each NFT auctioned will come with a live experience of some sort.

In the next few months, ArtOfficial will exhibit and auction NFTs for new works by Vito Schnabel Gallery artists Jordan Kerwick, Spencer Lewis, Robert Nava, Ariana Papademetropoulos, Julian Schnabel and Gus Van Sant,but the project is not solely for artists represented by Schnabel’s gallery. “It’s really an extension of the gallery and a new platform to show art,” Schnabel says, “I’m trying to find work that speaks to me, to bring new a flavour to that world and hopefully push the conversation, visually as well.”

Arts

https://www.theartnewspaper.com/news/a-new-flavour-of-non-fungible-token-vito-schnabel-launches-an-nft-auction-platform

Interesting NFTs
The Sleeper
The 3 small wanderers get a reminder of the cold and harsh reality of space. ..Yet this ancient explorer seems to be at peace, a smile on his face. What wonders did he see?
Tametomo and the inhabitants of Onoshima Island
Katsushika Hokusai (1760-1849) Tametomo and the inhabitants of Onoshima Island 1811 - Japan
Like a Human 1 #3/3
Creative Challenge - 0xCert Collaboration
The Scion
A young figure caught in a moment of distraction, aware only ephemerally of his unconscious being, as it engages in psychological and psychedelic layer spaces. His right arm casually cradles a moray eel; the figure is comfortable but not truly aware of the potentials for danger in such negligence. His shirt reads “Bello” in Pokemon style font, harkening back to a childhood straddling the millennial threshold. To his right side, out of the unconscious deep, shrouded alien heads propagate as a fractal totem, each new iteration a more sophisticated rendering of emotional masking over the cold mystery of the greys. As the scion of the Budgie-Sattva, the young man, in his distraction, is also simultaneously aware of higher levels of self discovery. To his left a psychological topology sets beneath the oracle side of an 8 ball ,hovering; its message a purest concept of acceptance. The “Scion” lettering is in 80’s HeMan style bold declaration. The lower right side of the painting is like a hybrid of melon, feathers, and seeds. The crystals in the background bring light; conducted, refracted, reflected, and dispersed, to balance the dark shadow of the figure’s physical body. The aura of the scion succeeds in layers to point, with a finger, and the crown chakra, toward a center of a mandala existing as nigh pure application of strokes, in essence painterly abstraction, but also revealing hints of the Aura of migraine, and the bi-hemispherical nature of the brain–noting concerns of the possibility of inherited mental disease. Yet the flourish of chakra as it sets against that center is robust, active, coherent, and reveling against all fear. Fundamentally, the piece speaks to the activation of one’s potential to begin to “Know Thyself”, and find greater awareness out of the enigmas of the mind–as an inculcated seed given to the rich soil of one’s own birthright.
Mars House
Mars House is the first NFT digital house in the world. Upon purchase of Mars House NFT, 3D files will be sent to the new owner by Krista Kim Studio Inc. for file upload to the owner’s Metaverse. Technical support for Mars House integration on Metaverse is provided. (Architectural Digest, March 14, 2021) “Kim ventured into NFTs while exploring meditative design during quarantine; her hope was to use the influx of digital life as an opportunity to promote wellbeing. Comprised entirely of light, the visual effects of her crypto-home are meant to omit a zen, healing atmosphere. The artist also partnered with musician Jeff Schroeder of The Smashing Pumpkins to create a calming musical accompaniment. So what makes the file a compelling purchase? Beyond the promise of buying into the lucrative NFT market, the home and all of the furniture in it can be built in real life by glass furniture-makers in Italy, as well as through MicroLED screen technology. Kim also has a strong visions the art being projected, as well. “Everyone should install an LED wall in their house for NFT art.” says the artist. “ This is the future, and Mars House demonstrates the beauty of that possibility.” The owner is in agreement to the following terms and conditions upon purchase of Mars House (hereby referred to as Mars House NFT): The collector agrees to own one copy of Mars House NFT on a single Metaverse platform. The collector is required to register Mars House NFT ownership with Krista Kim Studio Inc. Krista Kim Studio Inc. will provide technical support to upload and integrate Mars House NFT on a Metaverse platform. If/when Mars House is resold, the collector is required to delete all Mars House NFT 3D file(s) from his/her Metaverse, and provide verification of deletion to Krista Kim Studio Inc. before new 3D files are transferred to the new owner by the artist. The new owner is required to register Mars House NFT ownership with Krista Kim Studio Inc. Krista Kim Studio will send Mars House NFT 3D files directly to the new owner and provide support for Metaverse integration. This verified ownership transfer system will be appointed to Krista Kim Studio Inc. trusteeship, after 40 years of the date of the sale. Krista Kim Studio Inc. retains ownership of Mars House NFT copyright. All rights reserved. All reproductions of Mars House (NFT) in both digital and physical formats, are restricted. Mars House NFT physical furniture pieces, made of tempered printed glass in Italy, may be commissioned by the collector as NFT physical pieces.