Original Physical Artwork by Banksy Goes on Auction as an NFT

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A moment many have been waiting for – the work of world-renowned artist Banksy, has been digitalized and is entering into the NFT space. The artist’s 2006 piece ‘Warning Sign’ has been reimagined as an NFT and is currently up for auction.

Titled ‘Banksy Warning Sign’, the NFT is being auctioned on OpenSea until Sunday 12th December at 16:00 EST. The winner will receive ownership of the NFT, which pays homage to the events of 9/11 through the modification of a roads diverging traffic sign. The holder of the NFT will also own a 5% stake in the original, physical artwork, which has been independently valued at between $2,000,000 and $3,000,000 USD.

The initiative to bring the work of Banksy into the digital realm was undertaken by media and arts company Gloss, the current owners of Banksy’s ‘Warning Sign.’ The high-value art owners believe that the digitalization of Banksy’s work will bridge the gap between the real and digital art worlds for the very first time, and that the inclusion of a 5% equity share in the original piece solidifies the NFT’s value and drives seismic change across both platforms of art.

A percentage of the proceeds from the NFT sale will also be donated to the Fire Department New York Foundation, an organization which supports the New York firefighters who were the first responders on September 11th, 2001.

Find out more >> Here

Source: https://nftplazas.com/physical-artwork-by-banksy-nft-auction/

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