The .ART Weekly Art Market Recap: Andy Warhol NFTs, Gucci, and More
If you want to stay clued in, but don't have the time to trawl through endless content, you've come to the right place. Every week, we give you a quick update on this week's hottest art headlines.
Image above: Andy Warhol, Untitled (Self-Portrait) (ca. 1985k, minted as an NFT in 2021). ©The Andy Warhol Foundation.
1. NFT Art Residency To Launch In The French Riviera This June
Set amidst the captivating gardens of the Grand-Hotel du Cap-Ferrat on the French Riviera, an exciting new initiative called Present the Future will welcome artists, collectors and art enthusiasts from all over the globe to witness the world’s first NFT-focused art residency. The collective is composed of the visionary French-Iranian artist Sassan Behnam-Bakhtiar, Tinie Tempah, the British singer, composer and entrepreneur, the eminent collector and curator Kamiar Maleki, director of the VOLTA Art Fairs in Basel, New York and Miami who is curating this first-of-its-kind initiative, and British digital artist Vector Meldrew.
2. ‘Andy Warhol: Machine Made’ NFT Collection Raises $3.38M USD at Christie’s Sale
Following the recent auction of CryptoPunks NFT Portraits, Christie’s links up with The Andy Warhol Foundation for another monumental sale of five unique NFTs from the ‘Andy Warhol: Machine Made’ collection that garnered a total of $3,377,500 USD. Andy Warhol not only dominated the physical art world but is now riding the digital wave. The Andy Warhol Foundation minted five distinct NFTs from restored and preserved files of his 1985 artworks, such as the “Amiga”, which were restored from floppy disks in 2014. No other NFTs will be minted from these files. Net proceeds will be used to support the annual funding of The Andy Warhol Museum as well as the foundation’s efforts in supporting artists throughout America.
3. Gucci Launches First NFT
Italian luxury house Gucci is stepping into the world of digital art with its debut NFT, proving once again that the brand is all-in on digital. Gucci is offering up its first NFT, a film inspired by its recent Aria collection, as a part of a newly-unveiled auction at Christie’s. The sale, titled PROOF OF SOVEREIGNTY: A Curated NFT Sale by Lady PheOnix is an NFT-specific auction that features a single work from Gucci. The NFT fashion film is co-directed by the house’s creative director, Alessandro Michele, and award-winning photographer and director Floria Sigismondi. The film expands Gucci’s Aria celebration, incorporating Michele’s recent runway presentation in a four-minute video clip.
4. Elon Musk Put Out a Call on Twitter for Graffiti Art for His New Tesla Factory
On Wednesday, the Tesla CEO put out a call on his Twitter asking for street artists to submit design proposals for Giga Berlin, the company’s massive new mega-factory in the famous German city. Giga Berlin, which has finally been completed after being worked on for 10 months, has been constructed so that Tesla can roll out its Model Y vehicle in Europe.
5. Mr Doodle’s Dedicated Auction in Hong Kong Nets Over US$730,000, Everything Sold
The millennial scribbler artist is at it again. His dedicated sale at Christie’s Hong Kong, “Mr. Doodle: Caravan Chaos,” was 100 percent sold. The sale saw panels removed from a camper van that were covered with Mr. Doodle’s, erm, doodles. All 27 lots found buyers, mostly above their presale estimates, for a total of HK$5.7 million ($730,264). The sale was fueled by online bidders from Taiwan, Hong Kong, and Singapore.
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