May 16, 2022 09:00 ET | Source: BluChip BluChip
PALM SPRINGS, Calif., May 16, 2022 (GLOBE NEWSWIRE) — BluChip today introduced its unique platform enabling the purchase of non-fungible tokens (NFTs) that are tethered to an original fine art painting or sculpture. With this ability, NFTs now have actual physical value specific to world-class artwork, making them more valuable than ever, while elevating the NFT marketplace as an attractive option for serious art collectors, investors and savvy traders. This innovative BluChip NFT Marketplace allows art collectors, cryptocurrency investors, digital asset speculators and others to access valuable NFT assets that can uniquely be swapped at any time for the actual artwork the NFT represents — all via a powerful, immutable Smart Contract on the blockchain.
Auctions for various BluChip NFTs will take place at https://bluchipnft.co beginning on May 23, 2022. BluChip’s unique Smart Contract technology enables bidders to bid on swappable NFTs that only the winning bidder can exchange to own a highly valuable, very sought-after masterpiece. With a digital token that ties BluChip’s NFTs to the genuine artwork, the NFT can simply be swapped out to receive the actual real-life museum-quality masterwork. However, unlike a traditional art sale, one does not need to have a place to relocate their masterpiece until one is ready to swap their BluChip NFT for the fine art.
Notably, the BluChip NFT Marketplace features some of the most exciting collectible artists, in which their artwork is rarely found for purchase. The presence of names such as Andy Warhol, Keith Haring and Banksy are certain to capture the attention of art aficionados, and it’s expected that many of them will be first-time NFT buyers.
Following are just a few examples of the many high-dollar-value NFTs that are available for auction, including their auction estimates.
First Auction:
Andy Warhol / Robert Longo – Four Serigraphs……………$100,000.00
Keith Haring – Three Subway Drawings………………………..$150,000.00 EA
STIK – Love 143…………………………………………………………….$200,000.00
Second Auction:
Joan Mitchell – Untitled pastel………………………………………$150,000.00
Bill Traylor – Rabbit Hunt………………………………………………$350,000.00
Gertrude Abercrombie – Moon Doors…………………………..$450,000.00
Third Auction:
Joan Miro – Dedication piece……………………………………….$200,000.00
Franz Kline – Collage (Two)…………………………………………..$250,000.00 EA
Rammellzee – Future Bot……………………………………………..$150,000.00
Note: Opening bids are always 55% of the auction estimate prices.
Coming Soon … Other Masterworks by:
Banksy, King Robbo, Invader, Blek Le Rat, Pavel Pukhov, Basquiat, Mark Rothko, David Park, Elmer Bischoff, and Richard Diebenkorn.
The NFT art market has recently exploded on the scene as the latest, investment-grade digital asset. As many forms of intellectual property migrate to the blockchain, the benefits can be innumerable. These one-of-a-kind digital assets can exist with proven scarcity, ownership and smart contract intelligence. Parasitic extractions along the value chain are eliminated. Instead, direct-to-market ownership, trading and tracking will enable marketplaces to flourish without needing any intermediaries, counterparty risk or the costs associated with having traditional IP management.
The NFT art market has proven to be an outstanding part of the digital asset marketplace. The single biggest challenge thus far has been bridging digital blockchain assets with physical assets. There is just no way to actually put a physical painting on the blockchain. Enter the new era of swappable BluChip NFTs, which provide a token that holds a unique claim on a physical asset in exchange for the digital asset. Cryptographically enforced, these swappable BluChip NFTs hold exclusive claim to actual museum-quality BluChip artwork.
A double entry accounting concept is created, whereby the digital asset and physical asset each can hold a unique value to the market. These two assets – one digital, one physical – are inextricably linked via Solana, which is a decentralized blockchain that tracks digital assets with Smart Contract governance and provable ownership. The buyer of exclusive BluChip NFTs will hold the exclusive rights to control the original artwork and speculate on the digital asset token representing that artwork. The owner of a BluChip NFT controls which side of the transaction suits them best; the digital token or the physical artwork because it is swappable without counterparty risk.
This innovation solves a major issue that has impeded the adoption of NFTs for many qualified investors, collectors and financially savvy traders. By bridging this gap between two established asset classes, BluChip NFT auctions brings a unique opportunity to acquire assets that connect with highly sought-after BluChip artwork rarely owned outside of museums. By providing the BluChip art market with swappable BluChip NFTs connected to genuine pieces of BluChip artworks, the demand and liquidity for BluChip art will increase and gain efficiency to find the strongest stakeholders in the market.
The History of Swappable NFTs
G. Thomas Kerr is the president of ArtCoins International, and the visionary behind its new BluChip division of swappable NFTs. Kerr has been in the cryptocurrency market and has a deep appreciation for the arts, but also has a finance and tech background.
“I was interested in finding a way to link the two asset classes together: fine art and digital assets, the swappable NFT does just that by enabling the marketplace to decide value and provide better price discovery for each asset class,” Kerr noted in his presentation to stakeholders. As such, ArtCoins International has partnered with the Musee d’ Art Moderne to auction over 100 great Masterworks, including masterpieces by Banksy, Basquiat, Rothko, and Haring to mint as swappable NFTs — all select works from its exclusive private museum collection.
This proven history of art acquisitions and high-end fine art sales led Kerr to consider the latest technology’s role in helping to create a new generation of art fans. “With so many people that have already gotten interested in NFTs, it simply made sense to tie digital masterpieces to their physical origins,” added Kerr. “BluChip’s goal is to make real-life fine art more accessible, and swappable NFTs are expected to become a big piece this new digital art renaissance.”
One-of-a-Kind Digital Assets
Another value-add of NFTs is their level of exclusivity. Some artists will create a limited-edition series that contains multiple versions of the same thing. But for the most part, NFTs aren’t duplicated, which really drives up consumer interest in buying them. However, some people have been hesitant to use their cryptocurrency on products that have no physical representation. When traditional NFTs are purchased, a digital asset only is provided, with ownership over it, but that doesn’t stop anyone else in the world from copying it and sharing it.
One of the biggest advantages is having a digital token that can be exchanged for a real, one-of-a-kind piece of art. Your BluChip NFT’s value of the fine art isn’t attached to the Solana blockchain or cryptocurrency, so even if your digital art were to lose market demand, the digital token can be traded back to BluChip’s wallet to redeem the actual physical piece of art. Therefore, if one purchased Banksy’s Mighty Mouse, possession of the physical piece can be taken at any time, which protects your investment no matter what happens in the NFT digital marketplace, you get the genuine artwork to keep.
Here, two auctions are already planned to include very rare original stencil masterworks by Bansky. His career has captivated people worldwide. Recent auction sale of the “Shredded Banksy” exceeded $25 million at Sotheby’s. His artwork has shown an appreciable value over the years, and there is no sign of this trend stopping. Hence, this makes BluChip NFTs a smart investment for art collectors. After all, there will be no other way to purchase an original Banksy of Mighty Mouse or Wicked Trumpet Player.
About BluChip
BluChip’s website will launch on May 16, 2022, and can be accessed at www.BluChipNFT.co. BluChip plans to be the world’s foremost website for purchasing NFTs of masterworks that are backed by a digital token.
To take advantage of the opportunity to win an auctioned NFT of museum quality artwork, be sure to visit BluChip’s website during the first few days. Some of the many pieces that will be included in their initial offerings include Warhol, Haring and Stik, so don’t miss it!
BluChip’s unique platform enables people to purchase NFTs that are tethered to the original painting or sculpture. In fact, if you decide that the actual artwork would be more useful to you than the non-fungible token, you simply have to swap it in to receive a masterpiece. Even better, this program makes certain that you can choose which side of the deal you want to be on. Start collecting art today by using BluChip’s NFT Marketplace website! Bid to win the fine art you will always love to own.
Media contact:
Chris Clemens
Clemens & Co.
Chris@clemenspr.com
(760) 578-8700
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