Cryptoart.ai, the Asia's largest NFT digital art platform, has joined hands with Shanghai Jiahe Auction Co., Ltd.to exhibition two masterpieces of Infinite Net (1959, c1979) and Infinite Net (MGPP)
July 15, 2021 /MarketersMedia/ —
Since March this year, Beeple's "Everydays: The First 5000 days" set a record of the highest turnover of top 3 living artists in the world with $69 million at Christie's, the word "NFT" has become popular in the international art circle overnight, and then major galleries, art institutions and artists have hurried to get on the "express train" of "NFT art".
Cryptoart.ai, the Asia's largest NFT digital art platform, has joined hands with Shanghai Jiahe Auction Co., Ltd.to exhibition two masterpieces of Infinite Net (1959, c1979) and Infinite Net (MGPP), the most iconic series of Infinite Nets in Yayoi Kusama's artistic career，collected by Jiahe. They employed block chain encryption in the authentication and record data of entity artworks in the form of "NFT Empowering" entity artworks to start a new cooperation between NFT and entity artworks and real art market.
The authenticity identification of traditional art works has always been a major difficulty in the process of works circulation. Whether it is the traditional authentication method in China or the international authentication method, its core is centralized authentication mode without exception. "Centralized recognition" depends on people, and the corresponding recognition is often based on the following process: Analysis of work style - Analysis of signatures - Analysis of historical materials (sources, authoritative documents, exhibition catalogues, past transaction records, etc.) - Technical Analysis and test reports, etc. As time goes by, the most easily lost part of a work is its accompanying historical documents, which is the key to doubt for many works. However, the emergence of "blockchain erc721 protocol" can change the way of recording and retaining historical documents in the traditional art appraisal process through blockchain encryption technology. Thus, it sets off an innovation in the field of art authenticity identification.
Infinite Nets, as the most iconic series of Yayoi Kusama’s early creation, not only established her position in the western art world, but also represented the most difficult and historic moment of her life.
In 1957, after breaking up with his mother at the age of 28, Kusama went to Seattle alone and held a solo exhibition at Zoe Dusanne (1884-1972) Gallery. A year later, she moved to New York and began her creation of Infinite Nets, and she met Donald Judd at that time. As a lifelong friend, Donald Judd not only highly admired Kusama’s creative talent, but also was the first person to appreciate the Infinite Nets series. He also helped Kusama, who had just arrived in New York, make many creative attempts.
In 1959, Infinite Nets were first exhibited in the Brata Gallery New York, which caused a great sensation in the industry. The price of a single work was as high as nearly $200, which was the skyhigh price at that time. So much so that the New York Times commented on the work as "having amazing power" and "confusing." Today people see the Infinite Net (1959 c.1979), which was created in 1959. Originally, she gave the work from the most important period of her life to her good friend Yuko Taguchi, which can be seen that this good friend has great significance for Kusama. However, it is a pity that for some reasons, Kusama lost contact with her friend. This work was kept in her studio until 1979, 20 years later，when it was really completed. The certificate was produced by Yayoi Kusama studio and included in the collection with the number of NO.0271
Today, when this work and the story behind it reappear in the public view, together with another work, Infinite Net (MGPP), all the authentication materials of them, including circulation records, exhibition materials, publication catalogues and certificates, are encrypted in the form of "NFT + art", which is cast into a complete NFT and stored in the blockchain. This practice undoubtedly has epoch-making significance. By "NFT empowering", these rich authentication information and image data are permanently stored in the IPFs distributed server node in the form of distributed storage. This is the first example of NFT empowering entity artwork in the world. NFT will also be handed over to the new collectors after the transaction, and recorded and confirmed in each subsequent circulation.
To highlight the special significance of this practice, Shanghai Jiahe Auction Co., Ltd. is planning a special show: A Thought in Eternity: Infinity Nets-Yayoi Kusama’s Original Artworks and NFTs. The combination of the two works into an integrated subject for auction is a very innovative attempt, no matter for the current secondary market, or NFT art market. On this occasion, CryptoArt.Ai x Shanghai Jiahe Auction Co., Ltd. will hold a special press conference on July 15 at the Shanghai Himalayan Art Museum to witness this moment. On the very day, various guests and scholars from different fields in the industry will be invited to discuss “cooperation" or "creation" between entity art and NFT technology through an open round table seminar with the theme of "Mutual Understanding of the Value of Cryptoart".
Related activities and the follow-up auction will be held on July 23. Please look forward to it together.
Release ID: 89035904