Valuart to Auction NFT Derived From Banksy’s Iconic ‘Spike’

July 7, 2021 – Valuart, a startup that mints licensed NFTs derived from original artworks, has announced its first drop. ‘Spike,’ based on the Banksy work of the same name, will be auctioned as a 1:1 NFT with 50% of the proceeds going to charity.

The original piece was created by infamous street artist Banksy in Palestine and is now in the possession of Vittorio Grigòlo. The world famous tenor and Valuart co-founder has elected to auction a digital original version of the Banksy work, created as a CGI artwork. In the NFT version, Spike is seen floating across the universe until it is eventually returned to its rightful place on earth, to emerge as a newly minted non-fungible token.

Valuart intends to reimagine some of the most famous artworks ever created, breathing new life into a classic medium and giving today’s collectors a chance to acquire a piece of creative history. The company has onboarded leading artists, institutions and celebrities for this purpose.

After certifying the authenticity of a given artwork on the blockchain in collaboration with the owner of the physical asset, Valuart creates a Digital Original (a perfect digital “clone”) and contextualizes it into unique stories through market-leading content creation. In doing so, it aims to foster a new standard for the NFT art market. 

“I’m thrilled to participate in this project and use my voice to create a magical atmosphere for the rebirth of this extraordinary piece of art I discovered more than a decade ago,” said Vittorio Grigòlo. “I cannot wait to share this amazing creation with the public.”

50% of the revenues deriving from the auction of the ‘Spike’ NFT drop will be dedicated to supporting those suffering from conflicts throughout the world. 

About Valuart

Valuart was founded by crypto enthusiasts Etan Genini, Vittorio Grigòlo, and Michele Fiscalini with the goal of helping artists realize the true value of their work. Valuart connects art collectors with creators, unlocking new opportunities for monetization through the medium of NFTs. By tokenizing classic artworks, Valuart is bringing the art world into the 21st century.

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