BluChip launches an innovative NFT marketplace in a unique way
PALM SPRINGS, Calif., May 16, 2022 (GLOBE NEWSWIRE) — BluChip today introduced its unique platform for purchasing non-fungible tokens (NFTs) that are attached to an original art painting or sculpture. With this capability, NFTs now have real physical value specific to world-class works of art, making them more valuable than ever, while making the NFT market an attractive option for serious art collectors, savvy investors and traders. This innovative BluChip NFT Marketplace gives art collectors, cryptocurrency investors, digital asset speculators and others access to valuable NFT assets that can be uniquely traded at any time for the actual work of art that the NFT represents – all via a powerful and immutable smart contract on the blockchain.
Auctions for various BluChip NFTs will take place at https://bluchipnft.co effective May 23, 2022. BluChip’s unique smart contract technology allows bidders to bid on tradable NFTs that only the winning bidder can redeem to own a highly valued and highly sought-after masterpiece. With a digital token that links BluChip’s NFTs to the authentic artwork, the NFT can simply be redeemed to receive the true museum-quality masterpiece. However, unlike a traditional art sale, there is no need to have a place to move one’s masterpiece until one is ready to exchange their BluChip NFT for the artwork. ‘art.
Notably, the BluChip NFT Marketplace showcases some of the most exciting collectible artists, where their works are rarely purchased. The presence of names such as Andy Warhol, Keith Haring and Banksy are sure to attract the attention of art lovers, and many are expected to be first-time NFT shoppers. time.
Here are some examples of the many high-value NFTs that are available at auction, including their bid estimates.
Andy Warhol / Robert Longo – Four serigraphs…………..$100,000.00
Keith Haring – Three Subway Drawings…………………………….. EA$150,000.00
STIK – Love 143………………………………………….. …. …………………..$200,000.00
Joan Mitchell – Untitled Pastel ……………………………………. ……… $150,000.00
Bill Traylor – The Rabbit Hunt……………………………………….. … ………$350,000.00
Gertrude Abercrombie – Lunar Gates…………………………….$450,000.00
Joan Miro – Dedication piece………………………………………….. …… $200,000.00
Franz Kline – Collage (Two)……………………………………. ……. …….$250,000.00 EA
Rammellzee – Robot of the future ……………………………………… ….. …….$150,000.00
Note: Opening bids are always 55% of the estimated auction prices.
Coming soon… Other masterpieces from:
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 onto the scene as the latest investment-grade digital asset. As many forms of intellectual property migrate to blockchain, the benefits can be endless. 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 market ownership, trading, and monitoring will allow marketplaces to thrive without the need for intermediaries, counterparty risk, or the costs associated with traditional intellectual property management.
The NFT art market has proven to be an exceptional part of the digital asset market. The biggest challenge so far has been linking digital blockchain assets to physical assets. There is simply no way to put physical paint on the blockchain. Enter the new era of tradable BluChip NFTs, which provide a token that holds a unique claim on a physical asset in exchange for the digital asset. Cryptographically strengthened, these exchangeable BluChip NFTs hold exclusive claim to museum-quality BluChip artwork.
A concept of double-entry accounting is created, in which the digital asset and the physical asset can each hold a unique value in the market. These two assets – one digital, one physical – are inextricably linked through Solana, which is a decentralized blockchain that tracks digital assets with Smart Contract governance and provable ownership. The buyer of exclusive BluChip NFTs will own the exclusive rights to control the original artwork and to speculate in the digital asset token representing that artwork. The owner of a BluChip NFT controls which side of the transaction suits him best; the digital token or physical artwork as it is tradable without counterparty risk.
This innovation solves a major problem that has hindered 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 offer a unique opportunity to acquire assets that connect with highly sought-after BluChip works of art rarely held outside of museums. By providing the BluChip art market with tradable BluChip NFTs connected to real BluChip artworks, the demand and liquidity for BluChip art will increase and become more efficient in finding the most powerful players in the market.
The History of Tradable NFTs
G. Thomas Kerr is the President of ArtCoins International and the visionary behind its new BluChip division of tradable NFTs. Kerr has been in the cryptocurrency market and has a deep appreciation for the arts, but also has a background in finance and technology.
“I was interested in finding a way to bridge the two asset classes: fine art and digital assets, the tradable NFT does exactly that by allowing the market to decide value and providing better price discovery for each asset class,” Kerr noted in his presentation to speakers. As such, ArtCoins International has partnered with the Museum of Modern Art to auction over 100 great masterpieces, including masterpieces by Banksy, Basquiat, Rothko and Haring to be struck in as tradable NFTs – all selected works from his exclusive private museum collection.
This proven history of art acquisitions and high-end art sales led Kerr to consider the role of the latest technologies in creating a new generation of art lovers. “With so many people already interested in NFTs, it just made sense to tie digital masterpieces to their physical origins,” Kerr added. “BluChip’s goal is to make real fine art more accessible, and tradable NFTs should become an important part of this new digital art renaissance.”
Unique digital assets
Another added value of NFTs is their level of exclusivity. Some artists will create a limited edition series containing multiple versions of the same thing. But for the most part, NFTs aren’t duplicated, which really boosts 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, only a digital asset is provided, along with ownership of it, but that doesn’t stop anyone else in the world from copying and sharing it.
One of the biggest benefits is having a digital token that can be redeemed for a true one-of-a-kind piece of art. The fine art value of your BluChip NFT is not tied to the blockchain or Solana cryptocurrency, so even if your digital art were to lose market demand, the digital token can be redeemed for BluChip’s wallet to redeem the actual physical artwork. Therefore, if one buys 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 market, you get the artwork of authentic art to preserve.
Here, two auctions are already scheduled to include Banksy’s very rare original stenciled masterpieces. His career has captivated people all over the world. The recent auction of the “Shredded Banksy” exceeded $25 million at Sotheby’s. His work has shown appreciable value over the years, and there is no sign of this trend stopping. This therefore makes BluChip NFTs a smart investment for art collectors. After all, there will be no other way to buy an original Banksy of Mighty Mouse or Wicked Trumpet Player.
BluChip’s website will launch on May 16, 2022 and can be accessed at www.BluChipNFT.co. BluChip plans to be the world’s first website for NFT purchase of digital token-backed masterpieces.
To take advantage of the opportunity to win an NFT at the museum-quality art auction, be sure to visit the BluChip 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 them!
BluChip’s unique platform allows people to purchase NFTs that are attached 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, simply redeem it to receive a masterpiece. Even better, this program makes sure you can choose which side of the deal you want to be on. Start collecting art today using BluChip’s NFT Marketplace website! Bid to win the fine art you will always love to own.
Clemens & Co.
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