Picasso’s Great-Grandson Struggles To Sell His NFTs

https://www.cryptologi.st/news/picassos-greatgrandson-struggles-to-sell-his-nfts
  • Florian, Pablo Picasso’s great-grandson, recently dropped an NFT collection inspired by the late Spanish master Picasso.
  • Most of these NFTs remain unsold after a family dispute forced Florian to clarify these NFTs are not official Pablo Picasso NFTs.

Who Is Florian Picasso And What Is His Plan?

Florian is a DJ and music producer. In January 2022, Florian and Marina Picasso, his mother, announced they’re planning to release a total of 1,011 NFTs based on a never-before-seen painted ceramic bowl created in 1958 by Pablo Picasso. “We’re trying to build a bridge between the NFT world and the fine art world,” Florian told The Associated Press in January.

Pablo Picasso Has Got NFTs?

Pablo Picasso’s NFTs might sound like a sure thing to some NFT collectors. Since it is Picasso, it’s not surprising to hear his works has turned into NFTs. However, the recent announcement of the NFT drop led to a family conflict over the use of Picasso’s name, and Florian, Picasso’s great-grandson, had to clarify they weren’t official Pablo Picasso NFTs. Because of the announcement, these Ethereum NFTs inspired by the cubism art style initiative aren’t selling.

The Picasso Administration Did Not Like The Idea!

The Picasso Administration, which oversees the use of the name Picasso and Picasso assets still held by descendants, disagreed with the release of NFTs of Picasso’s ceramic bowl. The administration issued statements and clarified that the NFTs are not official Pablo Picasso works. According to The Picasso Administration, Florian’s NFTs would be “his own creation, independent of any claim vis-a-vis Pablo Picasso and his works.

Florian Picasso’s NFT Project

Florian continued the process as “Man and the Beat”, which was rebranded as his own work, according to a report from Artnet. A single-edition piece was sold for $41,500 via Nifty Gateway last week and came with an original piece of Pablo Picasso pottery. Meanwhile, ten additional NFTs sold on the same marketplace for amounts ranging from $4,000 to $5,655 each. These NFTs had no pottery included. Both NFT drops carry the following disclaimer: “The NFT is the personal creation of Marina and Florian Picasso, and they are not related to Pablo Picasso, his name, and his work.”

Florian’s NFTs On Origin Protocol Marketplace

Florian has also released 1,000 additional Ethereum NFTs inspired by his great grandfather’s work on the Origin Protocol marketplace for 2 ETH ($6,011) per piece, but on 9 Feb 2022), only about 100 of those on Origin Protocol, which are spread across five editions, had sold since February 1.

What Is An NFT, Anyway?

NFT, which stands for “Non-Fungible Token”, is a proof of ownership of unique physical or digital items, like real estate, works of art, videos, or music sold online. NFT is a unique token that can be considered a modern-day collectable. NFTs are securely recorded on a blockchain — the same technology behind cryptocurrencies — ensuring the asset is one-of-a-kind. Blockchain technology can make it difficult to counterfeit NFTs or alter them. The market swelled to $25 billion in trading volume in 2021, which indicates a flood of brands and high-profile creators are joining the space.

Florian Picasso’s Music In NFT Collections

The NFTs on Nifty Gateway features an audio file from a new song called “Tomorrow” by Florian Picasso featuring singer John Legend and rapper Nas. Both of the said artists have been present in the NFT space, and Nas mentions Pablo Picasso by name in the song’s lyrics. However, the Origin Protocol NFTs only include the backing track from the song with no vocals.

Outro

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Source: https://www.cryptologi.st/news/picassos-greatgrandson-struggles-to-sell-his-nfts

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