New Banksy Print

General art-related discussion.
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brewdog123
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Fri Dec 03, 2021 11:12 am

ok, so i guess i misunderstood. i just think it is just bizarre. Raise $15 million (for something he paid $13 million?) and sell off 10k interests of the painting itself. Does this original person that listed the pieces get to hang and enjoy the work and is there is any possibility for future resale?
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acidburn
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Fri Dec 03, 2021 11:21 am

I mean ppl do raffles for $5 lotto entry/50 spots for a $150 print. That’s the business behind it.

When multi billion dollar properties go up, you think it’s only one guy? It’s hundreds of different groups made up of all different investors that are organized by one place and they take money off the top.

If the price increases and they sell the piece eventually, your share value increases. I’m not too much into fractionalizing things but it’s popular. Probably a better market too then Masterworks
Last edited by acidburn on Fri Dec 03, 2021 11:26 am, edited 3 times in total.
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partpat
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Fri Dec 03, 2021 11:22 am

It’s a nonsense world ! Wild stuff.
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brewdog123
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Fri Dec 03, 2021 11:32 am

with those raffles there is a clear winner that takes home the prize, all of the physical prize....not sure it is the same. but whatever, this does not appeal to me
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Codeblue
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Fri Dec 03, 2021 12:11 pm

I member hearing a commercial for masterworks and hard eye rolling. They’re obviously making some serious coin tho.
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bubbie
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Fri Dec 03, 2021 12:36 pm

acidburn wrote:
Fri Dec 03, 2021 9:47 am
I know you’re shitting on it because the word NFT triggers a lot of you
Lol.

Trust me, I couldn’t care less how one spends their money.

acidburn wrote:
Fri Dec 03, 2021 11:21 am
I mean ppl do raffles for $5 lotto entry/50 spots for a $150 print. That’s the business behind it.
That’s not what is happening here, obviously.

acidburn wrote:
Fri Dec 03, 2021 11:21 am
If the price increases and they sell the piece eventually, your share value increases.
Except:

Every work acquired by Particle will be immediately integrated into the Particle Foundation’s permanent collection on behalf of the community, thus ensuring the physical works will never be sold.

Furthermore:

Before the invention of museums, private ownership was one of the few ways to enjoy fine art. But even museums are limited by the demands of the physical world: you need to be in the artworks’ physical presence to access it.

Yet,

Particle is pioneering a new application of NFTs that will free major artworks from the historical limits on their accessibility.

They aren’t “pioneering” anything. Nothing has changed in terms of one’s ability to “enjoy fine art”. You still need to be physically present. All that is happening here is you are taking a double risk “investing” in a piece of art by buying some crypto tokens, value of which is limited by the perceived value of the particular physical piece of art you invest in.

They aren’t even “pioneering” the ownership deal, as you yourself mentioned.

A lot of what they are saying is not true and the rest is yet to be seen how it pans out. But “invest” and “own” away. No triggers here, Joe.

brewdog123 wrote:
Fri Dec 03, 2021 11:32 am
with those raffles there is a clear winner that takes home the prize, all of the physical prize....not sure it is the same. but whatever, this does not appeal to me
There are winners here and it’s these guys:

Particle was founded by a team of leading figures and innovators in the worlds of art, blockchain, and technology.
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Kdh12
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Fri Dec 03, 2021 12:46 pm

brewdog123 wrote:
Fri Dec 03, 2021 9:56 am
destroying physical art work is absolutely ridiculous on every level
then this will make you cry

https://news.artnet.com/art-world/damie ... cy-1988535
mmmm Beer :pint:
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acidburn
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Fri Dec 03, 2021 12:52 pm

bubbie wrote:
Fri Dec 03, 2021 12:36 pm
acidburn wrote:
Fri Dec 03, 2021 9:47 am
I know you’re shitting on it because the word NFT triggers a lot of you
Lol.

Trust me, I couldn’t care less how one spends their money.

acidburn wrote:
Fri Dec 03, 2021 11:21 am
I mean ppl do raffles for $5 lotto entry/50 spots for a $150 print. That’s the business behind it.
That’s not what is happening here, obviously.

acidburn wrote:
Fri Dec 03, 2021 11:21 am
If the price increases and they sell the piece eventually, your share value increases.
Except:

Every work acquired by Particle will be immediately integrated into the Particle Foundation’s permanent collection on behalf of the community, thus ensuring the physical works will never be sold.

Furthermore:

Before the invention of museums, private ownership was one of the few ways to enjoy fine art. But even museums are limited by the demands of the physical world: you need to be in the artworks’ physical presence to access it.

Yet,

Particle is pioneering a new application of NFTs that will free major artworks from the historical limits on their accessibility.

They aren’t “pioneering” anything. Nothing has changed in terms of one’s ability to “enjoy fine art”. You still need to be physically present. All that is happening here is you are taking a double risk “investing” in a piece of art by buying some crypto tokens, value of which is limited by the perceived value of the particular physical piece of art you invest in.

They aren’t even “pioneering” the ownership deal, as you yourself mentioned.

A lot of what they are saying is not true and the rest is yet to be seen how it pans out. But “invest” and “own” away. No triggers here, Joe.

brewdog123 wrote:
Fri Dec 03, 2021 11:32 am
with those raffles there is a clear winner that takes home the prize, all of the physical prize....not sure it is the same. but whatever, this does not appeal to me
There are winners here and it’s these guys:

Particle was founded by a team of leading figures and innovators in the worlds of art, blockchain, and technology.
Went to another article because its nowhere on their site. This is how ppl make money from it.

How does it work?

Particle divides each piece of art into 10,000 unique NFTs or "Particles," each with its own title deed stored on the Blockchain. Particles are randomly assigned during the primary drop. Once a buyer purchases a Particle, they receive a digital certificate, or collector’s card, which represents its owner’s specific ownership in the painting. Purchasers then have the right to buy and sell their particle on secondary markets, trade or transfer them to anyone they wish. They’ll have the opportunity to see the painting whenever and wherever it’s displayed, and the right to call the painting partly theirs.

This btw does not appeal to me either.
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fredo
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Fri Dec 03, 2021 12:55 pm

bubbie wrote:
Fri Dec 03, 2021 12:36 pm
Particle was founded by a team of leading figures and innovators in the worlds of art, blockchain, and technology.
Top. Men.

There is no mention of shares. Sounds like if they upsold the physical work for say 20 mil you wouldn’t be entitled to any of those profits. Though a lawsuit or 10,000 might sort it out.
just a foil for me today, thanks
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acidburn
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Fri Dec 03, 2021 12:57 pm

At least Masterworks sells the pieces

Image

So Particle cuts out that selling part and just does the secondary market.
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35mmpaul
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Fri Dec 03, 2021 12:59 pm

bubbie wrote:
Fri Dec 03, 2021 12:36 pm

They aren’t “pioneering” anything. Nothing has changed in terms of one’s ability to “enjoy fine art”. You still need to be physically present. All that is happening here is you are taking a double risk “investing” in a piece of art by buying some crypto tokens, value of which is limited by the perceived value of the particular physical piece of art you invest in.

They aren’t even “pioneering” the ownership deal, as you yourself mentioned.
well thats the thing with the NFT markets, its all perception.

Yes all art markets work on perception as a yardstick for value. perception of the artist, the image, or the release, whatever it may be.

But while collecting art is more based in the acquiring of physical goods.

The importance with NFTs is placed on the perception of ownership rather than the actual owning of a thing.

Its a market demanding viability, because their value is in perception and buying into the notion that you 'own' a digital asset because some other digital system proves that you do.

And that is enough for some people i guess.
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fredo
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Fri Dec 03, 2021 1:11 pm

It’s like Ticketmaster without the concerts
just a foil for me today, thanks
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MaxCollinsII
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Fri Dec 03, 2021 2:40 pm

fredo wrote:
Fri Dec 03, 2021 1:11 pm
It’s like Ticketmaster without the concerts
:clap:
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BENYOUNG20
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Fri Dec 03, 2021 3:17 pm

Man if all the people triggered by NFTs could just stay in one grumpy channel instead of spreading it in every single topic it would be great.
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fredo
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Fri Dec 03, 2021 3:56 pm

Can we join yours?
just a foil for me today, thanks
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