A Swiss bank makes it possible to co-own a Pablo Picasso’s work worth millions for less than 5,000 euros. Blockchain technology makes it possible to track who owns which part of the board. First, says the bank.
The bright yellow, blue, and red painting was painted by Picasso in 1964. It sold at auction in 2016 for around 2 million euros. Now it is again sold in parts for a total of 3.7 million euros. The minimum investment is 4600 euros.
The work will never be hung on an owner’s wall: it will hide in a very safe pantry, the bank guarantees. It is not the intention that the owners come to see it there. However, it will be made available for exhibitions in the future.
This isn’t the first time Picasso has encountered blockchain technology: in June, art lovers or investors could buy a stake in a burning artwork by the Spanish painter.
Before Burnt Picasso An art drawing was destroyed, after which the NFTs were sold. These are digital titles to business or virtual ideas.
Here’s exactly how NFTs work:
“Coffee fanatic. Friendly zombie aficionado. Devoted pop culture practitioner. Evil travel advocate. Typical organizer.”