The Belvedere Museum in Vienna, in collaboration with investment fund artèQ, has launched a non-fungible token (NFT) drop inspired by one of Austria’s painters Gustav Klimt’s most famous works, “Kiss”.
Released on Valentine’s Day, a digital copy of the early 20th century depiction of a pair of lovers was split into 100 x 100 grids of 10,000 individual pieces offered as NFTs.
As stated on the collection’s website, one NFT costs € 1,850 ($ 2,100), which is equivalent to Monday’s 0.65 Ethereum (ETH), and the nominal total amount of NFT paintings is € 18.5 million ($ 21 million). ). However, at the time of publication, it received only 33.3 ETH ($ 103,900) and more than 80% of the collection remained unsold.
The relatively low purchase rate of Belvedere’s “Declaration of Digital Love” NFT collection suggests that the price of each piece is too high or that NFT buyers are not very interested in traditional art at this point in the evolution of the market. It may be.
This painting has been kept in Belvedere since it was purchased for 25,000 crowns in 1908. That’s $ 240,000 today.
The issued NFT certificate revealed the digital part of the painting purchased and, if given to a loved one, included an individual dedication.
Happy Valentine’s Day #NFTCommunity!!
Today is a big day of lucky “kiss” #NFT Holders from all over the world!
Still looking for a last-minute Valentine’s gift?
Go to https://t.co/SjEFUSdKN4 and #NFT!!
—ArtèQ (@arteQio) February 14, 2022
Prior to the drop, Wolfgang Bergman, Managing Director of Belvedere, said in a statement:
“The fact that each piece has a very small share in the global market and each piece is unique makes these tokens very valuable.”
Artory Inc, a registry protected by the blockchain of artwork and collectibles. Nanne Dekking, founder and CEO of, spoke to Cointelegraph to reflect his emotions. He said such an initiative “allows us to completely rethink the sponsorship of art,” and “the museum is not limited to a small number of donors, but to work in the interests of a larger community.” It will be possible. “
Related: NFTs may indicate a resurgence of art galleries
In fact, tokenizing physical artwork is just one way museums can interact with and leverage the new community. The State Hermitage Museum in Russia has recently launched a completely digital exhibition in the restructuring of the museum’s Metaverse style, going beyond digital reproduction.
Decking added that art tokenization could “make the art market reach a wider community of art lovers” while at the same time offering royalty payments to museums.