Art-tech project 10101.art launches in Dubai selling art by Banksy, Warhol, Picasso, Dali and other renowned artists through blockchain and to co-owners. The platform promotes collective ownership through art tokenization, and it is the latest and most progressive way to own Art.
The concept behind the 10101.art project started from a simple premise; how can individuals and art enthusiasts own art by renowned artists like Banksy, Andy Warhol, Pablo Picasso, and Salvador Dali? How can such unique pieces be made accessible in 2024? The project was born to answer these questions, and the answer is; through co-ownership and art tokenization.
Alina Krot, CEO of 10101.art project, has the arduous task of breaking down these processes, which she has undertaken in a series of events, including the Blockchain Life 2024 international forum in Dubai, and the 10101.art private networking event at the Ritz Carlton in DIFC, Dubai.
By working with art experts and art dealers, the platform sells artworks from private collectors and auction houses to their clients. The ownership over those artworks is verified on blockchain and customers also receive a physical certificate of ownership upon purchase. The platform provides collective ownership, so that many buyers can own one or many pieces of the artwork.
The platform promotes collective ownership through art tokenization, and it is the latest and most progressive way to own Art.
The ownership comes with many benefits as well as rights to determine the fate of the painting. In terms of benefits, there are exclusive events for different level of owners. For example, if one owns 30 percent of the painting or has a bigger collection, the events one has access to are more exclusive and private. This enables the team to create different circles of art collectors to let them network with each other and communicate.
Buyers acquire the pieces randomly upon the first sale; meaning they cannot actually choose which piece of the artwork they have bought. However, they can buy a piece that they want from another owner, and they can also resell the piece they have acquired. They can use the 10101.art secondary market to do that, or other popular platforms. Eventually, at a stage in the ownership journey, the buyers can decide the fate of the painting and implement their own mechanics; meaning that they can vote on where the artwork is to be exhibited next, in which country or which museum.
The collection at its current state includes two works by Banksy, one by Andy Warhol, two by Salvador Dali, two by Pablo Picasso, and one work by contemporary artist Gus Van Sant. Banksy’s ‘Turf War’ (2003) uses political imagery as a form of protest. His ‘Choose Your Weapon (Gold) VIP’ (2010) piece is in direct reference to the British youth and gang culture. The Andy Warhol artwork is part of the infamous ‘Campbell’s Soup Cans’ series; ‘Campbell’s Soup/ Scott Broth F & S 11.49’ (1968); the series became associated visually with the pop art movement in the United States.
From the Surrealism movement, Salvador Dali’s ‘‘Sans Titre’ (Homme-arbre au coeur écorché)’ (1954) conflates the human element with nature in a grotesque and yet compelling way. The other art piece by Dali is an original calendar that he designed which was printed in limited amounts.
Pablo Picasso ‘Tête d’une femme no5 (Portrait de Dora Maar)’ (1939 – 42) is a portrait of his lover and muse Dora Maar, created during his Cubism era. Another work by Picasso is a still life titled ‘Nature Morte au Verre sous la Lampe’ (1962), also from the Cubism movement.
Eventually, at a stage in the ownership journey, the buyers can decide the fate of the painting and implement their own mechanics.
A contemporary artist is included in the collection; Gus Van Sant, better known as the American filmmaker who directed Good Will Hunting among several other popular works. His work ‘Mona Lisa #11’ (2022) is a re-visiting of the infamous Renaissance painting by Da Vinci. The pixelated parts of the painting work well with the 10101.art concept; each square or piece sold will be an even color component of the artwork.
10101.art has an exclusive partnership with Monada Art Gallery in the Ritz Carlton Hotel in DIFC. The gallery was founded in 2021, and showcases Fine Art and renowned masterpieces from private collections, making them accessible to the public in Dubai. The 10101.art team chose Dubai as the main venue for the launch of their project precisely because of the city’s modernity, accessibility and its place on the international stage in regards to high tech events and art shows.
On Monday, April 15 the private networking event of 10101.art launched at the Ritz Carlton Hotel, opening the exhibition with the actual artworks on display to the event attendees. The event was attended by the founder of the project Iryna Garasymiv, as well as the CEO Alina Krot who gave a presentation. Included in the event was live art, tech performances and music by DJs. The event attendees were invited to participate in a pre-sale opportunity for the Banksy and Warhol tokenized artworks, as well. It was truly an exceptional and interesting event, allowing for a unique perspective into the international art scene.
You can visit Monada Art Gallery in Dubai to see the artworks in person. You can also explore 10101.art platform and the art available on sale at their website here.
Monada Art Gallery is located at the Ritz Carlton Hotel in DIFC, Dubai.
Follow 10101.art on Instagram here.
Follow the CEO Alina Krot on Instagram here.
