Avant-Garde Painting to Be Sold With NFT-Backed Proof of Provenance
An avant-garde artwork from the 20th century will be auctioned later this month. The buyer receives a certificate of authenticity in the form of a non-fungible token (NFT).
According to a press release CoinDesk announced on Wednesday, a 1926 painting entitled “Abstract Composition” by Ukrainian-born Vladimir Baranoff-Rossine will be auctioned. The sale will take place on the NFT marketplace Mintable, supported by Mark Cuban, who has worked closely with the artist’s family on a number of sales of his work.
The artwork is sold in its original frame signed by the artist and with the NFT certificate, which digitally verifies the origin and authenticity of the artwork using blockchain technology.
Additional sales, which are exclusively NFT digital representations of Baranoff-Rossine’s works, will be handled through three auctions and six limited edition sales starting March 25th.
Zach Burks, CEO of Mintable, told CoinDesk via email that the artist’s grandson reached out to Mintable a few months ago about using NFTs as a means of digitizing family heritage.
Baranoff-Rossiné was a Ukrainian, Russian, and French painter, sculptor, and inventor. He was part of the Cubo-Futurism movement before he was caught up in Nazi persecution for Jewish heritage that brought him to Auschwitz, where he later died.