Andy Warhol Artworks is launched on a new blockchain-based platform
Each of Warhol’s four prints will be available as shares in the form of security tokens.
Tokenized versions of some of the artworks of Andy Warhol are to be launched on a new nifty platform known as Freeport. This follows the blockchain-based art-focused platform recently receiving approval from the US Securities and Exchange Commission (SEC). Freeport was recently looking to complete its Reg A review, and the effort finally paid off on Wednesday. This simply means that Freeport is now licensed to sell shares of fine art in the form of security tokens.
In line with this, Freeport will sell an exclusive four-part collection of Andy Warhol prints. According to a press release, the four works were “partially acquired” from renowned art collectors such as Jane Holzer. They include Warhol’s most popular works “Marilyn” (1967), “Mick Jagger” (1975), “Double Mickey” (1981) and “Rebel Without a Cause (James Dean)” (1985). Each of the four Warhol prints will be available as shares in the form of security tokens. However, they will be limited to 1,000 lots per work.
The collection will be launched in May. However, there is already a growing waiting list of interested collectors hoping to gain early access to the artworks. And when the sale begins, the starting price for each tokenized lot will be somewhere between $250 to $860.
Andy Warhol Artworks: Stepping Stone toward Building Art-Centric Community
Meanwhile, Freeport’s CEO and co-founder, Colin Johnson, has shared one of the goals of the company regarding the upcoming launch. He suggests that fractionalized art is a trend that the younger generations currently find appealing. And with Andy Warhol’s work set for launch, Freeport will look to fully exploit the potential of the project. More than just fractionating shares of art into security tokens, Freeport also has some additional plans. According to Colin Johnson:
“We’ve built a fully immersive and interactive platform that hosts an art-centric community and redefines the fractional art ownership experience.”
Colin Johnson has also taken the time to clear the air about Andy Warhol’s artwork. The fact that art is involved can easily be mistaken for an NFT launch, says the CEO. However, he insists that these tokens do not resemble NFTs, but rather ERC tokens that represent shares.
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