Andy Warhol's world's first NFT auction begins, and the "NFT+entity" model attracts attention

On June 24, the first NFT auction of Binance NFT, jointly held by Binance, TRON and APENFT Foundation, was officially launched. As the most important item, Andy Warhol's "Three Self-Portraits" NFT work was sold for US$ 2.52 million in less than 5 minutes after the auction started , and attracted a large number of onlookers.

The theme of this auction is "Genesis", which will last for 5 days until June 29. Among them, the bidding period for Andy Warhol's "Three Self-Portraits" NFT works is from June 24 to June 27, and the final transaction price will be announced at 8 pm on the 27th . At the same time, APENFT announced on social media that successful bidders will also receive the original physical "Three Self-Portraits" presented by APENFT .

Andy Warhol's Three Self-Portraits

It is reported that "Three Self-Portraits" was recommended by Justin Sun, a well-known blockchain figure and founder of TRON. He previously spent $2 million to buy the work from Christie's and NFTed it on the TRON public chain. This is also the first NFT of Andy Warhol's work. After that, Justin Sun donated the work to the APENFT Foundation , which he is optimistic about and focuses on the NFTization of artworks. TRON also provides underlying technical support for APENFT.

It is worth noting that the rise of NFT has been widely discussed. In addition to NFT's innovation in "blockchain + art", issues such as the NFT distribution rights and NFT value of works , and whether the copyright has been authorized for transfer or sale have also attracted attention from many parties .

Compared with the way most NFT platforms trade purely virtual works, Binance NFT's first auction presents "NFT+physical" works as the overall target, with a clear source and endorsed by heavyweight artists and important works. This "NFT+physical" model has attracted attention from all walks of life as soon as it was unveiled.

Compared with the previous model of destroying physical works to NFT, the "NFT+physical" model is obviously much more cautious and decent in respecting art and copyright; it is also much more sincere than hiding traditional paintings under the banner of NFT-ing traditional paintings and selling NFT paintings. This is also an attempt by the three parties of this auction, Binance, TRON, and APENFT, to connect NFT and traditional paintings. The hot auction of Andy Warhol's "Three Self-Portraits" also shows that the "NFT+physical" model is a more reassuring choice for collectors.

In addition to the "NFT+physical" auction of Andy Warhol's works, according to the Binance NFT auction platform, the entry-level items of this auction also include 100 NFT re-creations of Andy Warhol's "Three Self-Portraits" , 300 re-creations of Dali's prints paying tribute to Dante 's "Divine Comedy" , and more than 400 other artworks . According to the data currently displayed on the Binance platform, under the halo of the main auction item's bid of US$2.52 million, these auxiliary auction items have also been actively bid. As of press time, more than 20 of the first 34 works that went online have been bid at least once (real-time data can be found in the Binance official platform information https://www.binance.com/en/nft-premium/genesis).

According to the official announcement from Binance and APENFT, the second batch of Genesis auction items will be launched at 7 pm on June 25.