The name of the project is clear, the heroes of this series of NFTs will be the real works of art by the renowned artist.
Banksy Walled Off hotel
At the center of this project are 1,000 original prints from Banksy’s hotel wallet in Bethlehem.
For those who don’t know, the hotel in question is a boutique hotel designed by street artist Banksy in collaboration with other creatives.
The hotel is located near the disputed West Bank, the wall that has separated Israel from Palestinian territories since 2002.
The original prints were hand-painted by Banksy’s team and sold to customers at Banksy’s Waldoff Hotel in Bethlehem between 2017 and 2019.
Curators and experts expect the whole number of small frames to be about 6,000 pieces.
Banksy Walled Off hotel Box set
Behind this ambitious project is LCD Lab, that tries to create a strong connection between the world of traditional art and the world of NFT.
LCD Lab was established by French artist Léo Caillard, a creative artist famous for both his sculptural skills and his NFTs.
LCD Lab designed 1,000 Banksy-inspired Radar Rats by matching them to 1,000 of the famous box sets.
Each rat (the major subject of the NFTs) has several characteristics, which determine the rarity of the digital works, but at the same time, do not affect the canvas it is matched with.
In short, each NFT will be collateralized with one of the Banksy Box Sets. The user cannot select which box set to get, it is actually randomly chosen.
To ensure complete transparency and authenticity of the works, the 1000 pieces are authenticated by an art expert and sent to the user along with the original hotel invoice as a certificate.
Until now, the value of a single Banksy Box Set is from 2,500 to 4,000 euros in Asia and from 1,500 to 2,500 euros in France.
How does the purchase act precisely?
Any eager user can buy LCD Lab’s NFT on Magic Eden launch pad or on the secondary market.
Thereafter, they can select to
keep the NFT in their wallet, and speculate on a future price increases, or burn the NFT on the LCD Lab website to redeem and get the physical copy collateralized to it for free.
At this time, 1,000 Banksy Box Set is a stored in a secure vault and NFTs can be burned at any time.
It is clear that the more NFTs are burned, the lower the supply will be.
Livemint in Paris
This project will be released in grand style. In fact, there will be a release party on September 14th, a grand artistic opening associated with the VIP livemint in downtown Paris.
The inauguration will include 25 artists due to the sponsorship of the Stroke Gallery and Magic Eden.
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