RIGA, LATVIA / ACCESSWIRE / May 4, 2021 / Kiwie, the Latvian digital art collective, is pleased to report that its first round of the NFT Fat Monster auction has closed successfully, with the team counting Zuzeum, an established art collector and art center among its participants. The sale marks the first known instance of an art center purchasing an NFT digital art piece.
Zuzeum purchased the Gray Rainbow, a unique item in Kiwie's first collection on Rarible. The NFT represents the eponymous graffiti drawn in Riga in 2013, which decorates the entire side of a building close to the city's center. The Gray Rainbow is also one of Kiwie's more iconic designs, featuring the Fat Monster beneath a dragon mask.
Kiwie's NFT collections are unique in that, in addition to a well-crafted piece of 3D digital art, they are a representation of a specific graffiti drawn somewhere in the world. The owners of the NFT become owners of the graffiti itself, having the ability to resell the piece or keep it to themselves. Kiwie's signature Fat Monster character can be seen in places all around the globe, including England, Bali, Eastern Europe, and many others. Should graffiti attached to an NFT be covered up, the virtual 3D figure will turn into a unique "ghost monster."
Zuzeum has bid 2.6 ETH for the NFT, and it has committed to putting the Gray Rainbow on display in the art center, though it has yet to devise a specific way to showcase the unique art piece. Traditionally, graffiti art was sold by removing the portion of the wall that contained it, a highly invasive procedure that would be impossible to adopt in the case of the Gray Rainbow, in particular. The use of NFTs to represent graffiti provides a much-needed synergy that bridges the gap between the real world and digital art.
"We are honored that Zuzeum has made their debut into the exciting world of NFTs with our collection," said Kristaps Vaivods, Lead Business Strategist at Kiwie. "Art collectors around the world have started looking closely at NFTs recently, some with suspicion, others with cautious excitement. But few have made the leap like Zuzeum, and we hope this will motivate others to do the same."
"Having witnessed the brisk blurring of distinctions between the physical and virtual realm within the NFT metaverse over the last few months, we were assured that Zuzeum would take the role of a catalyst rather that an onlooker," said Agnese Kleina, Director of Zuzeum. "Zuzeum is an active supporter and promoter of Latvian art, and the decision to bid on Kiwie's Gray Rainbow was an obvious choice. We are eagerly awaiting the possibilities this new future - this Renaissance 2.0 - has to offer."
Zuzeum is an art center located in Riga, Latvia. Founded in 2017 by Dina and Jānis Zuzāns, prominent collectors of Latvian, Russian, and international art, the gallery is one of the more notable spaces for debate and cultural exchange in the Baltic region.
About Kiwie
Kiwie is the name of a Latvian art collective led by the eponymous Kiwie, one of the first street artists in Latvia. Kiwie's signature Fat Monster was born in 2005 and gained recognition worldwide for its cute design and unique artistic meaning. Kristaps Vaivods, a blockchain gaming industry veteran, leads the blockchain vision for the collective and is the mind behind its revolutionary NFT drops.
CONTACT:
Dan Edelstein
[email protected]
SOURCE: Kiwie