The artèQ investment fund and the Belvedere museum in Vienna cooperated to introduce a nonfungible token (NFT) drop inspired by one of Austrian painter Gustav Klimt’s most iconic works, “The Kiss.”
A digital replica of this early 20th century depiction of a couple of lovers was divided into a 100-by-100 grid of 10,000 unique pieces and given as NFTs on Valentine’s Day. According to the collection’s website, the cost of one NFT painting was assessed at 1,850 euros, which converted to.65 ETH on Feb. 14 and implied the total nominal worth of the NFT artwork was 18.5 million euros, or $21 million. However, just 33.3 ETH, or $103,900, had been received at the time of publication, and more than 80% of the collection remained unsold.
The Belvedere’s “A digital declaration of love” NFT collection had a low take-up rate, which could indicate that each piece was overpriced or that NFT buyers are less interested in traditional art at this time in the market’s evolution. Since 1908, when it was purchased for 25,000 crowns (about $240,000 today), the picture has been housed at the Belvedere. The digital portion of the artwork purchased was exposed on the issued NFT certificates, and if the picture was donated to a loved one, a specific dedication was included.
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