NEW YORK--(BUSINESS WIRE)--Particle, a company with deep roots in the worlds of art and technology, is proud to announce the utility imbued into their Particle NFTs, beginning with the very first piece of art to be particalized, Banksy’s iconic 2005 work, “Love is in the Air.”
The physical paintings, and the majority of their rights, will be donated to the Particle Foundation, a non-profit organization whose purpose is to preserve, maintain and tour the collection internationally for all Particle collectors to exclusively enjoy. Digital ownership of the works, represented by a “collector’s card,” will represent a de minimis, minority ownership in the painting, and will have no claim over the physical painting.
Particles represent both digital ownership as well as an admission ticket to participate in the art world at a level historically reserved for a select few. This ticket provides access both to physical spaces and museums, but also to digital metaverse spaces as well as unprecedented governance over humanity’s greatest cultural relics. Particles are your ticket into a movement of like-minded individuals seeking to own, collect and experience art in a revolutionary new way.
“We are attempting something completely new by devising a way for humanity’s greatest masterpieces to be preserved physically, but also to allow a wider population to hold digital ownership in these works of art, all the while benefiting from unprecedented access to the art world,” said Harold Eytan, CEO of Particle. “I mean increased enjoyment of the works via digital ownership, exclusive international in-person access to the collection and a partner network of museums worldwide, access to expert lectures and AMAs (Ask Me Anything), as well as a voice in the governance of the non-profit Foundation. This will allow Collectors to participate in key decisions pertaining to the future of the Foundation. Collectors are purchasing a ‘ticket’ to participate in the art world like never before.”
“Particle is following in the footsteps of the ConstitutionDAO in putting humanity’s treasures into the hands of a global community,” said Shingo Lavine, Co-Founder of Particle. “Digital communities have demonstrated that they wield significant power and influence when they come together over a common cause. We want to empower our community and let them operate at the highest level in the art world.”
The unique Particalization process involves dividing a painting into a 100x100 grid, resulting in 10,000 unique Particles, which are then turned into NFTs. Each Particle is unique and allows the holder to enjoy a personal ownership experience with the artwork. Particle is dividing “Love is in the Air” into 10,000 Particles, and selling the Particles as NFTs, allowing anyone to own a part of this iconic piece of art.
Particle owners will have a worldwide, non-exclusive, royalty-free license to view and display their Particles. All copyright to the image of the painting itself remains with the artist.
The physical painting of “Love is in the Air” will be donated to the Particle Foundation while Particle will also donate 1% of the Particles to the Foundation. Finally, the Foundation will also receive a portion of the royalty revenue contributing to that assurance.
Particle's mission is to revolutionize the way people own, collect, experience, and enjoy art masterpieces. NFT technology and the unique Particle process allows for the decentralization of the art collecting and ownership experience. We’re combining the best of art and blockchain expertise to build a platform that gives everyone the opportunity to own some of the world’s greatest masterpieces through collective participation in the art market. Every work acquired by Particle will be included in the Particle Foundation—a non-profit that will maintain, display, and tour the collection on behalf of the community.
Particle was founded by Loïc Gouzer, former chairman of Christie's Post-War and Contemporary Art, Shingo Lavine and Adam Lavine co-founders of Ethos.io, Philip Eytan co-founder and chairman of Voyager, and Oscar Salazar, founding CTO and Chief Architect of Uber. Particle has raised $15 million in seed funding including an investment from Voyager Digital (TSX: VOYG, OTCQX: VYGVF, FRA: UCD2), Atrum, and others who are passionate about the art and NFT markets.