Art Industry News: A Former Top Trump Cabinet Official Dropped $14 Million on a Major Magritte at Christie’s + Other Stories
Plus, the Art Institute of Chicago names Denise Gardner its new board chair and Kanye’s Nikes could fetch $1 million at Sotheby s.
April 14, 2021
Former U.S. Secretary of Commerce Wilbur Ross speaking at the SelectUSA 2018 Investment Summit June 22, 2018 in National Harbor, Maryland. (Photo by Win McNamee/Getty Images)
Art Industry News is a daily digest of the most consequential developments coming out of the art world and art market. Here’s what you need to know on this Wednesday, April 14.
Art Industry News: The Guggenheim Is Looking for an MBA to Teach It About NFT Art (on an Intern s Salary) + Other Stories artnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from artnet.com Daily Mail and Mail on Sunday newspapers.
March 11th, 2021
It is no longer possible to ignore NFTs, the crypto off-shoot that can tie intangible assets to specific, unalterable tokens. Interest in NFTs (non-fungible tokens) has spiked over the last year, and is now breaking into the mainstream with several headline-grabbing deals. On March 6th, Twitter co-founder Jack Dorsey announced that he would “sell” the first ever tweet on an NFT auction site. Right now, the current high bid for Dorsey’s initial missive stands at $2.5 million.
If Bitcoin has become the cryptocurrency world’s version of gold, a method of exchange that its boosters hope will always gain value, then NFTs are its asset class. Bitcoins are all equal, and can be broken down into chunks much like turning a dollar into change but NFTs are not, and cannot. They are intentionally unique and inviolable, allowing you to permanently tie them to a digital or real-world asset. It’s possible to produce a home ownership document as an NFT, but the world
Art Industry News: London Announces a Starry Shortlist of Artists to Create Its First Post-Pandemic Trafalgar Square Monument + Other Stories artnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from artnet.com Daily Mail and Mail on Sunday newspapers.
Art Industry News: The First Real-Life, Honest-to-God, In-Person Art Fair of 2021 May Take Place in March in Dubai + Other Stories
Plus, New York City awards $47 million in cultural grants and German auction houses had a surprisingly good year.
Visitors to the Elmarsa Gallery booth at Art Dubai 2019. Courtesy of Photo Solutions.
Art Industry News is a daily digest of the most consequential developments coming out of the art world and art market. Here’s what you need to know on this Wednesday, December 16.
NEED-TO-READ
Spanish Scholars Divided Over Murillo Painting – Painter Bartolomé Esteban Murillo’s canvas in a Seville Church is at the center of a debate in Spain. The work, which depicts the Immaculate Conception and dates to the 1640s, arrived at the church under “mysterious circumstances.” But is it really by Murillo’s hand? One skeptical scholar said the piece “lacks the characteristics that are present in youthful works by Murillo.” Another defended its at