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Schiele joins the NFT trend with a broadcast of 24 of his works

Schiele joins the NFT trend with a broadcast of 24 of his works

This content was published on May 20, 2022 – 15:34

Antonio Sanchez Solis

Vienna, May 20 (EFE) .- The Leopold Museum in Vienna has joined the trend of marketing works of art in non-expendable token (NFT) format by issuing 24 pieces by the expressionist painter Egon Schiele at prices ranging between 499 and the 100,000 euros.

The NFTs, something like a certificate of ownership of a unique digital product, will be on sale until next May 26, in three categories that the Leopold has called “exclusive”, “super exclusive” and “ultra exclusive”.

The first includes 10 paintings and drawings with 100 units each, at a price of 499 euros.

A REDISCOVERED WORK

A particular case is the work “Leopold Czihaczek at the piano”, painted by Schiele in 1907, shortly before his 17th birthday, which was believed to be lost but was recently found in a private collection.

The NFTs of this portrait will be sold at a special price of 999 euros.

The “super exclusive” series consists of 10 copies for each of the nine works that make it up, including the famous kneeling self-portrait from 1910 or the drawing by his teacher Gustavo Klimt when he died in 1918.

These 90 NFTs will go up for auction with a starting price of €15,000 each.

Three of Schiele’s best-known works, “Dead Mother 1”, “Self-Portrait with Chinese Lantern Plant” and the emblematic “Portrait of Wally”, make up the “ultra-exclusive” series of NFTs of which the Leopold will auction two units for painting, with a starting price of 100,000 euros.

“PASSION FOR COLLECTING”

This NFT broadcast “has enormous potential to ignite the desire and passion for collecting among those interested,” the director of the Leopold Museum, Hans-Peter Wipplinger, told Efe.

The money raised by this first experience of Leopold in the world of NFTs, the second of an Austrian museum after the launch in January of “The Kiss”, by Gustav Klimt, by the Belvedere, will go to the restoration and conservation of the collection and the purchase of new works.

The issue is done in cooperation with the NFT platform LaCollection and the Austrian postal company.

The museum is confident that this launch will spark a lot of interest both among newcomers to the world of NFTs and art investors.

MILLIONAIRE INCOME

If all the NFTs are sold at the advertised price, the Leopold could gross more than €2.5 million, the equivalent of around 160,000 tickets.

However, Wipplinger decouples the commitment to NFTs from the drop in visitors recorded during the pandemic, both due to the periodic lockdowns that forced museums to close in Austria and the loss of tourists from outside Vienna and abroad, which meant the 80% of the total before covid.

“During the pandemic, digitization accelerated and intensified, and creative ways were sought to better reach people around the world online,” explained the expert, adding that such initiatives were already on the museum’s agenda regardless of the changes.

FUTURE RELEASES

Regarding the income perspective, Wipplinger pointed out that the museum does not set limits and that, in principle, the objective is to address the digital world.

Regarding the moderate response to the broadcast of El Beso in NFT format, four million euros over the planned 18 million, the director of the Leopold assured that this amount “can be considered a success” and contribute to cover the numerous expenses of the institution.

Wipplinger pointed out that his museum plans to launch other NFT issues from its collection of Schiele, the largest in the world with 43 paintings and 210 drawings, and other artists such as Gustav Klimt, Koloman Moser or Josef Hoffmann. EFE

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