ArtSquare.io’s vision of an open and accessible art market is finally a reality. On June 10, 12 PM (GMT+1) we will launch our first digital art listing and populate the Primary Market with digital art shares of a very special artwork. We have selected a top-notch and sophisticated piece for this landmark event: Andy Warhol’s numbered screenprint from 1984 Kiku.
As a giant of contemporary art and the most successful brand in the art market, Pop Art leader Andy Warhol needs no introduction. His ravishing and hypnotic images of 1960s America’s celebrity and popular culture have influenced a whole generation of artists and keep fetching millions across the global art market. One only needs to think that between 1987 (the year of Warhol’s death) and 2010, average auction sales for his works have increased by 3.400%, with price tags ranging from $1,500 to $100 million.
Warhol’s artworks are unmistakable for their hyper-saturated palette, glamorous pop motifs, and graphic feel, and Kiku makes no exception. Warhol’s lifelong fascination with flowers brought the Gendai Hanga Center in Tokyo to ask him to create a series of prints based on the chrysanthemum (‘kiku’ in Japanese), a symbol of Japanese imperial power. Using his signature aesthetics of replication and colour-field patterning, Warhol painted golden silhouettes of multiple overlapping chrysanthemums slightly transposed at different angles against a bisected background of solid white and violet.
Kiku’s market value is €28.000 and most excitingly, ArtSquare.io is listing 100% of it. We will issue 28,000 art shares worth €1,00 each, which Investors will be able to buy by signing up to ArtSquare.io and creating their Wallet -as we explained here and here.The minimum investment amount will be €1,00, corresponding to one digital art share.
We want our Art Investors to make the most out of our first digital art listing, so we are giving them the chance to pre-book any number of shares for Kiku. Purchase orders placed before June 10 will be processed before the sale of art shares on the Primary Market goes live, while other Art Investors will be able to start buying on a first come, first served basis until the end of the primary sale.
With ArtSquare.io, you can become the owner of Warhol’s Kiku. At the end of the primary sale, the Art Investor who owns the greatest number of digital art shares will physically own Warhol’s Kiku for six months. By the end of the six month period, the new majority Art Investor can request physical ownership of the artwork, and so on. Every six months, ArtSquare.io gives a new Art Investor the opportunity to become the owner of a Warhol.