We visit the ArtFi NFT gallery held at level 4 of TOKEN2049 to find out more about the works of Sacha Jafri and how we can own a part of it.
Walk past the entrance on Level 4 of the TOKEN2049 event, and you will come across the ArtFi NFT gallery on your left, a stunning exhibition that sets itself apart from other Web3 booths with its enchanting display of artworks, lights, and mirrors.
ArtFi, a fine art investment platform, is harnessing the power of blockchain technology to make art ownership more accessible to people. Investing in art is currently an expensive endeavour with artworks going for millions apiece, but through blockchain transparency and non-fungible token (NFT) fractionalization, ArtFi hopes to make art pieces cheaper and allow anyone to own it for mere tens or hundreds of dollars instead.
Step into the ArtFi NFT gallery, and you will be greeted by a mesmerising 3 by 4 square canvas of a Pollock-esque painting with splashes of striking red hues crisscrossing atop the canvas. Take a step further into the art gallery and you will find a majestic canvas of a painted mountain range along with other similar styled paintings. This collection of artworks is hand painted by Sacha Jafri; a British artist known for creating the world’s largest painting on canvas over seven months during the pandemic.
The art series is coined “The Six Elements” which is a nod to Sacha Jafri’s large painting, and each of the displayed artwork is inspired by one of the five traditional elements: Earth, Water, Fire, Wind and Air. According to the artist’s intent, the sixth element is Humanity, and he aims to inspire a more conscious humanity with expressions of love and empathy.
ArtFi Business Development Manager Sneha Yadev highlighted that these paintings are minted on the blockchain to be fractionalised into 10,000 NFTs per painting, and interested art collectors can purchase this on the website. “The actual idea behind it is, we are making finance accessible for everybody. Because art usually cost millions of dollars, it is not affordable for everyone to invest in it.” said Yadev.
Fractional NFT holders will be able to sell their assets on marketplaces like OpenSea and Blur for profit when the price of the artwork rises, but they will also be able to utilise the NFT in other ways. “We are also looking for lending and borrowing partners so that holders can use it as a bond, or to borrow money on it.” said Yadev when asked about such other financial services holders can tap into.
Stop by the ArtFi NFT Gallery on Level 4 of the TOKEN2049 event.