Particle, a pioneering digital art platform, has declared the loan of its fractionalized Banksy painting, “Love is in the Air,” to world-class museums. Notably, the loan of this artwork, worth a hefty $12.9 million, is the result of a vote conducted by its 10,000 co-owners, which includes renowned names like Beeple, Paris Hilton, and Kevin Rose.
“Love is in the Air” tour will take Europe by storm
Banksy’s masterpiece, “Love is in the Air”, was fractionalized into 10,000 Non-Fungible Tokens (NFTs) in late 2021 and is managed by the Particle Foundation. The non-profit entity ensures that the artwork is taken care of based on the decisions of its co-owners.
The exhibition tour for the fractionalized Banksy painting begins this month in the United Kingdom. It will form a central part of a Street Art exhibition in Newmarket, England, titled “The Urban Frame: Mutiny in Colour.”
Following this, the artwork will embark on a six-month tour visiting MOCO in Amsterdam and then on to Barcelona, allowing a global audience to appreciate this iconic piece in person.
Democratizing art ownership through Particle
Since its foundation in 2020, Particle has significantly impacted the art world. By fractionalizing high-value masterpieces into NFTs, the company has allowed over 2,600 co-owners to participate in the ownership and governance of these artworks.
The democratic approach has been adopted for Banksy’s artwork and other pieces such as the H.R. Giger “Necronom” sculpture, inspiration for Ridley Scott’s “Alien” series.
Splitting art ownership into several fractions allows the owners to vote on where the work is displayed. Particle’s mission, as the CEO Harold Eytan notes, is to democratize art ownership:
“By opening artworks up to co-ownership, we are taking high-value artworks out of storage, and allowing them to be enjoyed in real life by global audiences,”
Particle’s contributions foster a sense of shared ownership and democratization in art. Eytan believes that as more institutions embrace NFTs, the future of art ownership and governance will be changed forever.