WRITTEN ONLINE IN 1996 ART TRADING: A NEW "VIRTUAL" MARKET.
ART TRADING: A NEW "VIRTUAL" MARKET. Setting a world-wide precedent : The Galerie Pierre Nouvion in Monaco, (César,...
In 1996 - In the photo, the auctioneer, Jean-Claude Binoche, presents the envelope of the artist at the Hotel Drouot, Fred Forest, containing the secret code allowing the only buyer to access his work "Parcelle / Réseau" online.
In 2002, the company n@rt, which owned the work, was forced to throw in the towel. According to Bruno Chabannes, one of the two people in charge of the company, the work, Parcelle/Réseau, was seized by bailiffs along with the company's computers and furniture... This adds an additional value to the incredible legend of this exceptional work. The artist having kept a copy of the original file in his possession, as is customary.
In 2021 - From the initial computer file, slightly modified, but applying a similar protocol, Fred Forest, proposes today a brand new work: "NFT-archeology". A work, which he puts on sale according to a codified and certified protocol, of which he considers to have the paternity on all the NFT already created and to come, because of the anteriority of his concept. The use of the blokchain guarantees since its creation, its durability as its inviolability.
The sale by mutual agreement qualifies the transmission of a right or an asset by the effect of the free manifestation of the wills of the parties. In other words, it is carried out without intermediary and is opposed to the forced sale (public sale) or by auction.
2 -Associated in its sale with the painting that inspired it and that is an integral part of the proposed NFT.
The three elements which constitute the work were the subject at the time of their setting on line of a control by Maître Rémi CHAVAUDRET - SCP Rémi CHAVAUDRET & Renaud CASTALAN Huissier associé 33 galerie Vero Dodat 75001 PARIS.
Only one of the three elements is visible on line on OpenSea.
The NFT will be offered for sale at a price of sixty-nine million three hundred thousand dollars +1$ (the most expensive digital work in the world to date) to which the buyer will have to add an extra dollar to be able to own.
-The time of the sale is indefinite. The work will be available for sale for a few seconds, minutes, hours, days, weeks, months or years, depending on the goodwill of the artist and the potential buyers.
-If it should happen that during the time of this sale, another work is acquired - in the form of an NFT - at a higher amount than the most expensive work in the world today, the "NFT Archeology" will then be priced at this new amount; + 1 dollar.
The NFT Archeology is non-negotiable and any collector will be required to show proof of a security deposit in one of their banks prior to entering into purchase discussions.
- The only person authorized to receive purchase orders is the artist himself
-The artist who intends to control the sale, without intermediary, can withdraw the work at any time, and take it back if he feels like it.
-Note, a redistribution of part of the amount of the sale will be distributed to the benefit of associations, a foundation or other projects with a citizen dimension is under consideration. (during his last action) "The invisible banana" Forest has made benefit the product of his sale, that is to say 15000 dollars to an association of artist in difficulties.
The buyer of this work "NFT Archeology" will also have the opportunity to be an integral part of the History of Art, at this historical moment when the market under the double action of the NFTs and the generalization of the on-line sales is confronted with drastic transformations which play inevitably with the development of technologies, accelerated by the Covid-19 on the economy, the social and the human relations, for a more ethical art. Fred Forest will have had to wait patiently 25 years to see opening for him this moment so ardently wished.
See this text on line since 26 years, baptized by the artist, true prophet of the Net, "Commerce of the art new market of the virtual".