An artist from Latvia just mentioned “Kiwie “announced its intention to launch more than a thousand non-fungible tokens that represent real street art.
According to a statement by Kiwie, With non-fungible tokens or NFTs, art connoisseurs can physically own the street art without removing the wall, sidewalk, or other infrastructure to which it was applied. The NFTs show 3D renderings of the artist’s “Fat Monster” character spray, which was painted in 1,001 real-world locations with corresponding geotags.
“Using NFTs to represent property keeps the beauty of art intact,” Said Kiwie. “Blockchain is not just a buzzword here, it rightly enables something that was previously impossible.”
Kiwie plans to launch five NFTs for existing street art pieces in the rarible market starting April 13th. The artist intends to plan further installments on a regular basis over the next five years. According to the Kiwie website The artist plans to create between 5 and 6 street art pieces for NFTs in 195 countries, starting with Latvia, Lithuania and Estonia.
The artist’s work has received both recognition and criticism over the years. They sprayed the Duke of Lancaster’s ship in Wales and are known for their monster paintings in the Latvian capital Riga. While some of the artwork is believed to have already been retired, the artwork associated with the NFTs function differently. If one of the 1,001 real monsters is destroyed or painted over on a bridge between physical and digital art, the NFT is retained, but the associated image turns into a “ghost monster,” a translucent and coated version of Halo of the same work of art.
The offer is part of a growing trend for cryptocurrency users to assign more real data to their NFT colleagues. Last month, IoTeX, a privacy-focused platform for the Internet of Things, announced that it was developing a device to record and encrypt data such as location, temperature, air quality and movement in NFTs so that owners can review their evidence of presence .