ElmonX, a digital asset platform, and Bridgeman Images, a global image licensing company, will handle the tokenization process. Terms of the bidding, which is scheduled to begin Aug. 12, are promised to be announced soon.
A Bridgeman Images spokesman clarified that the financial terms of the deal remain confidential:
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“But we license images for ElmonX pretty much the same way we license images for any commercial project. We license high-quality images and video for advertisers, filmmakers, publishers and designers across all industries.”
Previous NFTs released through the partnership include Leonardo da Vinci’s Mona Lisa, Van Gogh’s Starry Night, Auguste Rodin’s The Thinker and Claude Monet’s Water Lilies. Mona Lisa was sold in quantities of 330 NFT at a price of £150 each token.
Meanwhile, the NFT market has fallen on hard times. It was recently reported that Jack Dorsey’s first NFT tweet depreciated nearly 100% in value. And the value of the NFT bought by Justin Biber from the BAYC collection has dropped tenfold. Nansen’s analysts found: the rise of platforms like Blur and OpenSea has caused NFT creators to receive far less in royalties.
Recently, 99-year-old Vera Molnar, one of the first artists to use computers for art, sold a collection of 500 NFTs called Themes and Variations at auction at Sotheby’s.