{"id":505,"date":"2021-04-08T08:12:13","date_gmt":"2021-04-08T00:12:13","guid":{"rendered":"https:\/\/www.atelierauction.com\/globalupdates\/?p=505"},"modified":"2021-04-07T13:06:17","modified_gmt":"2021-04-07T05:06:17","slug":"market-giants-team-up-to-sell-urs-fischer-nfts-this-is-a-decentralization","status":"publish","type":"post","link":"https:\/\/www.atelierauction.com\/globalupdates\/auction\/market-giants-team-up-to-sell-urs-fischer-nfts-this-is-a-decentralization\/","title":{"rendered":"Market Giants Team Up to Sell Urs Fischer NFTs: \u2018This Is a Decentralization\u2019"},"content":{"rendered":"

Last month, Christie\u2019s shocked the art world by selling an NFT artwork by the artist Beeple at auction for $69 million. Since then, artists like Simon Denny and Damien Hirst have released NFT artworks. Now, a different kind of arrangement has been made to sell NFTs, one that involves collaboration between an auction entity, a traditional gallery, and a website that sells NFTs of all kinds.\u00a0Fair Warning<\/a>, the auction app founded by former Christie\u2019s specialist\u00a0Loic Gouzer<\/a>, is teaming up with\u00a0Pace Gallery<\/a>\u00a0and digital art platform MakersPlace to sell a series of NFTs by the acclaimed mid-career artist\u00a0Urs Fischer<\/a>.<\/p>\n

\u201cIf this works,\u201d Gouzer says of the project, \u201cthis will really be a validation for the whole NFT sphere.\u201d<\/p>\n

Fischer is creating a series of 501 digital artworks that will exist as NFTs. Collectively, they are titled \u201cCHAOS.\u201d In the first 500 of them, two unrelated everyday objects\u2014for instance, a cigarette lighter and an egg\u2014come together and interact. Number 501 will be an artwork that combines all 1,000 objects. It will be \u201clike a movie,\u201d Fischer said, and it will be exhibited on a screen in a physical space still to be determined. He considers them \u201cdigital sculptures.\u201d<\/p>\n

Fair Warning will auction off the first of these NFTs,\u00a0CHAOS #1 Human<\/em>, on April 11. MakersPlace will begin selling subsequent ones the following day, and they will also be made available on Pace\u2019s website.<\/p>\n

Fischer is best known for his large-scale sculptures made in materials from bronze to wax. Since then, his work has dealt in unusual pairings of objects. His \u201cProblem Paintings\u201d superimpose pictures of pieces of fruit and metal on images of famous actors\u2019 faces.<\/p>\n

The \u201cCHAOS\u201d NFTs came out of a need for a medium that would accommodate the grand ambitions of his latest project. Two years ago, Fischer started to think about how, \u201cas humans, we hardly ever touch something that isn\u2019t man-made, that isn\u2019t cultured and engineered.\u201d He photographed 1,000 everyday objects, from house cleaner to car seats, and loaded all the images into the same frame as a kind of draft, so that it looks as though they are floating in space together. But he was frustrated\u2014he wanted to find a way for the objects to move and interact.<\/p>\n

Last summer, Fischer began discussing his project with Gouzer, who had just launched Fair Warning and become interested in NFTs, in part through Fair Warning\u2019s CTO, who is a specialist in them. When Gouzer told him about the medium, Fischer\u2019s \u201ceyes lit up and he saw a path.\u201d<\/p>\n

 <\/p>\n

With so many NFTs, Gouzer knew their sale couldn\u2019t be limited to his auction app, so he sought a gallery partner. \u201cLoic came to me, and I put my hand up really fast,\u201d said Glimcher, who had himself been thinking about how to work with digital art. \u201cEvery work of art that I sell that is digital\u2014which is quite a bit\u2014should all live on the blockchain and be NFTs.\u201d (Last week,\u00a0Pace hired Christiana Kimba Boyleas<\/a> its first online sales director; one of her focuses will be NFTs.)<\/p>\n

(The\u00a0Wall Street Journal<\/em>\u00a0reported earlier today that Gouzer gave Gagosian Gallery, Fischer\u2019s worldwide gallery representative, a chance to partner in selling the NFTs, but that Gagosian is holding off for now on selling NFTs.)<\/p>\n

For some, producing NFTs can been considered an easy way of capitalizing on a market trend that may be a short-lived. (According to a recent\u00a0Bloomberg<\/em>\u00a0report, the average price for an NFT dropped around 70 percent between February and March.) But according to Gouzer, Fischer had thought carefully about his NFTs. \u201cUrs has always used technology not like a gimmick,\u201d Gouzer said.\u201d \u201cIt was used in the service of his ideas.\u201d<\/p>\n

Fischer\u2019s work has sold for millions of dollars at auction. On Fair Warning, the pre-sale estimate for his first NFT is a much lower price\u2014just $1,000\u2013$2,000. \u201cOf course,\u201d Gouzer said, \u201cI want the price to go up because it validates Urs\u2019s art, but especially for the second one on MakersPlace I hope it will not go up too fast too quickly. I think it\u2019s amazing that you could have a unique work by Urs and not have to pay millions of dollars.\u201d<\/p>\n

One aspect of NFTs has given Gouzer pause\u2014it\u2019s been difficult for him to square\u00a0their environmental impact<\/a>\u00a0with his own dedication to going green. (Wired<\/em>\u00a0recently reported that the 2019 sale of six works by artist Joanie Lemercier on Nifty Gateway used 8.7 gigawatts of energy in just 10 seconds. Many NFT sales go on for far longer periods of time, and can require far more energy.) To remedy this, Gouzer will not only be offsetting the environmental cost of Fischer\u2019s NFT by putting some of the proceeds towards environmental charity\u2014Oceana, where he serves as a board member. He will also help seed Ethereum 2, which will authenticate NFTs through a different process which is less environmentally impactful.<\/p>\n

It\u2019s unusual for a gallery to collaborate with an auction house in such a way, even an innovative one like Gouzer\u2019s, and the selling of primary market work at auction\u2014work straight from an artist\u2019s studio\u2014has traditionally been troublesome for the contemporary art galleries and their artists. But Glimcher says NFTs require openness to a different model.<\/p>\n

\u201cYou\u2019ve got to loosen the screws on your moralistic stance, open your mind a little bit,\u201d Glimcher said, adding, \u201cThe speculators are going to come in, but on the other hand, this is a decentralization. I\u2019m opening up my mind to this hybridized way of how to put the art out into the world, which includes some form of auction.\u201d<\/p>\n

While it\u2019s as yet unclear how Gouzer and Glimcher\u2019s gamble will pay off, Fischer is already thinking about how number 501\u2014his final, movie-like piece\u2014might be displayed. Might Superblue, a project cofounded by Glimcher to show experiential art by charging for tickets, be an option? From the way Fischer talks about how such creations might ultimately be displayed IRL, he seems open to it. \u201cMaybe you need a different patronage model for some things,\u201d he said. \u201cIt\u2019s more like people go and experience something rather than having a possession or owning something.\u201d (Glimcher said an IRL display of the piece could happen as early as this fall.)<\/p>\n

Of the NFT craze, Fischer observes, \u201cIt\u2019s interesting that this whole thing surfaces now as we all spend a year on the screen.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Last month, Christie\u2019s shocked the art world by selling an NFT artwork by the artist Beeple at auction for $69 million. Since then, artists like Simon Denny and Damien Hirst have released NFT artworks. Now, a different kind of arrangement has been made to sell NFTs, one that involves collaboration between an auction entity, a […]<\/p>\n","protected":false},"author":2,"featured_media":506,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,13,7,4,3],"tags":[128],"class_list":{"0":"post-505","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artist","8":"category-auction","9":"category-events","10":"category-gallery","11":"category-latest-news","12":"tag-the-artist"},"yoast_head":"\nMarket Giants Team Up to Sell Urs Fischer NFTs: \u2018This Is a Decentralization\u2019 - Investable Art Auctioneer<\/title>\n<meta name=\"description\" content=\"Last month, Christie\u2019s shocked the art world by selling an NFT artwork by the artist Beeple at auction for $69 million.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.atelierauction.com\/globalupdates\/auction\/market-giants-team-up-to-sell-urs-fischer-nfts-this-is-a-decentralization\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Giants Team Up to Sell Urs Fischer NFTs: \u2018This Is a Decentralization\u2019 - 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