Online Auction
May 20 - May 31, 2022
UNICORNS
"Lost-Key"
2010 by Otto Schade (Osch)
Digital Art Non-Fungible Token (NFT)
What is included:
- Unique digital file 1/1
- Artist’s Certificate of Authenticity
- Smart Contract with limited exploitation rights*
The artist about "Lost-Key":
This is one of the crazier things i have done. I have to play with the ribbons when I create art so it still gives effect to the message I want to share, in this case the eye in the mouth, the iris is the key. The key covers the eyes, like you’ve got the key, but you can’t see. The guy is screaming in pain because he’s got the key and can’t see. It’s like when you know you are wrong but you don’t want to recognize it, you’re in pain because you know you have the key but your refusal to recognize your own mistake, keeps you from seeing the key even when it’s right in front of you. It’s always open for interpretation at the same time.
CURRENT BID
USD 4,033,000.00
NEXT BID
USD 4,043,000.00
YOUR BID
USD 0.00
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TIME LEFT
Closed
The copyright for the artwork stays with the artist.
* = Exploitation rights are limited to the following rules: the owner of the digital file (NFT) is not allowed to create any digital or printed copies of the artwork. Thus, there is only 1 (one) unique and authorized file circulating. After the auction is closed, there will be 2 (two) limited editions of printed versions of the artwork: 100 (one hundred) poster prints and 100 (one hundred) t-shirt prints, both to be exclusively sold thru the International Gallery of Fine Arts Ltd. The owner of the NFT will receive 50% (fifty percent) of all net sales profits. There are no sales guaranteed, but the prints are expected to be sold out within 36 (thirty six) months of production with a profit share of appr. US$ 18,000 (eighteen thousand U.S. Dollars) to be paid to the owner of the NFT at time of sale.
Additionally, the NFT owner has the option to agree on the digital exploitation of the artwork as follows: the file can be part of an digital arts flat-rate subscription for individuals, businesses, galleries, and museums with a return of US$1 (one) per month per subscription for the owner of the NFT. Estimating an average of at least 1,000 (one thousand) subscriptions in 2023, the owner of the NFT would receive on average US$12,000 (twelve thousand U.S. Dollars) per year as proceeds from digital subscriptions. There are no subscriptions guaranteed.