A unique mural by Banksy with a potential value of $1m is to be given away as part of a new NFT edition. ‘Refugees’ appeared on a wall in Glasgow in 2001 at the same time Banksy held his ‘Peace is Tough’ exhibition. The artist executed two other murals while he was in the city: one depicting three helicopters and another of a gun-toting monkey in a tutu beside the Mona Lisa. Both have been renovated and the helicopter work was recently put up for sale for £1.6m, experts have argued that the value could be higher if sold as an NFT with greater options for nft profit.
The Non Fungible Token, which is being offered by Exposed Walls, a company that specialises in the renovation of street art, is entitled ‘Gorilla in a Pink Mask’, another unique work created in the same year. It will be sold in an edition of 10,000 and be available for purchase on12 January 2022.
Each NFT willl cost around $750, and when they are sold out, one of the owners will be selected randomly and awarded ‘Refugees’. The owner will be offered the option of a one-off NFT or to take possession of the physical object.
‘Gorilla in a Pink Mask’ is being fractionalised into 10,000 unique parts. Owners of each segment will receive a certificate of authentication showing the part of the mural on which the artwork appears. The concept is that you own part of a historic work by the artist, as opposed to other platforms that only allow you to buy ‘shares’ in artworks. The focus is on collecting rather than investing, though like any other NFT it is anticipated they will be traded on platforms such as Opensea.
Exposed Walls is asking people register their interest on a website dedicated to the sale. It plans to offer a series of other works by Banksy as NFTs in the near future.