Several successions of artists including those of the Picasso and Magritte families call Thursday in a tribune for the market, in full boom, of the NFT to be built “in respect”…
Several successions of artists including those of the Picasso and Magritte families call Thursday in a tribune for the market, in full boom, of the NFT to be built “in the respect” of copyright.
“The irruption of NFTs on the art market has given rise in recent months to speculation on an unprecedented scale. All over the world, many operators have embarked, often in haste, on initiatives to offer for sale works, new or pre-existing, attached to these digital tokens registered in the blockchain, “write nearly twenty successions of artists including great names of contemporary art worldwide.
However, they continue, the marketing of some of these NFTs is done “often without the assistance of the artist or his successors”.
“It is important that market participants bear in mind the basic rules of law that apply to them, at the risk of being held liable (…) any reproduction and communication to the public of a work of art, whether partial or total, can only take place with the consent of the artist or his successors in title,” they insist.
Thus, more than “a thousand fraudulent works and counterfeits have been removed from NFT’s sales platforms”, in recent months specifies the press release of the ADAGP (French Society for the Collection and Distribution of Copyright in the Field of Graphic and Plastic Arts), also a signatory of the tribune.
To do this, these successions of artists and the ADAGP have launched a website. Objective? facilitate requests for NFT creations (NFT-artists-rights.com).
Among the signatories of the tribune: the Le Corbusier Foundation, the Yves Klein archives, the Lempicka estate and the Miro estate.
Non-fungible tokens or NFTs have been around for several years but the interest they arouse has increased in 2021 with several media sales, including that in December 2021 of the work of the artist Beeple which sold for $ 69.3 million in the United States.
After years of hesitation, auction houses and galleries have entered this new market. However, this boom is disrupting the traditional codes of validation of what a work of art is.