Dubai Gallery To sell Rare Picasso And UAE Royal Family NFTs | Latest Report
Dubai’s art scene is going to be more exciting with the announcement of Dubai Gallery selling a rare Pablo Picasso artwork along with its Digital art NFTs developed by the UAE Royal Family members. The Picasso Masterpiece known as “Portrait de Marie Therese” is one of the best oil paintings that was completed in 1927 while the artist was having a golden age.
Additionally, the Royal family is going to demonstrate its efforts to push the boundaries of what is possible in the world of technology and art.
About The Rare Picture Of Picasso
The picture depicts Picasso’s muse and lover, Marie Therese Walter, and is considered to be one of his best works. It is the representation of the artist’s signature style, vibrant colors, lines, and abstract shapes. The painting is going to be sold at a really high price as it is one of the rarest paintings by Picasso.
Along with the Picasso Painting, the Dubai Gallery soon will be selling digital Art NFTs created by the UAE royal Family members. Non Fungible tokens or NFTs are the type of digital assets that cannot be replicated and are unique. For quite a few years they have become increasingly popular in the world of traditional and digital artwork. It allows artists to have better sales of their digital art and prove its authenticity.
Dubai Gallery will sell the NFTs and feature them as they are created by famous members of the UAE royal family including the crown of Prince, Sheikh Hamdan bin Mohammed Bin Rashid Al Maktoum. This Art is going to be in demand around the world and in the UAE.
It is worth noting that this sale is not the first time Christie has ventured into the world of NFTs. in March 2021, the auction house sold the digital artwork (Beeple) worth USD 69 Million making it the third-highest auction price ever paid. Also, the fact of two different types of art being sold together in the same auction is a reflection of the way art and technology are amalgamating and evolving in the digital age. A lot of artists and collectors are experimenting with new platforms and technologies, resulting in the line disappearing soon between the different types of art.
Earlier in 2020, the Dubai art gallery sold a painting by Lebanese artist Paul Guiragossian for approximately USD 500,000 and in 2019 it sold a painting worth 1 million by Iraqi artist Shakir Hassan Al.
The sale of Picasso paintings and UAE royal Family NFTs would generate a lot of interest both from the world of NFTs and art collectors. It is going to test the appetite for the high-priced collectibles and artwork post-pandemic world as the global market was hit hard by the covid 19 pandemic.
However, there are still some people who are quite skeptical about the NFT trend and consider it to be a passing fad that would no longer have an impact on the art world. Whereas others are worrying that the popularity of NFTs would divide the elite who can buy high-priced NFTs from the rest of the population.
Despite the challenges, the art market has shown a commendable reliance in the past few months. The sales of the UAE royal Family and Picasso paintings are just an example of reliance and opportunity for the market to bounce back.
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This sale is one of the best examples that showcase Dubai’s everlasting reputation as an important center for culture and art. The City has become home to world-class art galleries and museums. Also, it is becoming a hub for art exhibitions and fairs in the Middle East.
Moreover, This sale of Picasso Painting and the NFTs by the UAE Royal Family would attract a lot of attention and is a difficult testament to Dubai’s status as one of the global players in the art world. The Sales are expected to start in the upcoming months and art enthusiasts and collectors are eagerly waiting to see the results. Globally the art market is going to adapt to the new trends and technologies, resulting in the art industry staying an important vital part of human culture for many years.
Overall, the upcoming sales of the UAE royal Family NFTs and rare Picasso paintings are a significant and exciting development in the world of art. Whether you are an enthusiast, collector, or simply someone who likes the beauty of art and appreciates its power, this event is going to be the best event that would capture your imagination and spark your interest and curiosity.
An OG 90's Middle East-born Indian guy with a love for everything "Gulf". My love for culture, food, and opportunities in the UAE makes me want to share the latest news and events in the UAE to keep my fellow UAE residents in the loop of what's happening around us in the country.