Banksy‘s shredded artwork, Love is in the Bin, just resold at Sotheby’s for $25.4m USD. That is an almost 18 times increase of the $1.4m USD it initially sold for on that unforgettable moment in the history of contemporary art. The winning bid was over three times Sotheby’s presale estimate and sold to an anonymous Asian collector.
Formerly known as Girl With Balloon, the undisclosed European collector hailed the shredded art as “the first work in history ever created during a live auction.” In true Banksy fashion, the elusive artist released a video showcasing how he pulled the prank off, noting that it was supposed to shred entirely but malfunctioned at the last second. “The urge to destroy is also a creative urge,” Banksy wrote on Instagram shortly after the event.
Who would have thought that an act that was meant to mock the art world elite, would in turn reward them? Nonetheless, the stunt is being hailed by many, such as BBC News art editor, Will Gompertz, “as one of the most significant artworks of the early 21st Century.”
Chicago-based artist, Jason Peterson has recently unveiled a new mural of rapper Kanye West in his hometown. The painting is located in the West Loop of Chicago, at the intersection of North Sangamon Street and West Lake Street.
In recent months, NFTs have seen a resurgence in the art world. Peterson is now selling the mural as an NFT, meaning that the person who purchases the NFT will now be forever linked to the mural through a mere QR code. The QR code is seen painted to the left of the mural and visitors will be able to scan the code to find out more about the piece’s owner.
In regards to artists and NFT, Peterson said, “Contemporary artists are constantly seeking new ways to challenge the status quo of art and its medium. NFTs brought in an innovative, new medium to the art world, allowing artists to fully control the distribution of their art as well as experiment with new ideas. I wanted to create a digital and physical experience that paid homage to the City of Chicago by creating a mural of Kanye West alongside other Chicago artists.”
The piece is auctioned on YeahProbablyNothing and will end on October 23, 2021. However, in the last ten minutes of the auction, bid extensions of three minutes per bid placed will be allowed. IN the 24 hours after the auction is closed, the bidding could still be re-opened if the buyer enters a bid that is at least 30% greater than the closing bid. If this occurs, then that Kanye West Mural NFT will become claimable on October 24, 2021.
After teasing the idea via Instagram, KAWS has released the first look at his special toy collaboration with characters Gachapin and Mukku from popular Japanese television series, Hirake! Ponkikki.
The childhood TV series first started broadcasting in 1973 and became a commercial success that seeped into various fields such as events and advertisements. Gachapin, a green bucktoothed dinosaur, and Mukku, a fury red yeti, compete across various lighthearted competitions in a show that can be seen as the Japanese equivalent to Seasame Street.
The “KACHAMUKKU” figure morphs the bodies of both beloved characters into one being that features KAWS’ characteristic ‘X’ eyes, a simplified body frame, and crossbones in the head. Additionally, the toy will also come in a blacked-out iteration that falls in line with many of the artist’s past work. “KACHAMUKKU” will initially release at the KAWS TOKYO FIRST exhibition — the largest presentation of work in Japan currently being held at Mori Arts Center Gallery — which will conclude on October 11. The figure will subsequently release on KAWS website at an undisclosed date.
In case you missed it, En Iwamura has released his first vinyl toy, “PINECONE BOY: SUNSET.”
Mori Arts Center Gallery
Roppongi Hills Mori Tower,
6 Chome-10-1 Roppongi,
Minato City, Tokyo 106-0032
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