https://ift.tt/l19n6H4 Of Picasso Can’t Sell His ETH NFTs Over Family Dispute

The great-grandson of Picasso recently started selling NFTs that was inspired by his grandfather’s work, however, he has issues selling them because of a family dispute that we read more about in our latest Ethereum news.

About 10% of the NFTs offered on Origin Protocol were sold but then a family dispute derailed the branding as a Pablo Picasso NFT. A Pablo Picasso NFT sounds amazing especially to some collectors but the recent announcement also gave way to a family dispute over the usage of his name and the great-grandson of Pikaso Florian had to clarify that they were not official Pablo Picasso NFTs. And now, the ETH NFT inspired by the artists is not selling anymore. Florian is a DJ and music producer and his mother Marina Picasso announced plans to release 1011 NFT collectibles based on a never-before-seen ceramic bowl painted by Picasso that was created in 1958:

“We’re trying to build a bridge between the NFT world and the fine art world.”

The other family members however disagreed. The Picasso Administration that oversees the use of the name alogn with Picasso assets are held by descendants, issued statements clarifying that the NFTs would not be actually Picasso’s work. Florian’s NFTs would be his own creation and have to be independent of any claim vis-a-vis Picasso and his works. Florian however continued with the drop “Man and the Beat” which was rebranded as his own work according to a report from Artnet.

A single edition piece sold for $41,500 via Nifty Gateway a week ago and came with an original piece of Picasso’s pottery with another 10 NFTs that were sold at the same marketplace for amounts ranging from $4000 to $5655 but no pottery included. Both NFT drops carry the disclaimer that the NFT is the personal creation of Marina and Florian Picasso and not by Pablo Picasso, his name and work. Florian released 1000 Ethereum NFTS inspired by his great-grandfather via the Origin protocol marketplace for 2 ETH apiece but as of the time of writing, about 100 of those spread across five editions and were sold since February started.

An NFT is a cryptographic token that serves as a deed of ownership to unique digital items and it can represent digital artwork, video files, game files, and more. The market swelled to $25 billion in trading volume in 2021 and prompted a flood of brands and high-profile creators into the space. The Nifty Gateway NFTs features audio from a song “Tomorrow” created by Florian Picasso and John Legend both of whom made moves into the NFT space. Rapper NAS was also a part of the project and he also entered the NFT space. The Origin Protocol NFT has the backing track from the song with no vocals.