Thursday, December 1, 2022

Picasso’s Granddaughter Will Continue Producing NFTs: Report

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Picasso’s Granddaughter Marina Picasso, says she and her son’s NFT collection has been endorsed by Claude Picasso after the initial pushback from the family and said that she will continue producing NFt as we can see further in today’s latest cryptocurrency news.

Picasso’s Granddaughter Marina Picasso, issued a statement on YouTube in response to her and her son Florian’s Ethereum NFT collection after a family disagreement emerged into the public. She expressed support for the technology and said that her uncle Claude Picasso endorses the project now. She said that going forward, she and her son will continue producing NFTs.

NFTs are unique tokens that exist on the blockchain networks like Solana or Ethereum and demonstrate ownership over a digital or physical asset. In the case of Marina and Florian, each token points to ownership of an mp4 file that has art on it inspired by one of Picasso’s famous bowls.  Marina said in the video:

“I have a 30-year-old son who’s passionate about NFTs. It appealed to me, so I looked into this subject, and I find that it’s a modern technology that allows us to connect with art. It really appealed to me. And it’s in this way that I decided with my son to create our first NFT collection.”

Their NFT collection dubbed “Man and the Beat” struggled to sell at the high mint price of 2 ETH each after reports emerged that Claude Picasso who is the head of the Picasso administration, didn’t approve of the NFTs. Despite celebrities like John Legend promoting the project, few actually sold after the collection was launched three weeks ago. The decentralized marketplace Origin Protocol is hosting the collection via a custom website and as of today, not much has changed since the initial reports that only about 10% of the collection had been sold:

“Unfortunately, our ideas weren’t communicated as they should have been, and in relation to certain members of my family that already had a difference of opinion, there was really a misunderstanding that didn’t do anyone any good. I have the support of my uncle, Claude Picasso… he’s dedicated his life to protecting the legacy of my grandfather, his father.”

Counterfeit NFTs, marketplace, activity

Marina added that Claude now endorses the NFT project and that the family will continue producing NFTs. The lawyer for the Picasso Administration told the Associated Press that only Claude can approve the NFT project as an official Pablo Picasso NFT project but not it appears that the possibility of selling more is back on the table.

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