When internationally noted artist Lio Faridani made his portfolio of watercolors, acrylics, oils and sketches available to the public recently via NFT, he found himself in a quandary. The 79-year-old artist was already sold on digitally minting his work, however, he felt providing the physical piece to his clients was equally important. So rather than opting for one over the other, he provides both. And that has sent sales soaring.
In fact, in the first 12 hours of launching his NFT collection, Faridani sold three paintings – which the buyer attributed to the appeal of receiving dual-medium originals. Afterall, Faridani’s customers each receive their NFT immediately and the painting itself within a week. Just six pieces in his anthology are excluded from this arrangement and offered as “NFT-only.”
“NFTs are an exciting means of expanding access to the arts to entirely new audiences. I immediately wanted to ride that wave, yet at the same time, I believe people should know the joy of touching and feeling the unique piece they choose,” said Faridani, who has been painting and drawing professionally for 60+ years. “My clients do not have to choose one over another. I give them the best of both worlds. And they truly appreciate it.”
Faridani is a self-taught artist whose body of work encompasses various mediums and styles – yet his breath-taking over-sized pieces have long set him apart. Various samples of his work are found in private and public collections around the world including Canada, Italy, Switzerland, the United States and United Kingdom. And NFTs are taking his reach next level.
An NFT – or Non-Fungible Token – is essentially a piece of data that verifies ownership of a digital asset. NFTs have recently taken the art world by storm – proving to be the most popular crypto trend of 2021 with the expected staying power that many cryptos have not shown. Some technology experts predict that use of blockchain to create scarcity for digital collectibles is a lasting innovation.
“My own NFTs are encrypted with my signature on a digital ledger. That allows buyers and sellers of my artworks to verify authenticity and ownership,” he explained. “I sometimes get kidded by family and friends that I am living proof you can teach an old dog new tricks. And I am here to tell you that is indeed a fact.”