The Rise of RWA: Warhol Painting Pre-sold by 10101.art Available at Partner Exhibition in Dubai 

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Another step has been taken towards revolutionizing the art market through blockchain solutions. 10101.art, an art ecosystem allowing individuals to become co-owners of the real physical masterpieces, has partnered up with Art For All – the UAE’s hub to arts and culture – the ecosystem is lending its Andy Warhol’s “Campbell’s Soup Cans II: Scotch Broth 55” painting to showcase it at “The Glam Factory” exhibition.

The exhibition is held at Foundry – a space to exchange ideas and present contemporary art projects in the heart of Dubai. However, the partnership between 10101.art and Art For All is more than just an exhibition. It’s a chance for 10101.art to democratize art ownership through a new concept of art tokenization. By creating digital representations of physical artworks on a blockchain, 10101.art is breaking down barriers to high-value art ownership. The project scans physical paintings on a blockchain, then divides it into numerous pieces represented as tokens, each holding unique ownership rights. Thus, individuals are purchasing not only parts of a masterpiece but legal rights to own it.

So, Warhol’s piece has already undergone first selling stages on 10101.art. The last one ended in May 2024 with a final price of $250 each 2x2cm piece. The next selling stage is to be announced soon.

10101.art’s strategic alliance with Art For All underscores its commitment to bridging the gap between the physical and digital art markets. By showcasing real-world assets (RWAs) like the Warhol masterpiece within established exhibitions and galleries, 10101.art directly engages with art collectors and enthusiasts from the traditional market, demonstrating new ownership opportunities. The Art For All partnership is a significant milestone, paving the way for future collaborations that will expand the reach of RWA tokenization and introduce a wider audience to the possibilities of collective art ownership.

Alina Krot, CEO of 10101.art, commented:

“These institutions, such as Art For All, are more open to new challenges than we might think. They’re eager to embrace the future and connect with a web-savvy generation. All they need is the right tools. 10101.art provides that path, and this partnership is just the beginning of many exciting collaborations that will transform the global art market.”

Currently real-world assets (RWAs) are emerging as a powerful catalyst, bridging the gap between traditional markets and the digital realm. Collaborations like the one between 10101.art and art institutions like Art For All are accelerating this transition. By enabling the tokenization of real-world assets, Web3 platforms are democratizing access to exclusive opportunities, empowering a broader audience to participate in the art market.

About 10101.art

10101.art is a leading-edge art ecosystem that allows individuals to become co-owners of renowned masterpieces by Dalí, Warhol, Picasso, Banksy and others.

10101.art’s collection of original physical paintings is available at Monada Art Gallery located in the Ritz Carlton DIFC, Dubai. Apart from Warhol’s “Soup Cans”, the place boasts other world-renowned paintings, such as “Turf War” by Banksy, “Portrait of Dora Maar” by Picasso, Dali’s “Tree Man with Flayed Heart” and more.

About Art For All

In 2002, Rania Ashur founded Art For All, driven by a desire to deliver exceptional family entertainment experiences to Dubai and beyond. The team collaborated with renowned international theatre production companies to bring these experiences to life. This year, Rania and the team brought Andy Warhol to Dubai for the first time and threw “The Glam Factory” exhibition, curated by Nada Ghandour, Doctor in History of Art and expert in modern and contemporary art.

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