Art dealer Vito Schanbel and renowned entrepreneur Gary Vaynerchuk have teamed up to launch ArtOfficial, an auction platform for NFTs by established names.
ArtOfficial was launched on Friday with the inaugural auction of Milarepa’s Dream by Francesco Clemente. The NFT depicts an image of a heart that is pierced by a white flag. What’s peculiar about ArtOfficial is the claim of their founders to add ‘special perks’ for all their buyers. For instance, the buyer of the Clemente work also got an opportunity to get their portrait painted by the artist within a year.
The idea of ArtOfficial was formed only in late 2020. Gary Vaynerchuk and Schanbel both realized the potential of the platform that could provide great opportunities for artists in the NFT genre. Schanbel further added that the platform is not just for selling artworks but also for fostering them. In that regard, ArtOfficial joins other platforms like OpenSea and Foundation that host their own curated selected of NFT artworks from artists.
Schanbel maintains that their platform would be “more selective” than other platforms. While some NFT auction sites try to give a platform to upcoming artists, ArtOfficial has made it clear that they would only place their bets on established names. In the coming months, the platform is supposed to sell NFT works from artists like Robert Nava, Ariana Papademetropoulos, Jordan Kerwick, Spencer Lewis, and Gus Van Sant. Most of these artists are represented by Schanbel’s own gallery.
While ArtOfficial is definitely a welcome addition, it can expect to see fierce competition in the ever-growing NFT space. Many renowned institutions like Pace have launched their own platforms to host and sell NFT works. Auction houses like Christie’s are encouraging artists to sell NFTs of their works. It will be interesting to see how the new NFT platform fares amidst competition.