Wolfgang Beltracchi Dropping The Greats as NFT’s
One of history’s most well known art forgers, Wolfgang Beltracchi, has entered the world of non-fungible tokens. Beltracchi has established a new project dubbed “The Greats” on the Ethereum blockchain, which comprises of 4,608 NFTs. The artworks reproduce Salvator Mundi, the world’s most expensive painting and one of the most contentious. The infamous artwork is said to have been painted by Leonardo da Vinci (about 1490–1500), and sold at Christie’s for a record price of $450 million in 2017.
Throughout his three-decade career, Beltracchi has re-created great paintings in the form of forgery, which means he has re-created works of famous artists and presented them as original paintings when they were not.
Between 1980 and 2011, Beltracchi defrauded the art world of an estimated €35 million. He was sentenced to six years in prison by German authorities in 2011, but he was released in early 2015 after serving just over three years. Helene, his wife, was sentenced to four years in prison as an accomplice.
Since his detention, museums, galleries, and auction houses have prohibited Beltracchi from exhibiting and selling his paintings. The 70-year-old artist’s attention has now switched to the NFT gallery.
In recent statements Beltracchi is quoted as saying, “The NFT market provides artists with a platform to advertise themselves independently of established art market methods.”
According to statements, The Greats are arranging a “hidden sale.” Customers will have no notion what kind of NFT they’re getting as a result. To ensure the highest level of arbitrariness, The Greats claims to be using Chainlink’s Verified Random Function (VRF), a verifiable source of randomness created for smart contracts. The purpose of using the Chainlink VRF, according to statements, is to ensure that NFT’s are not “exploited” by parties such as miners.