Andy Warhol's Artworks Are Being Sold As NFTs: Report

Multiple artworks created by Andy Warhol — arguably one of the most famous artists of the pop art movement — are about to become non-fungible tokens (NFTs).

What Happened: At least three artworks by Warhol are being tokenized and sold as NFTs starting Dec. 4, according to a Thursday Barron's report.

The platform facilitating the sale will be Budja.io and the NFTs will be hosted on the Cardano (CRYPTO: ADA) network.

The first artwork to be sold is a Campbell Soup silk-screen on a T-shirt from 1982, priced at $125,000; the second is an “Art” T-shirt from 1980, priced at $95,000; and the third will be a silk-screen of a Volkswagen Beetle on a canvas from 1977, priced at $600,000.

Rudolf Budja, the Austrian gallery owner who is selling the NFTs, said the firm is "creating tokens that represent real art" and it plans "to make an NFT for every art piece.” 

The NFTs will represent fractional ownership of the artwork in question with each being worth 1/1,000 of the piece. Budja is selling only 499 tokens per artwork to effectively maintain control over the piece through the ownership of a majority stake. One-thousandth of the ownership of the Campbell Soup silk screen costs 85 Cardano (just under $150); the "Art" T-shirt, 65 Cardano (under $114) and the Volkswagen silk-screen, 415 Cardano ($727).

The report follows Campbell's Soup Company (NYSE: CPB) redesigning its soup cans and launching an NFT collection designed by artist Sophia Chang to celebrate the changes to the iconic red-and-white soup label.

Photo by Jon Tyson on Unsplash