Total Bids Placed:

Auction has expired

Highest bidder was: E0F5C3

Bidder Name Bidding Time Bid Auto
E0F5C3 December 12, 2021 5:25 pm $206,000
LotJonn December 12, 2021 5:24 pm $200,000
E0F5C3 December 12, 2021 5:23 pm $180,000
LotJonn December 12, 2021 5:18 pm $150,000
Auction started December 12, 2021 5:11 pm

Introduction

Introducing the Warning Sign NFT. A NFT re-elaboration and digitization of one of Banksy’s most critically important and politically charged artworks, commemorating September 11.

Given that Warning Sign is one of Banksy’s most critically important and politically charged works of art, we wanted to create a whole new level of access and democratization so that other people could also enjoy the work. We want everyone to be able to participate – whether they have traditional art knowledge or crypto knowledge – so they can experience art and NFTs in a brand new way.


NFT Details:
Warning Sign, 2021
Non-fungible token, NFT (MP4)
Edition: 1/1

COLLECTION: BANKSY WARNING SIGN
ORIGINAL RESOLUTION: 3840 x 2160 pixels
TOOLS USED: Photogrammetry, Blender, After Affects
FILE SIZE: 81,809,726 bytes

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The Offering

• We are giving one lucky bidder the opportunity to purchase the 1/1 Warning Sign NFT.

• The holder of the Banksy Warning Sign NFT will also receive a 5% equity share in the original artwork titled ‘Banksy, Warning Sign, 2006’. This is reflected in the smart contract embedded within the NFT. The smart contract specifies that the current owner of the Banksy Warning Sign NFT will also hold a 5% equity share in the original artwork titled ‘Warning Sign, 2006’. This structure is documented and stored in the blockchain in perpetuity, and has also been independently vetted and verified by Opensea. You can see the Gloss verification here: https://opensea.io/GlossNFTs. The original artwork titled ‘Banksy, Warning Sign, 2006’ has been independently valued at USD $2,000,000 – USD $3,000,000. This combination of NFT and ‘real world’ utility is a world first offering in the NFT art space, and will enmesh the physical art world with the digital artwork.

• A percentage of the proceeds from the sale of the Banksy Warning Sign NFT will be donated to the Fire Department New York Foundation. They represent the New York firefighters who were the first responders on 9/11.

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The Specifics

We have created an NFT that is a re-elaboration and digitization of the original work we own. It is an installation comprising of a CGI video production that we created with our team of artists. The work was created using photogrammetry to take scans of the original work. These scans replicate the original work and create a digital twin which will be contained in the blockchain for all perpetuity in the form of an NFT. This enables us to time capsule one of Banksy’s greatest works of art in digital format.

It is the 20th anniversary of September 11, 2001 this year, so we wanted to observe and remember this tragic event in a different way.

The NFT opens with an image of the Warning Sign artwork, which was once a ‘roads diverging’ traffic sign. Banksy modified this image to create 2 vertical lines, representing the Twin Towers of NYC. Banksy then added a stencil of a small plane to the left of the vertical lines, representing the planes that were deliberately flown into the Twin Towers on 9/11. This act of terrorism was intended to create terror throughout NYC, and take away the country’s innocence. Ultimately, the terrorists were unsuccessful in this mission, as NYC and the rest of the country came together to become a stronger and more united people.

Our NFT symbolises this solidarity in a visual way – as the sign completes its 360 degree rotation, the plane to the left of the building disappears, and a flock of doves fly in an upward direction from the buildings. Each dove has its own unique flight pattern as it leaves the building, representing the uniqueness and individuality of each of the lives lost.

The NFT modifies the original meaning behind Banksy’s famous artwork by providing an alternate ending – transforming what is a challenging image into a symbol of peace, hope and forgiveness.

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The Original Artwork

Banksy, Warning Sign, 2006
Signed on verso
Spray enamel on street sign
80 x 80cm. Attached to metal pole which is 231cm in height
Executed in 2006
Provenance: Comes with a certificate from Pest Control.

This work was widely exhibited in Steve Lazarides’ The Art of Banksy touring exhibition during 2016 and early 2017

Press

Recent Auctions - Love is in the Bin

Undermining the establishment has always been at the heart of Banksy’s work, indeed, taking the artworld down a peg or two has particular currency in his imagery and ideology. It should therefore have come as no surprise that Banksy would mastermind perhaps the most extraordinary and elaborate feat of artistic subterfuge in recent history: the moment Girl with Balloon ‘self-destructed’ at Sotheby’s Contemporary Art Evening Auction on 5th October 2018. But of course, this wasn’t an act of destruction, it was a moment of creation – a metamorphosis that transformed Banksy’s Girl with Balloon into an entirely new work of art that, in the words of BBC Arts Editor Will Gompetz, “will come to be seen as one of the most significant artworks of the early 21st Century” (Will Gompertz, ‘Will Gompertz on Banksy’s Love is in the Bin’, BBC News, 13 October 2018, online).

• Sold For - USD$25 Million (GBP18.5M) - a record high price for Banksy

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