Lio Faridani has been painting on canvas in various forms for nearly 70 of his 79-years on this planet. His works have, in fact, sold to aficionados and collectors around the world and received accolades at many an exhibition. Now the artist is proving that age is indeed a state of mind by making his entire collection available via NFTs – a promising new funding model for art and media.
NF what? To put it simply, an NFT is a digital asset. It is encrypted with the artist’s signature on a digital ledger (aka the blockchain) which is at the heart of all cryptocurrencies – with probably the most recognized being bitcoin. NFTs allow buyers and sellers to verify authenticity and ownership to ensure a buyer has the original art. Maybe most notable though is that NFTs are predicted to increase the profitability of artworks for collectors and artists alike. Just look at the numbers. NFT markets have seen trading volume growth from $12 million in December to $342 million last month.
For his part, Faridani, with a little help from his son, who is CEO of an online media solutions agency, has digitally minted all of his artwork, which is now broadly available to the crypto-community – and beyond. And he has taken it one step further. Each buyer receives not only the NFT but also the physical painting, which is delivered right to their door.
“I have always embraced innovation but have also learned a thing or two about the importance of traditional methods over the past seven decades. That is why I am including the physical works as a component of my NFT sales. It is important to me that my clients have the actual original that they can touch and feel along with the NFT,” said Faridani. “I find it truly exciting that I am now combining both realms and can count myself as an early adopter of digital art sales.”
Born in 1942, Faridani is self-taught. His wide-ranging portfolio comprises various mediums from sketches to watercolors to acrylics and oils in styles ranging from abstract to realism and is especially known for his majestic over-sized pieces. His art can be found in collections around the world including Canada, Italy, Switzerland, the United States, and the United Kingdom.
“Modernization is making art in all its iterations more available to the general public. I fully believe that NFTs will have a monumental impact on the art world by cultivating an entirely new audience of enthusiasts,” he added.