HABROOSH ART FOUNDATION TO SHARE NFT COLLECTION
THE FIRST FOUNDATION TO COLLECT NFTs IN THE REGION
The Habroosh Art Foundation has announced its decision to venture into the world of digital art with its first collection of non-fungible tokens (NFTs).
The Dubai-based foundation, which the first of its kind dedicated to an Emirati artist – Jamal HABROUSH AL SUWAIDI, key local and international artists, has been following the development of the NFT market closely and collecting works privately since 2019. Its team feel confident that the time is now right to formalise the collection, according to its Co-Founder, Nabil Sammer.
“We recognized that there was a degree of skepticism about NFTs early on among collectors and art enthusiasts who were more used to hung art in classical form, and so adopted a cautious approach ourselves, while observing the market’s development,” he said. “But the availability of new information and the integration of classical art into this new technology has prompted new levels of interest and convinced us of this exciting genre’s great potential.”
He added that on that note, Habroosh Art Foundation were delighted to announce that they were entering the fascinating and fast-developing NFT market, and offering clients the opportunity to make great investments in the emerging world of digital art.
Taking the form of digital assets, NFTs have become a major talking point in the art world in recent years due to several high-value and high-profile sales at auction.
Recent examples that have rocked the industry and confirm that digital art is a collectible to be taken seriously include Pak’s ‘The Switch’ and ‘The Pixel’, which sold for more than $1.4 million and $1.3 million respectively, and ‘Crossroads’, by Beeple (Mike Winkelmann), which fetched $6.6 million.
Sammer added that Habroosh Art Foundation remains focused on high quality, curated art by renowned artists working in the field, citing leading digital and NFT artists such as Pak, Beeple and Kenny Schachter, who lead the way in digital art and crypto media, as ones to watch.
“These are exciting times for the art world, with technology clearly set to play a major role in its growth story, as in so many areas of life,” he said. “We look forward to watching how these new digital tools are utilised by today’s talents and showcasing some of their creativity in our planned exhibitions.”