The first Fine Arts NFT collection in the country, showcasing the work of Juvenal Sansó, was sold out at a special dinner by Artifract, an arts NFT platform developed by UBx and operated by Unit 256.
Fundacion Sanso, a non-profit organization that exhibits the works of the globally famous painter Juvenal Sanso, expressed its excitement about this collaboration to safeguard the integrity and security of all Fundacion Sanso paintings for future preservation.
The event also hosted a private auction. It has sold out, selling off Juvenal Sansó's NFT collection listing Serendipitous Visions and Flower Vendor to various art collectors. The following auction will presumably be conducted in October 2022.
"We in the foundation believe that NFTs are the latest and one of the most promising art platforms of today and the future. It is a medium that many young, aspiring, and technologically-minded individuals and collectors can easily identify with," Fundacion Sanso said in a statement.
"We are happy and honored that Unit 256 chose as its first project artworks by Presidential Medal of Merit Awardee Juvenal Sanso," it added.
Artifract, a forerunner in fine arts NFT in Asia, aims to help art estates, museums, private collectors, and artists preserve fine arts by securing the copyright of each piece and ensuring the continued viability of these collections through the utilization of blockchain technology.
Unit 256, an art-tech venture that aspires to make Philippine Arts accessible and help institutions in art preservation, and the company that manages Artifract have announced their plan to launch Juvenal Sansó's Fine Arts NFT collection in September 2022.
"We intended to make a private dinner to feel the art community's response to the technology we are introducing with UBx. We did not expect such a warm reception, selling out tiles of the initial Sansó masterpieces," Unit 256 stated.
"With such successful precedent, the Artifract team looks forward to launching publicly this September 2022. We are also excited to share that soon enough, and we will be launching partnerships with more Philippine Masters."
John Januszczak, president and CEO of UBx, the leading open finance platform in the Philippines, has likewise expressed appreciation for the growing partnership.
"It is not just about digital, and it's not just about NFTs. It is about unlocking the value of these works of art so we can enable organizations like Fundacion Sanso, the galleries, and the museums to further the cause of fine art in the Philippines, " he said.
Fundacion Sanso, under the leadership of Chairman Joaquin M. Teotico, Managing Director Ricky Francisco, and the founders of Unit 256, Brian Poe Llamanzares, Marvin Agustin, Stephanie Oller, Edison Tsai, and Magellan Fetalino, inked the partnership agreement in July of 2022.
"This event of launching NFTs of several of Sanso's seminal works can only give us great pride and joy. We offer our best wishes for a very successful launch, and may Unit 256 be blessed with even more successful projects in the coming years," Fundacion Sanso stated.
