HomeNewsTrendsIndian art galleries join global frenzy for NFT artwork with new blockchain ventures

Indian art galleries join global frenzy for NFT artwork with new blockchain ventures

Non-fungible token-based artworks are now a global craze, but a silent revolution to rewrite rules in India's fledgling digital art market has already been underway. Several Indian artists have been dabbling in digital art for at least a decade.

March 18, 2021 / 15:25 IST
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Artist Ranbir Kaleka's digital artwork is exhibited as a mural in the lobby of The Ritz-Carlton, Pune.
Artist Ranbir Kaleka's digital artwork is exhibited as a mural in the lobby of The Ritz-Carlton, Pune.

When The Ritz-Carlton wanted to open its new hotel in Pune more than a year ago, the luxury hotel chain commissioned artist Ranbir Kaleka for a mural in the lobby. The work, which has won praise from celebrities like Shobhaa De and Kabir Bedi, interestingly hides the pictures of the hotel owners and that of the artist himself.

"The owners sent their photographs by email and I manipulated them digitally with thousands of photoshop layers to make the mural," says Kaleka, one of India's finest artists. The fantasy digital collage, printed on a large canvas, contains pictures of Pune's architectural landmarks and one of the first ships to arrive in Mumbai from England reflecting Maharashtra's history.

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Artworks based on non-fungible tokens (NFTs) have exploded in popularity in recent months, selling for millions of dollars and opening lucrative opportunities for artists.  “Everydays - The First 5000 Days”, a digital work by American artist Mike Winkelmann, known as Beeple, sold for nearly $70 million at Christie’s last week, in the first ever sale by a major auction house of a piece of art that does not exist in physical form.

A Decade-Old Story