A rare sculpture created by the late Swiss artist H.R. Giger, known for his work on the cult science fiction film Alien, will be available for purchase as a fractionalized digital artwork. The sale will be conducted by the blockchain-based art platform Particle.
The sculpture, named “Necronom/Alien III, 2005,” is part of a collection of six statues, with this particular piece being the only one made by Giger himself. Valued at over $240,000, Particle has divided its ownership into 500 digital “particles,” which will be sold as non-fungible tokens (NFTs), representing a 1/500th stake each. The NFTs will be available for purchase on June 16 at a price of $1,000 per token.
Owners of fractions of the sculpture will have the ability to vote on whether to sell the physical artwork if an offer is received. This democratic approach empowers the fractional owners to collectively make decisions regarding the sculpture’s fate.
Particle gained attention previously for tokenizing and fractionalizing a Banksy painting called “Love is in the Air,” which was acquired at a Sotheby’s auction in March 2021 for $12.9 million. The platform created 10,000 “Love” particles, sold as NFTs for $1,500 each. Since then, the particle values have decreased to a floor price of approximately $500. Participants who own “Love is in the Air” particles will receive a $200 discount on their purchase of the Alien NFTs.
The Giger sculpture, made from steel and polyester resin, stands over seven feet long and three feet tall. It will be exhibited through Particle’s ownership in collaboration with the H.R. Giger Museum in Lisbon from June 7 to 8. Subsequently, it will be displayed at the Hluboka Castle in Prague as part of a Giger-focused exhibition, followed by appearances at Art Basel in Switzerland and an undisclosed location in Paris.
Particle’s CEO, Harold Eytan, expressed the intention to expand the reach of Giger’s artistic legacy by tokenizing and selling this iconic ‘Alien’ design. Eytan believes that art, film, and music transcend borders and boundaries, and Giger’s profound exploration of the human psyche through art encapsulates this truth.
The tokenization of artworks through blockchain technology offers various advantages. Fractional ownership enables more individuals to participate in the art market, while tokenization creates new investment opportunities centered around the value of the artwork. Fractional ownership also enhances liquidity in the art market, allowing owners to sell fractions of their artwork for liquidity without selling the entire piece, making ownership more flexible and transferable.