Oleg Tselkov’s NFT “Head with Legs” To Be Sold as NFT

Published by
Oleg Tselkov’s NFT “Head with Legs” To Be Sold as NFT

Vilnius, Lithuania, 10th November, 2021, Chainwire

In an upcoming NFT auction taking place at November 12th, the oil painting “Head with Legs” by the prominent nonconformist Russian artist and painter of the post-war period, Oleg Tselkov, is being auctioned with a corresponding NFT.

Another painting by the artist, albeit a smaller one, will soon be auctioned by Sotheby’s and already has a starting bid of 110,000 GBP. While the previous post-war and contemporary Russian art September auction showed us that art investors are willing to pay higher prices than estimated price for Oleg Tselkov’s work. At this time there are just 2 days left to claim the painting, the bids at superhow.art are still open until the 12th of November.

NFT – Another way to invest in fine art

As inflation is hitting record highs and crypto investments are still viewed with a fear of volatility, alternative investments such as art, wine, and NFT’s are booming. This auction highlights the unification of two trending investment asset classes – a long-time performer – fine art and the new, explosive NFT class.

Fine art as an asset class is renowned for its high risk and reward ratio. An art asset such as Oleg Tselkov’s painting being auctioned as an NFT may provide the ability to enjoy an exciting value proposition for a whole new investor class.

Competition with a twist: Whales vs. Shrimps

During the auction, superhow.ART are hosting an experimental competition between big investors and the enthusiast community to see who has more power in their hands. 

Organizers have introduced two bidding sides: Whales and Shrimps. All bids placed by the Shrimps are accumulated into a pool, which will compete with the Whales’ individual bids. If a Whale wins, they get the physical painting, and the corresponding NFT is assigned to them. 

If the Shrimps win, the NFT will be split into multiple parts that correspond to the Shrimp bids and assigned to their wallet addresses. The painting will remain in the gallery but will become co-owned. 

“We want to check if whales are stronger than the community. Maybe the community will show that small market players with joint forces can win and become fractional owners of this beautiful investment asset,” explains Vytautas Kašėta, the CEO of superhow.ART.

Things to note

This type of auction format, Whales vs. Shrimps, is the first of its kind; thus, it remains to be seen how it performs.

The project has been developed by long time blockchain development experts at SUPER HOW? who previously worked with the National bank of Lithuania and other high profile blockchain projects.

As Ethereum gas fees are high, it remains to be seen if it will become a competition only for “whales” who want to own the whole NFT and are less concerned with the gas prices or if “shrimps” see the value proposition and will band together to win against the big players.

In the digital world, where everything can be copied, the rightful ownership and authenticity of the artwork as well as the NFTs certificate defines the great success. A single piece of artwork, when bonded with an NFT, is unique and metadata can’t be misused without notice and transparency. Digital certificate must be approved and signed off by fine art industry experts, like Arty Cube gallery for Oleg Tselkov in the case of “Head with Legs” fractional NFTs.

About SUPER HOW?

Super HOW is a Lithuanian private research and development lab that is Focused on Blockchain and Distributed ledger technologies. Previous work includes working with the central bank of Lithuania to develop LBCOIN the world’s first blockchain-based digital collector coin.

Contacts

CEO of superhow.ART

  • Vytautas Kašėta
  • SUPER HOW?
  • info@superhow.art
  • +37068986759
Advertisement

Share
Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Bitcoin News

U.S. Treasury To Ease Tax Rule on Unrealized Bitcoin Gains, Aiding Saylor’s Strategy

The U.S. Treasury and IRS have released an interim guidance, which highlights plans to ease…

October 1, 2025
  • 24/7 Cryptocurrency News

Trump-Backed World Liberty (WLFI) Plans RWA Tokenization Paired with USD1 Stablecoin

Trump Family's World Liberty Financial has unveiled big real-world asset (RWA) tokenization plans on Wednesday,…

October 1, 2025
  • 24/7 Cryptocurrency News

Stripe Eyes U.S. Banking Charter, Pioneers One-Click Stablecoin Issuance for Firms

Fintech giant Stripe has unveiled a suite of tools to enable businesses to tap into…

October 1, 2025
  • 24/7 Cryptocurrency News

Breaking: Metaplanet Expands Treasury With 5,268 BTC Purchase, Climbs to 4th Largest Holder

Metaplanet has expanded its Bitcoin portfolio with another purchase. The Tokyo-listed firm is now the…

October 1, 2025
  • Bitcoin News

BREAKING: Nasdaq Files with US SEC to List BlackRock Bitcoin Premium Income ETF

Nasdaq has officially filed to list and trade BlackRock iShares Bitcoin Premium Income ETF with…

October 1, 2025
  • 24/7 Cryptocurrency News

Mr Beast, Whales Buy ASTER Token Amid 20% Crash, What’s Next?

While the ASTER token has crashed 20% in the last 24 hours, to test the…

October 1, 2025