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NFT Artwork 154 Million Dollar All Time Blockchain Record Breaker

Forbes NFT

It absolutely beyond dispute that Art Abstract Expressionism Artist UK is now one of the best and one of the most famous top recommended NFT art blogs in history concerning NFT tokens and the Blockchain, Cryptocurrency, Web3 and of course the Metaverse itself in totality.

The above painting titled Affectionate Lady is in our view one of the most desirable and most valuable potential future NFTs in the time span of the NFT marketplace, both now and probably for many decades to come too.

We estimate this particular potential future NFT artwork Affectionate Lady to fetch 154 million dollars by 2028.

NFTs were first created in 2015, and have since only continued to increase in volume, value, and uses.

While they may go through bubbles, they are not going away.

Just like each new technology, they may initially seem complex, unnecessary, and perhaps even silly. 

Looking back, however, websites, email lists, and Instagram may have also seemed similar.

As a professional artist, the chances are you now realize the value of these digital tools for your art career.

As a fine artist, NFTs offer an opportunity to add to your creative toolkit, add a revenue stream, and stand out from the crowd.

NFT art will move beyond the speculative frenzy of its early days to more everyday double-digit growth.

All the major auction houses continuing to sell NFTs will only further future ambitious NFT sales such as the above artwork Affectionate Lady which we hope will sell for 154 million dollars by 2028.

It seems that NFTs are already realising some of their potential to change the artworld.

Some celebrated digital artists are already becoming very rich as a result.

Certainly the possibility of owning, selling and copywriting digital artworks is very appealing to many digital artists – and their fans.

NFTs have a long and fascinating history that spans decades.

The concept of NFTs can be traced back to the 1990s when the first digital collectables were created and traded, in particular the Chron X and Sanctum digital collectable card games, which were released in 1997 and 1998. respectively. 

These digital items were initially stored on centralised servers and users did not own actual copies of the collectibles, instead they owned the medium (i.e, the game) on which the collectible was presented.

However, not everyone is so enthusiastic. Anil Dash warns that “the current NFT market is drawing an extraordinary range of grifters and spammers.

People are creating NFTs of artists’ works without asking permission or even letting the artists know.”

Other industry insiders worry that the trend has very little to do with supporting digital artists and more to do with creating another convenient space in which high-net-worth tech entrepreneurs can invest their wealth.

The Washington Post warns that, “Since the market for NFTs was essentially created by cryptocurrency entrepreneurs, and since they’re still the ones sustaining it, you can’t really understand the NFT craze without contemplating their wider designs.

In a sense, they’re using art works as test cases for how information and assets will be treated in the rapidly evolving blockchain space.

Exclusive Interview with Renowned Senior Expert Artworks Conservator & Restorer Venizelos G. Gavrilakis | Part 1

© Venis Studios

In 2012, Venizelos G. Gavrilakis, Senior Expert Artworks Conservator and Restorer, with specialization in paintings, icons, antiques, and works of art, along with his wife, Vaia A. Karagianni, also a Conservator and Restorer, founded “Ieri Parakatathiki Labs,” a conservation and restoration laboratory for old works of fine art, based Istanbul. In 2022, they renamed their laboratory “VENIS STUDIOS” and expanded to Greece, Cyprus, Jordan and other countries.

VENIS STUDIOS is a company that undertakes conservation and restoration projects of all fixed and portable works of art such as paintings, icon panels, artworks, antiques, historical monuments, etc., in Greece, Turkey, Cyprus, Jordan, United States, and many other nations. Its purpose is to save artifacts and artworks by combining science with art. Recently, The World Art News had the pleasure to interview its President, Venizelos G. Gavrilakis, who shared with us fascinating images, stories, and facts about his unique art career. Here’s Part 1 of that conversation.

© Venis Studios

What is your professional art background and what inspired you to become a restorer? 

Since I was a child, I was always involved with art by creating, learning, or repairing art objects. I was always interested in history, ancient civilizations, and cultural heritage. Archeology and architecture were my “dream jobs” as a child. When I was finishing high school I had an important discussion with an old family friend about my future. My friend told me that a job in art conservation and restoration could be a good career choice for me. These words stuck with me and I never forgot them. It was the beginning of my inspiration to become a professional art restorer.

What are some of your most notable restoration projects?  

The three most notable restoration and conservation projects of my career so far are:

  1. A Fayum Mummy Portrait from the 2nd – 3rd century BC.
  2. The discovery of a unique 14th century Byzantine Icon (circa 1350+) 
  3. The discovery of an authentic Ivan Aivazovsky painting with his signature from the 19th century.
Fayum Mummy Portrait © Venis Studios

What are the most challenging projects you have worked on, and how did you overcome them? 

One of the most challenging and dimensionally largest projects was an altar dating from 1707 in Iviron Monastery in Mount Athos, Greece. The altar was 14 meters wide and 8-10 meters high. Together with another colleague conservator and restorer, I worked on it in 1999-2000. It was a gilded, wood-carved altar that was half covered with thick layers of oil paint that we had to remove and clean the authentic gilded surface. On the top parts of the altar the gilded surfaces were covered with thick oxidized varnishes and a lot of dust!

It took a year to finish, but the result was marvelous. From the beginning of the project, I knew what the final result would be. That is always the case regardless of the size or difficulties of an artwork. I always see how the artwork or monuments will be after conservation and restoration. This gives me the motivation to overcome all difficulties. 

Iviron Altar © Venis Studios

How do you approach a restoration project and what are the most common issues that you encounter when restoring art pieces? 

The approach to any art conservation and restoration project is always the same: respect the history, authenticity, and originality. At VENIS STUDIOS, our basic principle is a combination of science and art through the process of conservation and restoration. In practice, there is a standard method that we always follow:

  1. Examination & Research
  2. Documentation
  3. Conservation Treatment
  4. Restoration
  5. Preventive Conservation

Is art restoration expensive and is there a lot of demand for it? 

The price of art conservation and restoration its always different according level of difficulty, level of experts and assistants, time, materials, examinations, etc. Artwork restoration and conservation projects require expertise and a deep understanding of the artwork’s problems. 

How long did it take you to achieve financial success and is it hard to run a profitable restoration business? 

All my life! Very hard work to this very day! To be among the best isn’t easy at all. It requires a lot of time to constantly improve our standards and quality of work. Insistence to detail and being a perfectionist are vital. Our success is not related to profit but to continuously upgrading our high scientific standards and the quality of our work. That’s why we give a “lifetime warranty” on all our restorations. 

Who are your clients and who do you work with the most: museums, galleries, or private collectors? 

My clients come from all over the world. I collaborate with the Greek Orthodox Patriarchate in Istanbul, the Greek Orthodox Archdiocese of America, museums, private galleries, auctions houses, private collectors, and many others. Wherever in the world is requested, we are there – no matter how far. We are a global company. We are based in Istanbul, but have departments in other countries such as Greece, Cyprus, and Jordan.

© Venis Studios

What museums have you worked with and what have you restored for them?  

I have worked with Greek museum like the Cappadocian Studies Center , The Αrchbishop Μuseum of Alexandroupolis, cultural associations, and private museums in Istanbul and Greece. We mostly worked on icons and paintings for these museums.

Are there any professional, ethical, or legal standards that regulate art restorers? 

Yes, of course, one of the oldest is “The Rome Conservation Charter,” published in 1972 (it has been updated since). There are also other official codices for conservation and restoration, dictating what materials we should use.


Part 2 is Coming Soon!



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