The collection features 1,000 Radar Rats NFTs that can be burned at any time for redemption of an authenticated Walled Off Hotel Box Set by Banksy.
SAN FRANCISCO – AUGUST 23, 2022 – Magic Eden, the leading community-centric NFT marketplace and international art collective LCD Lab, today unveiled a collaboration around the Banksy Walled Off Hotel Box Set to be sold exclusively on Magic Eden marketplace.
In September, collectors will get the chance to purchase one of 1,000 Banksy-inspired Radar Rats NFTs that can be burned at any time to receive an authenticated Banksy Walled Off Hotel Box Set, free of charge. The collection features hand-painted prints by Banksy’s team housed inside a little white box frame that were sold to the clients of the Banksy Walled Off Hotel in Bethlehem, Palestine, between 2017 and 2019.
The Radar Rats NFT collection can be minted through Magic Eden and sold via Magic Eden’s launchpad on the Solana blockchain. Every NFT in the collection will be backed one-to-one by a physical genesis collection of 1,000 Banksy Walled Off Hotel Box Sets acquired and secured by LCD Lab.
“By introducing the legendary art of Banksy into the NFT world and piloting a unique burn mechanism in which an NFT can be redeemed for a physical art piece, we are reaching a community of passionate NFT collectors who are expressing greater demand for fine art.”Jack Lu, CEO of Magic Eden
The milestone drop marks one of the first times that digital and physical art have been directly connected within the art market. This bonding mechanism will lead to greater liquidity of the physical art collection and expand access to encompass fine art and NFT collectors, playing into both the digital and physical collector worlds.
“With this project, we hope to onboard a brand new audience to the art market, making it more accessible and fun. We are starting with Banksy, but our vision is to have a mix of upcoming and well-established artist sales for the months to come.” said Baptiste Ozenne, gallerist of LCD Lab.
Throughout the duration of the sale, 10% of the profits will be shared with the Banksy Walled Off Hotel to organize an urban art festival in Bethlehem and reward the art community.
This collection is brought to life by LCD Lab, a collective led by artist Leo Caillard and gallerist Baptiste Ozenne, a recognized industry leader in art tokenization. LCD Lab’s mission is to use NFT technology to democratize access to fine art for the entire market.
For more information, please visit: https://banksy-nft.xyz
About Magic Eden
Magic Eden is the leading community-centric NFT marketplace driving the next billion users to Web3. Led by former crypto, tech, and hospitality leaders, Magic Eden is building a user-friendly platform powered by market-leading minting and trading solutions. Magic Eden brings dynamic cultural moments onto the blockchain, empowering users across thousands of digital communities to create, discover and collect unique NFTs. For more information, please visit www.magiceden.io.
About LCD Lab
LCD Lab is a collective formed around Leo Caillard, a French multidisciplinary artist, and Baptiste Ozenne, an art collector, who aims to merge fine art and NFTs. Caillard and Ozenne believe a digital art renaissance is happening and are taking the steps to become pioneers in the space. Before Banksy, Radar Rats LCD Lab launched and sold out their genesis profile picture collection, The Stone Heads.