Three sculptures created by the internationally renowned Swiss artist David Pflugi are being tokenized. The sculptures were created as part of Pflugi’s Victory Works series to mark the previous three men’s football world cups in 2010 in South Africa, 2014 in Brazil, and 2018 in Russia. The sculptures bear the signatures of all the players from the finalists in these respective years, including the managers as well.
Starting in April 2022, the first tranche of 6,000 Art Security Tokens (AST) will be made exclusively available to the professional and institutional clients of Sygnum Bank, further details of which can be found in a press release issued by the Zurich-based bank. These are to be offered via the tokenization platform Desygnate, which is operated by Sygnum, and the initial total value of all ASTs amounts to 6 million Swiss francs.
According to the press release, the investment horizon is two to three years. After this period, the three Pflugi artworks are to be sold at auction. All AST holders will receive a share of the proceeds in accordance with the number of tokens that they own. The press release further explains that Victory Works intends to donate 20 percent of the proceeds to charitable organizations supporting children in developing countries.
David Pflugi is of the view that “the tokenization movement will bring to the world a new perspective of art ownership and investment, opening up access to this market to a broader set of investors”. According to Fatmire Bekiri, Head Tokenization at Sygnum Bank, the creation of “unique investment opportunities in artworks” represents a core element of “the overall vision of Sygnum’s tokenization business”.
