Scarletbox’s Joya x Baldovino NFT First-Ever NFT Sold at Leon Gallery

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Editing by Nathaniel Cajuday

Non-fungible tokens (NFT) are no longer just for the digital scene as Scarletbox, a bluechip NFT launchpad, successfully sold its Joya x Baldovino NFT at the recently held Leon Gallery Auction last October 21 to 23, 2022 for ₱122,640.00, inclusive of buyer’s premium.

SOLD. Jose Joya x Andre Baldovino NFT is the first NFT to be sold in the country’s largest auction house.

Leon Gallery, one of the largest art auction houses in the Philippines, has been successfully selling blue chip art, traditional fine arts, contemporary art, and antiques for the last 32 years, and Scarletbox’s NFT is the first NFT accepted to be auctioned in the gallery.

The NFT that was sold is the One-on-One Joya x Baldovino NFT (Artwork #105) from the ScarletBox treasury. It is part of the 2 Legends x 2 Generation collection, which consists of the artworks of two national artists, Abdulmari Imao and Jose Joya, continued by their younger generation counterparts, and was released last March.

And while it was minted during the bull market, the NFT definitely appreciated in value in this sale–a rare occurrence during these bear months. (Read more: ScarletBox: Own The Works of Philippine National Artists Imao and Joya Through NFTs )

Leon Gallery describes the work:

Among the works is a collaborative piece that features the works of Jose Joya and Andre Baldovino! This chosen piece by Andre Baldovino is considered as one of the masterpieces that are part of this collection. Joya’s black and white painting is fused together with Baldovino’s blue and turquoise work. The animation of this piece is reminiscent of how light folds when they hit water. Truly one of a kind with 2 generations in one work.

According to Scarletbox, the NFT’s display in the auction aims to attract traditional collectors to the NFT industry: 

“Scarletbox wanted to give a chance to traditional collectors to partake in this special collection of blue chip National Artists’ NFTs, thus submitting it to the Leon Gallery’s Auction for consideration. None of the current Scarletbox collectors are selling in the secondary market, all are keeping their Founder’s NFTs (Joya and Imao).”

Joya and Imao are not the only national artists in the Scarletbox treasury, as the launchpad is set to release another art icon next month—the long-awaited collection of profile pictures (PFP) NFTs of Philippine national artist and cartoonist Larry Alcala will be launched in November. Larry Alcala’s Collection will start its private sale around the second week of November; interested collectors may sign up here. (Read more: Scarletbox to Launch Larry Alcala’s Set of Profile Picture NFTs)

The Larry Alcala PFP was first revealed last September as a tribute to the late National Artist. Scarletbox highlighted that he is ”a true symbol of Pinoy Pop Culture and was also awarded the Grand Collar of the Order of National Artists.” 

A special GIFT for all Larry Alcala minters is a Personalized Premium Notebook with a Certificate of Authenticity (one per person).

Larry Alcala’s Collection will start its Private Sale around 2nd week of November, which readers can check here: https://cutt.ly/ScarletboxBitPinas

Previously, Leon Gallery teamed up with Union Bank of the Philippines (UnionBank) last July for a discussion to facilitate timely and relevant conversations on the convergence of traditional and NFT art. (Read more:  León Gallery taps UnionBank to Talk on Convergence of Traditional and NFT Art)

This article is published on BitPinas: Scarletbox’s Joya x Baldovino NFT First-Ever NFT Sold at Leon Gallery

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

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