Marina Picasso, the granddaughter of Pablo Picasso, released a statement on YouTube today in response to her and her adopted son Florian's
Ethereum NFT collection after a family feud became public. She stated her support for NFT technology in the video and revealed that her uncle, Claude Picasso, had now endorsed the initiative. Marina stated that she and Florian will "continue to make NFTs" in the future.
NFTs are one-of-a-kind tokens that exist on blockchain networks such as Ethereum or Solana to prove ownership of a digital or physical object. Each token in the Marina and Florian Picasso NFTs represents ownership of an.mp4 file of art inspired by one of Pablo Picasso's iconic works.
"I have a 30-year-old son who is obsessed with NFTs," Marina said through a translator in the video. "It piqued my interest, so I did some research and discovered that it's a modern technology that allows us to connect with art." It piqued my interest. And it was in this spirit that I and my son decided to launch our first NFT collection," she explained.
Since allegations revealed that Claude Picasso, president of the Picasso Administration, did not initially approve of the NFTs, their "Man and the Beat" collection has struggled to sell at its high mint price of 2 ETH each (approximately $5,800). Despite celebrity endorsements such as musician John Legend, the line has only sold a few times since its debut.
Decentralized marketplace Origin Protocol is still hosting the collection via a custom website. As of today, not much has changed since Decrypt first reported last week that only 10% of the collection had been sold.
“Unfortunately, our ideas weren’t communicated as they should have been, and in relation to certain members of my family that already had a difference of opinion, there was really a misunderstanding that didn't do anyone any good,” Marina said in the video. “I have the support of my uncle, Claude Picasso... he’s dedicated his life to protecting the legacy of my grandfather, his father,” she said.
Only Claude could authorize the NFT initiative as an official Pablo Picasso NFT project, according to a lawyer for the Picasso Administration who told the Associated Press in January.
That prospect appears to be back on the table now.
