Picasso Family Halts NFT Sale As Earlier News Was ‘Completely Wrong’

Last week, it was reported that Marina Picasso, the Grand Master’s granddaughter, would be bringing a never-before-seen ceramic piece to the forefront with a collection of 1,010 non-fungible tokens (NFTs).

However, the Associated Press has now said that the project has been indefinitely halted by other members of the Picasso family. 

“The information given through the media by which the Picasso heirs would join into the market for ‘Pablo Picasso’ NFTs is completely wrong,” said Jean-Jacques Neuer, a lawyer for the Picasso Administration. 

The family also called out the reports that said the ceramic artwork—which the NFTs were based on—was going on sale.

According to ARTnews, though the three children and two grandchildren of Pablo Picasso have joint ownership of his intellectual property, only Claude Ruiz Picasso, the son and family administrator, can authorize projects such as the NFT collection.

It appears that Marina and Florian have backpedaled on their earlier announcement, now saying that the collection was linked to Florian’s work as a DJ and music producer, and was not Pablo Picasso’s artwork.

“Maybe we should have been a bit more clear from the beginning,” admitted Cyril Noterman, business manager of Florian Picasso. 

Florian personally told Mint that “what’s happening is that some members of the family don’t agree with the project, and don’t want the name mentioned.” 

With NFTs becoming more widespread, with major brands dipping their toes into the burgeoning digital art market, it remains to be seen if the Picasso family will eventually be a part of the metaverse landscape too.

[via ARTnews and Mint, cover image via Diamant24 | Dreamstime.com]