Urs Fischer Launches NFT Series Amid Market Volatility Concerns

Urs Fischer, a Swiss artist, is set to unveil a new NFT collection named CHAOS via the Fair Warning app, initiated by Loïc Gouzer, the former head of Christie's. This collection will showcase animated and digitally scanned common items. Future pieces will be available through various platforms, including the Pace gallery's site. Gouzer gained fame for auctioning Leonardo da Vinci's Salvator Mundi for a staggering $450.3 million in 2017. Additionally, writer Ben Lewis has created an NFT titled Salvator Metaversi, which features the same artwork and intends to share its earnings with the family of Basil Clovis Hendry Sr., who originally sold it for $1,175. This NFT currently trades for the crypto-equivalent of $3,700. Since February, average NFT prices have plummeted by 70%, with Beeple describing the phenomenon as a bubble.