Varma In The Metaverse – Mid-Day

Raja Ravi Varma’s work sparks a new movement in both art and crypto communities

NFT versions of two of Varma’s most popular works, The Coquette and Reclining Nair Lady, are leading the auction. The works are the first-ever to be tokenised and launched, accepting payments via credit card and crypto

The works of artist Raja Ravi Varma, among the greatest painters in the history of Indian art, are a great example of the fusion of European academic art with an Indian sensibility and iconography. The Coquette and Reclining Nair Lady, the two most stunning women painted by him, are now finding their way into the metaverse. With the originals considered national treasures that can’t be brought out of India, RtistiQ, a distinct physical and digital art marketplace – that leverages technologies such as blockchain, non-fungible tokens (NFTs) and near field communication (NFC) – is leading the auction of the artworks’ NFT versions. This global auction will give elite collectors, investors and the masses an opportunity to lay claim to a piece of India’s heritage.

This is the first time an NFT auction has been held in partnership with a traditional gallery (Gallery g) as well as with an artist’s foundation (the Raja Ravi Varma Heritage Foundation). The latter is authorising the creation and the representation is led by the gallery who will do the artwork upload and minting. The works are the first-ever to be tokenised and launched, accepting payments via credit card and crypto.

In his time, Ravi Varma had revolutionised the industry by creating lithograph versions of his paintings and making art more accessible to all. The artist’s great-great granddaughter, Rukmini Varma, Chairperson, Raja Ravi Varma Heritage Foundation, tells us, “Ravi Varma was a progressive man and artist. He believed in adopting new techniques of painting, he was well travelled, mingled with high society and royals and spoke fluent English. He made every effort for his art to reach the masses by starting the Ravi Varma Press and mass-producing some of his paintings. It was a big decision for an artist to take in 1895, yet he felt the need to do so. I believe his artistic legacy needs to live on, not just through physical paintings and prints created by his hand, but also in the digital form. Given the present climate and the several new ways in which artists can find patronage, it is only fitting that Ravi Varma leads the way.”

Vinita Angelo

Gitanjali Maini, Founder Director, Gallery g, says, “While the artist was known to paint gods, goddesses and various mythological scenes, his beautiful women have always left a viewer stunned. Hence, we felt it was fitting to enter the NFT market with two women whose images are bound to make people stop and stare. The details in these paintings are fascinating. For instance, the Reclining Nair Lady suggests that the woman in the painting is educated for she is reading a book; thus making a statement about women’s literacy during 1902 when this painting was created. The jewellery and sari worn by The Coquette are elaborate and provide clear documentation of textiles, weaving techniques, designs, jewellery design and styles worn during that period [1893]. There is so much more to a Ravi Varma work than what meets the eye. You just need to know what to look for.”

Rukmini Varma

Vinita Angelo, COO and co-founder, RtistiQ, says, “Though NFTs have been around since 2014, they roared into popularity in 2021 and continue to gain market prominence in 2022. Their popularity took off in March 2021 when British auction house Christie’s sold an NFT of Everydays – The First 5,000 Days, a work of art by Mike Winkelmann for a whopping $69m. NFT sales have since hit $41b in 2021 from a mere $340m market-size in 2020, and further projected to be over $300b market by 2030 at a CAGR of 39 per cent. With this endeavour to tokenise a chapter of Indian art, our mission is to bring to any art aficionado a once-in-a-lifetime opportunity to own original Raja Ravi Varma works at an auction spark regardless of where they reside.”

Reclining Nair Lady

>> Painted in 1902, the posture and positioning of the Reclining Nair Lady is referenced from French artist Eduardo Manet’s Olympia.

>> Currently held in a private collection, The Coquette is one of the artist’s most popular paintings. A recreation of the artwork was previously sold for $100,000.

>> The original artworks are valued at $2.5M.

WHAT: Auction of NFTs of Ravi Varma’s works

WHERE: https://art.rtistiq.com/en/nftdrop/raja-rav i-varma-nft-auction

WHEN: February 17 to 20