Singapore art gallery partners Japanese celebrities, artists in emerging NFT market

01, Sep. 2021

Riding the NFT wave, Cherie Gallery staged a fashion show at an exhibition in New York City in July 2021 to promote the creations of Japanese artists and celebrities. (Photo: Cherie Gallery)
Riding the NFT wave, Cherie Gallery staged a fashion show at an exhibition in New York City in July 2021 to promote the creations of Japanese artists and celebrities. (Photo: Cherie Gallery)

By Celine Chen

SINGAPORE, NNA - Cherie Gallery, a cutting-edge art gallery that offers NFT ( non-fungible tokens) and traditional art, has showcased the creations of Japanese showbiz celebrities and artists in New York and London.

Recently launched by TreasureGate Pte Ltd, a startup in Singapore, the gallery entered the European market recently in August with an exhibition in London where it sold $200,000 worth of NFT artworks.

Earlier in July, Cherie Gallery (Cherie) had staged an exhibition in New York City that combined Japanese contemporary and traditional art with lively music and a fashion show with catwalk models.

Cherie's aim is to craft an inclusive worldwide art gallery to support content creators and promote the art industry at large. Handling the task is the AR7 art technology team from TreasureGate, a blockchain tech company.

The gallery extends unique opportunities of NFTs to artists from around the world. These digital assets are used as individual identifiers for physical assets on a blockchain, enabling authenticated ownership and security for content creators and buyers, who could be collectors, speculators or ardent fans of celebrities.

NFTs can be used to represent items like photos, videos, audio, and other types of digital files.

Cherie said, "In fact, the use of NFTs enables artists to easily profit from their work while receiving the utmost protection. Simply put, NFTs are embedded computer files that promote authenticity and proof of ownership, much like a deed."

With this innovative development in technology applied to the art industry, Cherie has been able to partner industries, companies, and content creators to sell secured NFT artworks.

One of them is the late Japanese actor Chiba Shinichi. Popularly known as Sonny Chiba, he was a renowned martial artist who impressed fans with his creative flair too.

Another Japanese artist is Kitahara Teruhisa who has taken inspiration from Hollywood animation movies. Known as the 'Father of Toy', he founded the Kitahara Museum in Japan, reputably the largest museum of its kind in the world.

Cherie Gallery also worked with Inoue Bunta, a Japanese painter with a wide repertoire of styles, from spatial art and tattoos to character design and Japanese oil paintings.

The gallery had also partnered with Muranishi Toru, a legendary film director; actress Sugimoto Aya; Kaneda Sekijo, an avant-garde calligrapher; and airbrush artist Iwasaki Masakazu.

Also collaborating with Cherie is 'Buster and Glen', a pseudonym for a famous NFT artist, whose true identity or identities remain unknown. While he operates from the United States, he said Japanese classic animations like Astro Boy, Galaxy Express 999, and Ultraman have given him much inspiration for his works.

According to DappRadar, which tracks sales across multiple blockchains, the NFT space amassed over $1.2 billion in sales in July alone.

In its report on August 3, "At some point during the previous months, several people and media were calling for an imminent downside of the NFT space. Not only did that negative trend never come but it became exactly the opposite. The NFT phenomenon has reached heights that were unthinkable just a few months ago."

Monitoring August activities, DappRadar noted that 0N1 Force has had one of the most impressive starts in the NFT space. Launched on August 17, it netted over $115 million in sales volume in only two weeks.

Inspired by Japanese folklore, the 0N1 Force collection boasts 7,777 generative side-profile avatars generated from more than 100 hand-drawn features.

Research firm NonFungible said the NFT ecosystem is growing faster, appealing to more and more new users, who have already begun to shape the market.

It has a very good retention rate of new users at 25 percent with nearly 40,000 new users joining every two months, it said.

The average price of assets has jumped significantly, giving rise to a segment of “very expensive” assets that only an elite can acquire, added NonFungible.

Meanwhile, the digital collecting market has seen increasing participation by celebrities and well-known personalities from various fields.

They include sports icons like Naomi Osaka, Tiger Woods, Simone Biles and Tony Hawk who partnered with Autograph NFT platform.

Last week, soccer superstar Lionel Messi sold a 1-of-1 NFT for more than $1 million. In July, heavyweight boxer Tyson Fury sold a single-edition token for $987,000.

Professional athletes Patrick Mahomes, Rob Gronkowski, Francis Ngannou and Andy Murray have all sold one-of-a-kind NFTs in the six-figure range this year.

On August 30, fashion house DKNY unveiled the new iteration of its iconic logo, now reimagined as an NFT, for a charity auction to benefit auction its very first NFT featuring the new logo to benefit the American Nurses Foundation.

Inspired by the brand's famous mural that lived for over a decade on Houston Street in New York City, the NFT was created in partnership with Paris-based art collective Obvious, the same group of artists behind the first ever AI-generated artwork sold at a major auction house.

The auction will be hosted on Rad, a pioneering NFT marketplace from the groundbreaking entertainment and blockchain technology company, Little Star, whose partners include brands such as Sony and Disney.