Phillips Launches Single-lot NFT Online Auction in Collaboration with Andrea Bonaceto

Tempus Fugit Auction to take place from 1-5 June on Phillips.com

Phillips is thrilled to showcase Andrea Bonaceto's groundbreaking NFT project, Tempus Fugit, which will be offered in a standalone online auction on Phillips.com from 1-5 June. In this innovative work, Bonaceto merges his signature visual style with a generative AI component. This unique fusion is made possible by the proprietary software developed by Bonaceto in his studio, which was also incorporated into his previous project, AB INFINITE 1.

Benjamin Kandler, Digital Project Lead, Phillips, said “Andrea’s immersive project is immensely creative and a testament to the fact that technology in the art world continues to flourish. Tempus Fugit demonstrates the ways in which digital artists are committed to pushing the boundaries of fine art and tech. We look forward to presenting visitors and art enthusiasts with the chance to engage with this remarkable NFT ahead of the auction from 1-5 June.”

Tempus Fugit introduces an exciting new dimension to the world of art, allowing collectors to experience the work in both 2D and 3D. The project comes with a customizable avatar that operates within the metaverse. By integrating the artwork with the virtual world, collectors can witness their avatar engage and merge into the artwork and back again, immersing themselves in a captivating virtual reality experience.

This project is compatible with Somnium Space, one of the most advanced virtual reality metaverses available. Through this cutting-edge platform, collectors can fully appreciate the intricate details and immersive qualities of Tempus Fugit. Bonaceto's Tempus Fugit demonstrates the potential for blending art, AI, and virtual reality, paving the way for future artistic exploration in the digital age. The work is available for purchase in GBP and Ethereum. Tempus Fugit will go on preview in Phillips London galleries on Berkeley Square ahead of the single-lot online auction from 1-5 June.

Andrea Bonaceto shared his vision on NFTs in an interview with Dinis Guarda:

“Art is a very subjective concept, right? I know that there is the metaphysical element of life, of what is the meaning of life? The concept of death… is probably the main inspiration whenever I do something. And someone could argue, an AI does not have that. NFTs will revolutionize many industries, especially the creative industry/economy. We are at the cusp of a paradigm shift.”

About Andrea Bonaceto

As an artist, Italian-born Andrea Bonaceto is well-known for creating colourful portraits of well-known people. He is also a fellow at the Royal Society of Art in the UK of @thersaorg Royal Society of Arts (FRSA) @niftygateway, @asyncart.

Andrea Bonaceto recently collaborated with Sophia the robot creating NFTs artwork. And as with most of Bonaceto’s work, Sophia’s art is a self-portrait that combines the former’s art history and previous works as well as the robot’s own physical paintings and drawings on multiple surfaces that have been processed by its creator David Hanson.

Bonaceto is also an investor through Eterna Capital, an investment management firm focused on blockchain technology. He launched Eterna Capital with 3 ex-BlackRock employees in 2018. Eterna Capital has established itself as a leading firm with a successful track record and institutional grade solutions.

Auction: 1-5 June 2023

Location: 30 Berkeley Square, London, W1J 6EX

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