Swiss crypto bank Sygnum will tokenize a portfolio of football world championship-themed sculptures by renowned Swiss artist David Pflugi. The artworks carry the signatures of teams from three finals, including those by established and emerging football legends.
Victory Works will issue 6,000 Art Security Tokens (ASTs) with an initial total value of CHF 6 million that will be available to Sygnum clients starting in April. The signatures of finalists from both teams, watched in action by hundreds of millions of fans in world championship finals, are considered genuine, high value pieces of global sporting history. The artworks are planned to be sold by auction at the end of the two to three-year investment horizon, with each token holder receiving their pro rata share of proceeds.
The Victory Works collection
David Pflugi is a renowned Swiss sculptor and painter who creates innovative artworks which surprise the viewer by presenting different images and contrasting themes when approached from opposing directions. Pflugi's Victory Works sculptures were created in honour of three football world championships; 2010, 2014 and 2018, and carry the personal signatures of all finalists and coaches of the winning and runner-up teams, including established and emerging football legends as Oliver Kahn, Kylian Mbappé, Lionel Messi, Luka Modrić, Ronaldinho, Bastian Schweinsteiger, Fernando Torres, Zinédine Zidane, and many others.
The football world championship, incorporating teams from 32 nations, is comparable only to the Olympics in terms of global viewership and sporting prestige. According to FIFA, the 2018 World Cup was viewed by 3.6 billion football fans, over half the world's population, with over 1.1 billion tuning in for the final between France and Croatia. These collections of finalist signatures are regarded as unique and high-value pieces of global sporting history worth preserving and celebrating.
Security tokens recognised under Swiss law
Victory Works will issue 6,000 Art Security Tokens (ASTs), fully recognised under the new Swiss DLT legislation, via Sygnum's tokenization platform with a total value of CHF 6 million. The first tranche of these tokens will be available from April 2022 for subscription exclusively to the bank's professional and institutional clients on their secondary market trading platform.
The portfolio of three sculptures is planned to be sold through an auction at the end of the investment horizon of two to three years. All token holders will receive a share of the proceeds in accordance with the number of tokens that they own. Victory Works plans to retain approximately half of these ASTs and will donate 20 percent of its proceeds to charities supporting children in developing countries.
"It is my goal to inspire those viewing my art to explore new perspectives through movement. Likewise, I believe the tokenization movement will bring to the world a new perspective of art ownership and investment, opening up access to this market to a broader set of investors." - David Pflugi, creator of the Victory Works collection
