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Thursday, Aug 11, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Psychedelics

MAPS has immense fundraising success

Christie’s helps psychedelic research group generate unprecedented revenue via crypto-asset art auction

MAPS has immense fundraising success via crypto-asset art auction
Photo via Christie's

A progressive association dedicated to healing and benefitting the public recently had help generating a vast amount of money to assist with its ongoing psychedelic studies.

On Thursday, the Multidisciplinary Association for Psychedelic Studies (MAPS) revealed that Cartography of the Mind: A Curated NFT (non-fungible token) Sale had generated US$1,569,960. The art auction hosted at the end of last month by Christie’s in partnership with Ryan Zurrer, founder of Vine Ventures, will directly support MAPS.

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MAPS was founded in 1986 with the intention of fostering cultural, medical and legal methods for society to benefit from its non-profit research dedicated to the calculated use of psychedelics and marijuana. The organization also claims to help sponsor the most sophisticated psychedelic therapy studies on earth, primarily funded by philanthropists who have donated over US$130 million for education and research purposes.

Christie’s is a renowned art and luxury business founded over 250 years ago in 1766. The international artwork leader has been known for its bespoke private sales and online auctions in addition to providing art financing and appraisal.

Ryan Zurrer is a blockchain and crypto-economics expert who founded Vine Ventures, an investing company primarily concerned with the psychedelic industry.

Cartography of the Mind was the most successful art auction that MAPS has ever benefitted from in its history of philanthropic art sales spanning more than three decades. Contributing artists included David Choe, Beeple and Alex Grey (arguably the most well-known psychedelic-inspired artist today).

Grey completed an artistic rendition of the MAPS logo entitled Psychedelic Healing to help commemorate the 35th anniversary of the organization. It was then bought by Ryan Zurrer who later donated it to MAPS for future fundraising.

Psychedelic Therapy – Alex Grey

“Throughout the week, the physical exhibition at Christie’s new gallery on 6th Avenue drew impressive crowds of enthusiastic visitors. With competitive bidding, the sale realized over $1.5 million. It was 100% sold, and 130% sold hammer over low estimate. This is a true testament to the continued strength and vibrancy of the digital art market,” said Nicole Sales, Christie’s Business Director of Digital Art.

NFTs are essentially a code or key present in digital art that renders it completely unique. Select NFT pieces from Cartography of the Mind will be displayed at the Psychedelic Science conference in Colorado next year, which will be the first time digital art has ever been displayed at the event.

Photo via MAPS

 

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