Thread by @landforce

MSCHF bought an original Andy Warhol for $20,000 and made 999 exact forgeries.

They mixed the original in and sold 1,000 pieces that *might be a real Warhol* for $250 each.

That’s $250k 🤌🏼

Here's what they did:

MSCHF is a company (kind of) that does wild product drops. They were behind the Lil Nas X Satan shoe, among other things.

Their latest project, Museum of Forgeries, is exactly what it sounds like.

- Bought the $20k Warhol
- Made 999 forgeries
- Sold all 1000 for $250 a pop

Love it tbh. From the team:

“Possibly Real Copy Of ‘Fairies’ by Andy Warhol” is a series of 1000 identical artworks. They are all definitely by MSCHF, and also all possibly by Andy Warhol. Any record of which piece within the set is the original has been destroyed."

First, they made replicas.

They systematically draw 999 ink on paper replicas of 'Fairies', copying every stroke perfectly.

Then, they degrade and age the piece with heat and light, creating all the same imperfections as the original in each of the new ones.

Step 3 - authentication.

They add the signature, and a MSCHF stamp of authenticity.

The replica Warhols (and the real one) are now MSCHF originals.

Finally they mix all 1,000 pieces together and destroy any record of which one is the real Warhol.

"By forging Fairies en masse, we obliterate the trail of provenance for the artwork. Though physically undamaged, we destroy any future confidence in the veracity of the work."

A $20k Warhol turns into a $250 MSCHF piece.

They sell out 1,000 and net $250k on the project.

Their insights about the mechanics are my favorite part.

It's nothing groundbreaking but I've never thought about it in this context.

Copies reduce the value of each piece, but increase the revenue.

"Posters, prints, or easily replicable derivative works turn an artwork into a product line, and when you hit the big time, product lines tend to be net more profitable than a handful of masterworks."

So they destroyed the original and leveraged it into a product line.

Destruction by duplication. An anti-NFT project.

MSCHF says:

"Democratization of access or ownership destroys any work premised on exclusivity."

I want one of these, and I'll have to buy on eBay and hope it's.... authentic? Lol

Source & more info: moforgeries.org

We discussed this in the last episode of Tab Talk - a podcast where @jamesoncamp and @orenmeetsworld and I break down all the random browser tabs we have open

(this was one of them)

open.spotify.com/episode/5U2ZMd…

My name is Colin, I build businesses and tweet about it every day. Come follow along if you don't already!

> @landforce <

Here's a little more about me:

TLDR;

With demand, volume decreases individual value but increases total value (or revenue).

- They bought a $20k Warhol
- Made 999 forgeries
- Sold all 1000 for $250 a pop

Search "MSCHF" on the app store to get access to their drops.