From June to September 10, 2007 the Peggy Guggenheim Collection paid tribute to Emilio Vedova by presenting a selection of monotypes titled Spazio Opposto (Opposite Space), 2006. The homage was accompanied by the volume Vedova, Monotypes, a project of Art of This Century and Sandro Rumney. It reflected the enduring relationship between two friends, Peggy Guggenheim and Vedova, and the city of Venice. Young Vedova was the first artist, together with Giuseppe Santomaso, to meet Peggy Guggenheim upon her arrival in Venice in 1946. She rightly recognized him a rising star of the European avant-garde. Two works acquired by her in the 1950s remain in the collection: Image of Time/Barrier (1958) and Hostage City (1954). Today, Vedova's presence in the Peggy Guggenheim Collection is enriched by the monotype Opposite Space IV (2006), donated by the Emilio and Annabianca Vedova Foundation.

Although technically a print, the monotype is a unique work of art whose process challenges conventional approaches to painting. It is made by drawing or painting on a smooth, non-absorbent surface. The surface was historically a copper etching plate but in modern practice can vary from zinc to glass or acrylic glass. The image is transferred onto paper by pressing the two supports together, by hand or by means of a press. The composition is made of liquefied colours, usually oil, but also tempera, gouache, and ink. The pigments are applied directly with a brush or, in Vedova's case, with his fingers. The monotypes of the Opposite Space series suggest dynamic liquefied spaces that recall reflections of on Venetian lagoon.