When you think of blockchain technology, most people probably think of cryptocurrencies Bitcoin or Ethereum. However, a premiere at the Christies auction house demonstrates that blockchain technology can do more than simply serve as a platform for payment methods: the first purely digital artwork will be auctioned there. According to Christies, the auction will last from February 25 to March 11, 2021.
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Christies auction house: first digital artwork up for auction
According to Christie’s information, the artwork is a 21,069 x 21,069 pixel artwork titled “Every Day – The First 5000 Days.” The initial offer must be around 100 US dollars, but payments can only be made with the crypto currency Ether, which is part of the Ethereum network.
A so-called “Non-fungible Token” (NFT) should ensure that the highest bidder is also the sole owner of the artwork. Unlike fungible tokens, for example a cryptocurrency like Bitcoin, NFTs are not tradable. So a Bitcoin is no different from other Bitcoins; An NFT, on the other hand, is very different from other NFTs. “Non-fungible, that is, non-exchangeable tokens represent a very specific asset and are therefore unique,” writes the website t3n.de on the subject. NFTs are particularly suitable for digital art assets, of which there are only a few or even a single object in the world, as in the current case of Christies.
Digital artwork from 5000 motifs
As the title of the artwork already suggests, the digital image consists of a total of 5,000 motifs, all of which come from digital artist Mike Winkelmann, also known as Beeple.
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According to Christie’s description, Winkelmann has created a new digital artwork every day since May 1, 2007 and reached its last of 5,000 images on January 7, 2021.
Christies continues: “The approach to individual pieces is organized in an imprecise chronological order and shows abstract, fantastic, grotesque and absurd images, as well as current events and deeply personal moments.” While the first images still had abstract themes, colors, and shapes, the images became more and more current over time and some of them reacted to current events as well. Beeple himself says: “Now I see him almost as if he were a political cartoonist.”
Editorial team of Finanzen.net
Image Sources: Steve Heap / Shutterstock.com