Blockchain in art industry... Art of Blockchain!
The technology of the Blockchain is confidently getting into the Art industry 🔺
Recently an artwork was sold with the usage of the blockchain technologies, and it has happened for the very first time in the world history of art auctions.
On the June 20th Andy Warhol’s “14 small electric chairs” have been auctioned at the fine art platform Maecenas. Resulting in the 49% of the artwork ownership been purchased for the total of 903,65 BTC (equaling about $ 5,6 million at the day of purchase) and smart-contract signed as the deal's confirmation.
The case of his artwork being sold with the usage of blockchain technology symbolizes the beginning of the democratization of the art market.
And it fully corresponds to the aspirations of Andy, who was distinguished by his special attitude towards the Art, not worshipping it, but popularizing it in masses.
Blockchain technology does not only change the art market rules but also does inspire young artists to create non-trivial, revolutionary works.
For example, the French painter Youl, inspired by Project Bitcoin, created an artwork “Last (Bitcoin) Supper”.
The authors explain their work in the following way: “When we started throwing around ideas for the painting, I was struck that we both had stumbled upon the same basic thought: bitcoin as Jesus. We saw Jesus as a messianic figure who fundamentally changed the world... and for that change, he was both worshipped and despised. We felt that bitcoin has taken a similar role: thoroughly world-changing, but also worshipped and despised.”
About other distinctive examples blockchain implementations, we could hear from renowned speakers, such as Wilfried Pimenta (Business Development Director at the IOTA Foundation), Jeremy Light (Vice President at Ripple) and Charles Hoskinson (CEO & Founder at IOHK). Attend the second edition of the Blockchain Leadership Summit, which will take place in Congress Center Basel at 23–24 of November 2018.