When you think of blockchain technology, most people will probably think of Bitcoin or Ethereum cryptocurrency. However, a premiere at Christie’s auction house proves that blockchain technology can do more than just be a payment method platform: the first purely digital artwork to be auctioned there. According to Christies, the auction will run from February 25 to March 11, 2021.
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Christie’s Auction House: The first digital artwork to be auctioned
According to Christie’s information, the work is 21069 x 21069 pixels with the title “Everyday: The First 5,000 Days.” Initial bid should be around $ 100, but payments can only be made in the cryptocurrency Ether, which is part of the Ethereum network.
The so-called “non-fungible symbol” (NFT) should ensure that the holder of the highest bid is also the sole owner of the artwork. Unlike redeemable tokens, for example cryptocurrency like Bitcoin, NFTs are not interchangeable. So Bitcoin is no different from other Bitcoins – on the other hand, NFTs are very different from other NFTs. The t3n.de website wrote on the subject “non-exchangeable, that is, non-interchangeable codes represent a very specific asset and are therefore unique”. NFTs are particularly suited to the origins of digital art, of which there are only a few or even only one object in the world – as in Christie’s current case.
5000 pieces digital artwork
As the artwork’s title already suggests, the digital image consists of a total of 5,000 models, all of which come from digital artist Mike Winckelmann, 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 5,000 photos on January 7, 2021.
“Zooming in on the individual pieces is organized in a loose chronological order and presents abstract, wonderful, bizarre and absurd images as well as current events and deeply personal moments,” continues Christie’s. While the first images still contained abstract themes, colors, and shapes, the images became more and more thematic over time and some also interacted with current events. Bebel himself says: “I now look at him as if I were a political cartoonist.”
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