14 small electric chairs
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According to reports, the blockchain platform Maecenas announced today that it will hold the worlds first encrypted currency art auction on June 20 at the British art gallery Dadiani Syndicate.
At that time, the 49% ownership/ownership certificate of Andy Warhols painting 14 Small Electric Chairs will be auctioned, and the value of the work is about 5.6 million US dollars. Buyers can pay with digital currency through the Maecenas platform. Maecenas supports 3 digital currencies: ART token, Bitcoin and Ethereum.
14 Small Electric Chairs was created by Warhol, a representative of pop art, in 1967 for the personal retrospective exhibition of the Stockholm Museum of Contemporary Art. The height of the work is about 2 meters. In February 2016, at Bonhams Londons Post-War and Contemporary Art auction, the work was estimated at between £4 million and £6 million, or about $5.3 million to $8 million.
The blockchain platform Maecenas creates tamper-proof digital certificates related to artworks on the blockchain, and buyers and sellers can trade on the Maecenas platform for the ownership of digital certificates.
A smart contract running on the Ethereum blockchain determines the final price of Warhols paintings, and Maecenas sets a reserve price for the work, as well as purchase rules and constraints. The reserve price is set at $4 million. The rules and constraints include: All buyers must abide by KYC (identity verification) and anti-money laundering check regulations.
The Dadiani Syndicate Art Museum, which held the encrypted art auction this time, began to accept encrypted payments in 2017. At that time, it supported three payment methods: Bitcoin, Ethereum and Litecoin.
Blockchain technology can help solve many problems in artworks. For example, verify originality, copyright attribution, ownership confirmation, valuation and authenticity inquiry of works, etc.
In September 2017, the Russian National Central Museum held the worlds first encrypted art exhibition. The exhibition was based on the works of contemporary artist Svetlana Smirnova. VerisArt digital certificate generated by blockchain technology. Through the blockchain, detailed information such as the source and circulation of artworks are recorded to ensure its unforgeability.
Unlike being used to buy art, cryptocurrencies are also embedded directly in the art.
Peter Fröhlich (Peter Fröhlich) once installed a small computer and four machines dedicated to producing bitcoins in a baroque gold-plated frame on rosewood paneling, and displayed the current calculation speed of bitcoins on a small display on the upper part , and the Bitcoin exchange rate.
In addition, in a painting series exhibition in March this year, an encryption key wallet was embedded in the work, in which a single encryption key was worth as much as $9,000.
Some say Bitcoin is playing a role that revolutionized the world, but is also admired and despised. And this may also be the inherent contradiction in the artists sense of smell, the helplessness magnified after combining with digital currency.
I am Zhang Yi, a reporter from Odaily. I am exploring the real blockchain. For breaking news and communicating, please add WeChat ro20110723. Please note your name, unit, position and reason.
