Bitcoin Art - How Bitcoin could affect the Art world

Posted by Owity L on

Bitcoin Art

    This kind of effort could soon lead to the creation of actual works of art to support the value of the cryptocurrency and bring the world of Bitcoin and the art market together. Art could bring more confidence to this virtual and speculative universe, and this cryptocurrency brings together a world beyond Bitcoin art markets. 

    The value of the artwork itself would be regulated by the fluctuation of any cryptocurrency through smart contracts. For example, if 5 Bitcoins were hidden in a single piece of art created today, it could be worth $1,000 in the future.

    In February, Instagram user thisisludo posted a street art piece claiming Bitcoin was bringing power to people by sending the banking system to its death. In "Bitcoin 00," artist Pascal "PBOY" Boyart has painted a code that invites admirers to hand in their Bitcoin on the street in his street. 

Bitcoin Art - RIP Banking system by Ludo

  Leonardo Da Vinci would have hidden messages in his art that took years and even longer to decipher than the current digital currency. 

    Moreover, Bitcoin solves a huge math problem: There are only 21 million Bitcoins ever released. By hiding Bitcoins in your art, you have irrefutable proof that you own the rights to your work. When Jamie Dimon of JP Morgan called bitcoin a "terrible store of value" in January 2014, it was in response. 

    Dimon's crumbling state is portrayed as a reflection of public confidence in traditional banking institutions. Based on Robert Indiana's "LOVE" work, cryptograffiti was created with a central bank purse replacing LOVE with HODL. Hodgson's piece is due to be auctioned in May 2018 as part of a wider movement to centralize the cryptocurrency. 

What is Bitcoin Art? 

    Several artists have integrated Bitcoin into their art, either the image of it or an amount of Bitcoin will be integrated into the pieces. Bitcoin/Blockchain will allow auction houses to digitalize fine art; this will allow many to invest into fine art in a fractional way.

    The value of the artwork itself would be regulated by the fluctuation of any cryptocurrency through smart contracts. For example, if 5 Bitcoins were hidden in a single piece of art created today, it could be worth $1,000 in the future. While some works of crypto art fetched high prices at auctions, other artists were able to show off their creativity and talent free of charge. A serigraph was later auctioned for $8,000 to crypto connoisseur Mike Novogratz. In a separate auction, cryptograffiti had auctioned off a piece called "Terrible Store of Value," which sold for $33,000. 

    The real wallet address is supposedly used to donate to the poor, but in reality it is just a work of art and not a real Bitcoin.

Bitcoin Art - Andy Warhol recreate

This piece is a recreation from Andy Warhols famous $ painting. From: https://delouvois.com/browse/fine-art/btc-art/be-warhol/

    The Polish artist Michal Cander was commissioned by a private buyer to paint a 65x80 cm oil painting on canvas. The American artist Dan Gribben presented the painting, and now it is time for another. Pierre Bourque from Canada is one of the most successful Bitcoin artists, who has created a series of paintings with the same name as his Bitcoin art. Japanese pseudonym, which is clearly played by Canders as the Japanese pseudonym of the Bitcoin creator. 

    The tortoise puzzle is a real challenge for Easter egg hunters, and the image, enigmatically titled "Torched H34R7S," is one of the most popular Bitcoin artworks in the world today. The work entitled "The Phoenix" by the American artist and Bitcoin artist Michael Gribben is inspired by Shakespeare's poem "Phoenix." Gamblin is an artist from the USA with a background in Bitcoin, Bitcoin Mining and Bitcoin Art. There is no doubt that the BTC price roller has rolled up and down in recent years, but this is the first in a series of images about the bitcoin market. 

    Cameron and Tyler Winklevoss, the Internet entrepreneurs perhaps best known for their role in creating Bitcoin, are the latest techies to make the leap into the art world. 

    This week, the twins of Winklevoss Capital announced the launch of Paddle8, a New York auction house known for its high-profile charity events, including the recent auction of Faberge Egg. They hope to use the blockchain to their advantage, according to a press release from company founder and co-founder David Karpeles. P paddle8 has flirted publicly with the use of Bitcoins for art transactions in the past and is part of a new wave of online auction houses looking for pieces for international markets. 

Bitcoin Art

Artist unknown

    It is difficult for digital artists to sell their works because they rarely exist in the physical world and it can be easy for them to be fraudulently copied and shared. R.A.R.E. gives artists the opportunity to submit a work of art as a token of value in exchange for a certain amount of digital currency such as Bitcoin. The artist can then sell the token to a collector in cryptocurrency, and the crypto wallet can also be kept in a crypto wallet, just as an investor could deposit a painting in a warehouse. They can be placed in virtual galleries, projected onto walls or picture frames, or even projected onto the walls of a museum. 

    A.R.E. works can also be sold online using cryptocurrencies such as Bitcoin, Ethereum, Litecoin and other digital currencies. 

    A group of international artists held an exhibition on cryptocurrency to mark their birthday. The pieces, made by artists from the USA and France, have a certificate of authenticity via the blockchain. Singapore - Singapore-based collector Joe Nash is selling his A.R.E. works at the Visionair Gallery, which also accepts cryptocurrencies. 

 

Cited Sources

Bitcoin Bitcoin Art Cryptocurrency Art Money Art

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