09-24-2020 icon

Blockchain artist to sell “largest artwork” in the history of Bitcoin

By calvin

What is said to be “the largest artwork” in the history of Bitcoin is to be sold by art historian turned blockchain artist, Robert Alice. Alice’s “Portrait of a Mind” is a series of 40 paintings with a length of over 50 meters.

Non-Fungible Token Takes its Place in Bitcoin History

The hand-painted artwork takes a lot of its inspiration from 20th-century conceptualism and the story of Bitcoin’s creation. It contains information on the 12.3 million digits of code used to launch Bitcoin. 

The transcribed code is divided into 40 fragments which are distributed around the world. This means that no one collector on the network of 40 collectors will hold all the code. 

“In each work, an algorithm has found a set of hex digits that together are highlighted in gold. These read a set of coordinates that are unique to each painting. 40 locations across 40 paintings – each location is of particular significance to the history of Bitcoin.”

The heights of innovation in the non-fungible token space seem to know no bounds. The intersection of art with the digitization of real-world goods could create new models for financial innovation that increase access to finance across the world.

In his latest installment of The Pomp Letter, Anthony Pompaliano states,

“The world’s wealthiest people have been acquiring art for decades, whether it was for store of value, capital appreciation, or pure creative and intellectual stimulation. Regardless of your personal experience with traditional art, the numbers are absolutely staggering”

A New Market for the New Era

As a result of their distinctive characteristics, NFTs are not interchangeable. This makes them useful for providing a means of proving authenticity and ownership. 

“They are ERC-720 compliant, and have been mostly used in the storage of crypto-collectibles such as arts; providing a means of proving authenticity and ownership, and in crypto gaming. Non-fungible tokens are tokenized versions of digital or real-world assets.”

The Non-fungible token market continues to grow at a strikingly high rate. Recently, a Bitcoin-influenced digital artwork sold for a record 262 ether ($101,100).

Photo by Robert Keane on Unsplash