05-31-2020 icon

Nigerian Crypto Artist Sells “I Can’t Breath” Piece for 7 ETH

By Sagetwriter
Nigerian Artist Sells George Floyd Art for Ethereum

Osinachi – a self-taught Nigerian crypto artist has sold his latest “I Can’t Breathe” digital art for 7 Ethereum (ETH) about $1,703 at time of publication.

The digital art piece was sold at an auction on a blockchain-based social network – SuperRare today.

Osinachi’s “I Can’t Breathe” piece is inspired by the ongoing violence in the America city of  Minneapolis due to the death of black American George Floyd who residents accuse to have been killed by four (4) state police officers.

On May 25, 2020, an
African-American man,
George Floyd was killed by
a police officer in
Minneapolis. T… Show more#cryptoart #georgefloyd #gif #icantbreathe #justiceforgeorgefloyd #osinachi #policebrutality #race

@osinachi accepted a bid of 7.0Ξ ($1,703) from @colborn

A DAY AGO[view tx]

According to him, part of the proceeds from the sale will go to the Black Lives Matter movement, a notable cause in the fight against racism.

Osinachi who became the first Nigerian artist to showcase his artworks at the 2018 Ethreal Summit in New York, was also shortlisted for the Bridgeman Studio Award 2019.

At this time, he has created a total of 36 artworks on the blockchain platform – SuperRare.co.

How Does SuperRare Work?

Each digital artwork on SuperRare is created uniquely by the artist on the network, and then backed on the Ethereum blockchain to aid verifiability of its history and originality.

The artworks are then tokenized as non-fungible ERC-721 tokens such that they become crypto-collectible digital items which can now be traded or held as long term investments.

Artists now choose either to put up their works for auction, or sell at a stated price.

Has Crypto Art Come to Stay?

Speaking at April’s Virtual Blockchain Week, crypto artist Vesa Kivinen described crypto art is an investment with the same potential as coins; noting that “investing into something like crypto art gives you a product that has the potential of going parabolic” .

“[Digital art] has many similarities to, let’s say, the very, very early Bitcoin. Those opportunities of holding on to the first 10x, and the 100x, and the 1000x … they’re now going on in crypto art in these unique limited edition assets.”

“You have to approach the thing from a holistic point of view so that it’s also an investment… No one is going to part with their piece for less than a Bitcoin [later on]. That would be insane. At best, you might get 10 BTC for your piece later, should you ever sell it.”