Home Blockchain Bitcoin-based artwork smashes records, sells for $100K

Bitcoin-based artwork smashes records, sells for $100K



“Right Place & Right Time,” a digital art piece based on Bitcoin’s (BTC) fluctuating price action, has sold for more than $100,000.

“The Master NFT of Right Place & Right Time was sold to TokenAngels for $101,593. — but happy to call it $100,000,” Matt Kane, the artwork’s creator, told Cointelegraph on Friday. 

NFT stands for nonfungible token — a unique digital asset that does not synonymously value others like it. NFTs have begun surfacing as artwork, giving the tokenholder ownership over the art. “Right Place & Right Time” is an NFT art piece showing a creatively designed image of Bitcoin’s logo. The patterns and overall look, however, change along with Bitcoin’s price action. 

Kane said he cannot remember when he actually began creating the art piece. “I’ve lost track of time in creating it,” he said.

“My artwork always takes however much or little time that the work demands. The original digital painting was made last November and then I began preparing it to become a programmable artwork on Async Art in January. There’s been countless tweaks and preparations to perfect it’s homecoming to Volatility.art.”

Many artists put their masterpieces on the blockchain via Async Art, while Volatility.art is a place viewers can see Bitcoin art formed from its daily price action.

“Right Place & Right Time” stands as a unique piece. The master NFT sold for $100,000. This master NFT, however, will create 210 different NFT artworks based on Bitcoin’s price action and the subsequent patterns that pop up on the master art piece. 

“Each NFT will be created by the original master NFT,” Kane explained. “The compositions are created using an algorithm I wrote which visualize a single day in Bitcoin price volatility,” he noted. “I’ll maintain some creative influence, altering colors and other design elements as the project matures over time,” he said, adding: “And of course I curate which days are minted.”

When each of the 210 pieces are purchased, the master NFT owner receives 21% of each sale, Kane explained. “The purchasers of these 210 will [also] have the option to buy a print counterpart of their NFT art,” Kane added. 

The 210 and 21% numbers give tribute to the Bitcoin’s maximum supply — 21 million coins. 

The crypto and blockchain space has seen its art scene rise as of late, as a number of various art-related initiatives have popped up across the industry. 

UPDATE Sept. 18, 18:10 UTC: This article has been updated. 



Read orginal here

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
474FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,550FollowersFollow
2,230SubscribersSubscribe
USD - United States Dollar
EUR
1.18
GBP
1.30
CHF
1.10
NOK
0.11
JPY
0.01
CAD
0.76
AUD
0.70

Most Popular

In China, most blockchain R&D funds are going toward this segment

A report published by Securities Daily explained how China's publicly-listed companies spend the millions they have allocated toward blockchain R&D. The study surveyed 23 companies...

ETC Cooperative, IOHK publish analysis on preventing 51% attacks

Blockchain research and development startup IOHK, and Ethereum Classic Cooperative today announced a collaboration to provide ETC community with solutions that aimed to...

Cardano, Zcash, DigiByte Price Analysis: 20 October

Bitcoin surged to touch $11,800 and Crypto Fear and Greed Index stood at 56. A positive correlation with gold and S&P500 could drag...
bitcoin
Bitcoin (BTC) $ 11,992.98
ethereum
Ethereum (ETH) $ 372.40
ripple
XRP (XRP) $ 0.245083
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 243.40
bitcoin-cash-sv
Bitcoin SV (BSV) $ 158.74
litecoin
Litecoin (LTC) $ 47.34
eos
EOS (EOS) $ 2.54
binancecoin
Binance Coin (BNB) $ 29.23
okb
OKB (OKB) $ 4.80
tezos
Tezos (XTZ) $ 2.08
leo-token
LEO Token (LEO) $ 1.22
cardano
Cardano (ADA) $ 0.102954
monero
Monero (XMR) $ 118.20
stellar
Stellar (XLM) $ 0.082288
chainlink
Chainlink (LINK) $ 10.04
huobi-token
Huobi Token (HT) $ 4.39
tron
TRON (TRX) $ 0.026179
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 72.10
neo
NEO (NEO) $ 17.10
iota
IOTA (MIOTA) $ 0.266010
nem
NEM (XEM) $ 0.109985
zcash
Zcash (ZEC) $ 59.01
maker
Maker (MKR) $ 555.54
paxos-standard
Paxos Standard (PAX) $ 0.998678
ethereum-classic
Ethereum Classic (ETC) $ 5.10
vechain
VeChain (VET) $ 0.010931
true-usd
TrueUSD (TUSD) $ 0.999745
ftx-token
FTX Token (FTT) $ 3.61
kucoin-shares
KuCoin Shares (KCS) $ 0.927583
waves
Waves (WAVES) $ 2.89