Earlier this month, Christie’s auction house announced the sale of a digital portrait of the Bitcoin code for more than $130,000 when the first estimated price was $12,000–$18,000. It was the first time a nonfungible token was auctioned at one of the major auction houses for traditional art. One of the last events, Bridge to Metaverse, presented by Snark.art, showed tokenized artworks by both established and emerging contemporary artists. A group exhibition brought leading artists of our time — the Kabakovs, Kendell Geers, AES+F, Recycle Group and others — to the blockchain space, and a series of panel discussions worked …

Christie’s auction house has announced the sale of a digital portrait of the Bitcoin code for more than $130,000. It marks the first time a non-fungible token (NFT) was auctioned at a major auction house, and the price exceeded expectations. According to the auction house, an unknown buyer purchased "Block 21," comprised of a physical piece of art and an NFT representing Satoshi Nakamoto for $131,250 at Christie's on Oct. 7 as part of its “Post-War and Contemporary Day Auction.” Bidding started at $22,000. The artwork, created by Ben Gentilli with the Robert Alice project, is one of 40 creations …

On Sept. 23, auction-house giant Christie’s announced plans to sell its first nonfungible token, or NFT, at an auction. This was just one week after the record-setting $100,000 sale at auction of a digital art piece that also used a blockchain-based token to vest the collector’s new ownership rights. Meanwhile, Anthony Pompliano, Morgan Creek Digital co-founder and partner, wrote on Sept. 21: "I personally believe that the digital art market cap will grow to become larger than the physical art market cap. This may sound ridiculous today.” Clearly, the digital art market is heating up. Duncan Cock Foster, co-founder at …

Major players in the crypto community are betting big on digital art NFTs surpassing the physical art market. According to a Sept. 21 tweet from Messari analyst Mason Nystrom, sales of non-fungible token (NFT) marketplace Rarible passed $5 million in September, with a volume of 5,309 of its RARI governance tokens traded. Messari reported that $1.5 million of this new volume came on a single day, on Sept. 14. In addition, the SuperRare NFT marketplace has “grown at an impressive rate” this year, according to Nystrom. This activity has caught the attention of investors seeing the potential of NFTs, which …

“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 …

Many believe that Blockchain technology has the potential to transform the art industry. To prove this hypothesis, a blockchain firm in Switzerland is hosting, alongside Cointelegraph, its first online event devoted to blockchain in art. CV Labs, the blockchain incubator arm of Swiss blockchain investment firm CV VC, has organized an online panel to discuss the hottest issues in areas of blockchain use for art. Titled “Blockchain in Art,” the online event will feature major industry players such as Niko Kipouros, CEO of 4ARTechnologies; Christina Steinbrecher, co-founder of Blockchain.art, a digital platform for artists and collectors; Nanne Dekking, CEO of …

Big Four auditor PwC and Swiss blockchain investment firm CV VC, together with Cointelegraph, have released a preview for their new periodical report devoted to blockchain technology in various industries. Published on July 21, the report provides an overview of the upcoming full release featuring the top global blockchain companies focused on implementing blockchain technology in art. The report was co-authored by PwC and CV VC with contribution of PwC Switzerland and Nicolai Reinbold, ecosystem and incubator manager at CV VC. As part of the upcoming full release, CV VC's ecosystem CV Labs will host an online panel to discuss …

Scottish Coldplay bass artist, Guy Berryman, has joined the crypto space, funding a Bitcoin (BTC) exchange application called Zumo. “Covid-19 has fast forwarded the move to a cashless society and for safe and easy ways to invest in new forms of currency that are more resilient to crises such as this one," Zumo CEO and founder Nick Jones told the Edinburgh News. The app is a basic avenue into Bitcoin Zumo touts basic Bitcoin functionalities, allowing users to buy, sell, transact and store BTC, the May 21 Edinburgh News article detailed. In addition to Berryman, the app boasts funding from …

A San Francisco-based experimental art movement has created what they describe as an ‘autonomously programmed art piece’ that changes appearance as the price of Bitcoin fluctuates. Asynchronous Art revealed Matt Kane’s “Right Place & Right Time” today, an artwork that evolves dynamically in response to BTC price action. As the value of the cryptocurrency changes, so too does the artwork, explained Kane: "Each day, a new look for the Master is generated using a data feed of Bitcoin's last 24 hours of price action. Each hour's price programmatically controls rotation, scale, and position of a correlating layer." The complete piece …

American EDM-pop duo The Chainsmokers are backing a new blockchain-based ticketing platform. Platform allows artists to control the secondary ticketing market Alongside their manager Adam Alpert, the 2017 Grammy Award winners invested in YellowHeart, a decentralized ticketing platform designed to facilitate transparent ticketing sales by artists, music industry publication Music Business Worldwide reports on Oct. 21. Founded by music executive Josh Katz, the YellowHeart platform uses a public blockchain to enable artists and venues to directly control the ticketing process, including sales on secondary markets. YellowHeart aims to eliminate scalpers Specifically, the platform intends to cut out the music industry …

South Korean art-focused blockchain project ArtBloc will conduct a fractionalized ownership sale of two paintings by popular British painter David Hockney. ArtBloc launch commemoration ArtBloc plans to host a special event introducing the blockchain-enabled fractionalized ownership sale of two of David Hockney’s paintings in Seoul on Sept. 19, local outlet KoreaTechDesk reported on Aug. 29. “Hockney Night with ArtBloc” will also function as ArtBloc’s launch party, where art enthusiasts will be able to check out work by Hockney that has reportedly never before been on display in South Korea. Fractionalized artwork ownership is a method of selling possession by dividing …

A one-of-a-kind Lamborghini Aventador S with a custom street-art paint job is on show at the 2019 Monterey Car Week in California, Aug. 15-18. The vehicle will be the first Lamborghini to be certified through a pilot project using Salesforce Blockchain to protect the car as a work of art. Automotive art meets street art The Aventador S represents a fusion of the automotive art of Lamborghini, coupled with the distinctive street art of rising star, Skyler Grey. Nineteen year-old Grey is one of the youngest street artists to be represented in museums and international art fairs. He also made …