Codex + Rare Art Auction raises over USD 190,000 for Blockchain Art
The Codex + Rare Live Art Auction at the Ethereal Summit NY was the perfect end to an incredible event and a true celebration of blockchain inspired art with a record-breaking CryptoKitty, a Fail Whale that succeeded, repurposed and deconstructed expressions of currency and more.
The belle of the ball was the CryptoKitty, which appeared in both physical and virtual form, embodying the spirit of the summit. Setting a record, the unique “Celestial Cyber Dimension” Kitty by artist Guilherme Twardowski hails from CryptoKitties, a blockchain-based virtual game that allows players to adopt, raise, and trade virtual cats.
“Blockchain art is technically priceless” according to the New York Times, but for those in the room who hadn’t been to an art auction prior, the event was particularly exciting as the energy intensified with every bid. The Kitty turned out to be the belle of the ball, selling for USD 140,000 (203.41 ETH, 16.42 BTC), a record!
The incredible artworks in the auction and works exhibited at the Ethereal Summit truly represented the blockchain movement in art.
“As bids for the Cryptokitty crept above $100,000, a group of attendees wearing shirts that read “ARTISTS DESERVE MORE” cheered and hugged one another. The digital feline sold for $140,000.” — WIRED
Hosted by Codex Protocol in partnership with R.A.R.E. Art Labs and ConsenSys, the Live Art Auction raised over USD 190,000, with proceeds going to artists and education of blockchain events, coordinated by the Foundation for Art and Blockchain. Codex and the Foundation announced their support of the public programming within the #ArtProject Doge-Ethereum bridge.
Codex is incredibly thankful to the Artists and buyers who participated in the auction, furthering interest in blockchain and art with their contributions.
CryptoArt, a term as young as the practice itself, explores cryptography and cryptocurrency at the intersection of art and technology. The Ethereal Summit made it clear that the blockchain community embraces and respects the arts, and recognizes that the art market is ripe for transformation, as with many other industries, thanks to Satoshi.
“Create things, support artists. This @CodexProtocol #blockchain art auction is truly awesome.” tweeted Joseph Lubin, Co-founder of ethereum & Founder of ConsenSys
Artist CryptoGraffiti used the opportunity for table space at the auction to create a work using rat poison and acrylic on foam core, titled “The Banks = The Rats”, which he later positioned on the Berkshire Hathaway NYC office, garnering attention for poking fun at the recent Warren Buffet comment that Bitcoin is
“probably rat poison squared.”
Kevin Abosch, whose work focuses on cryptography more than cryptocurrency, is driven by an interest in the nature of identity, value, and human currency. His work “Stealing the Contents of This Wallet Is A Crime,” which sold during the auction for USD 8,500, had 100 of Kevin’s artworks stolen via four transfers from the Ethereum blockchain wallet referenced in the piece in a 5 day period. These artworks were on tokens called IAMACoins, and they held digital editions of artworks with blockchain wallet addresses stamped into the artist’s blood. Kevin told Bloomberg about the “IAMA Coin” project before the event;
“I imagined if I were a coin, how would I distribute myself to the masses?” Kevin Abosch
At Codex, we see an opportunity to present tokens to the masses by using them to represent a physical good. Similarly to a CryptoKitty represented by both a Token and an Analog device, with the Codex Title, a Token is used to store provenance information in a decentralized registry for arts and collectibles like fine art, jewelry, cars, wine, and more; facilitating secure value over time.
With the official launch of the first Codex dApp, Biddable, at the Live Art Auction during the Ethereal Summit, cryptocurrency holders can now participate in online auctions hosted by LiveAuctioneers, as online participants of this auction did, with our seamless integration. Buying arts and collectibles for enjoyment, non-correlated stores of value, and supporting the arts has never been more convenient for crypto-holders.
For those who were not able to attend the event, Vice News brought a camera crew to show the world what’s happening with blockchain and art. The feature has appeared on HBO and will soon be available on YouTube. Motherboard described the event as a “Revolution per minute”.
We are incredibly appreciative of this community and are thrilled to see the innovation that comes next. Eloquently stated at the Ethereal Summit, now is the time for:
“The End of the Starving Artist” — Beatriz Ramos, DADA.nyc
We’d like to thank again all who made the Live Art Auction a success.
To learn more about Codex initiatives, download our white paper. To inquire about partnerships and developing dApps using the Codex Protocol, please contact us via Telegram or Twitter.
by: Adrienne Burke-Moran, Codex
Nothing herein constitutes an offer to sell, or a solicitation of an offer to buy, in any jurisdiction in which it is unlawful to make such an offer or solicitation. Neither the U.S. Securities and Exchange Commission nor any other federal, state, or foreign regulatory authority has approved an investment in the matters contemplated herein.
