Paris Hilton sold a digital painting in the form of a non-fungible token. This is Paris’ first-ever NFT, a hand-drawn portrait of her cat called Munchkin.
The auction price is 40 ETH (worth about $17,000), sold on the Ethereum-based auction platform Cryptograph.
How much are you willing to pay for a digital artwork from icons or artists you admire? Here’s another example.
The first artwork on Cryptograph was created by Vitalik Buterin, founder of Ethereum. It’s sold for 77.35 ETH (worth about $33,200) on July 11. And this cryptograph supports the Gitcoin QF Fund, who helps fund open source projects for the public benefit.
You might wonder how this bidding and the donation work on the blockchain. Let’s have a look at this Ethereum dapp Cryptograph.
Cryptograph is a marketplace to auction digital creations made by icons and artists. The Cryptograph platform is built on the Ethereum blockchain and all data, ownership records, and transactions are processed securely by smart contracts.
Every piece of digital art is an ERC721 token stored on-chain and applies the ERC-2665 transfer function extension. So it’s 100% owned by its collector and cannot be forged.
Currently, there are 3 galleries listing the artworks: Gallery A contains the early creations by some of the most prominent innovators and builders in the crypto sphere, such as Vlad Zamfir (researcher at the Ethereum Foundation and Casper Labs), Rune Christensen (founder of MakerDAO), etc. Gallery B and C contain paintings supporting the environment and some Covid-19 related causes. It features works from various Hollywood film stars and TV stars including Skeet Ulrich, Seth Green, Erika Christensen, and more.
The fund raised from cryptographs will be used to support charitable causes according to the wills of the graph creators. Every time a Cryptograph is transacted, the money will be automatically donated.
Cryptograph can be interpreted as a combination of Crypto, celebrity, and charity. It demonstrates how blockchain technology could contribute to the cause of public good.