Will the cryptocurrency explode the contemporary art market?

Treading Topic, currently on display at the Avant Gallery.

Three works by a young American artificial intelligence prodigy that sold for $ 150 each a few months ago reached $ 100,000 each by the end of 2020 … Thanks, Tech!

The art market is not a poet. Its venality even begins a phase of radicalization. As so often, a good feeling is the origin: the artist’s freedom in relation to the market – Matisse’s concern as early as 1905. This is how crypto art came about. This consists of creating a digital work, whether animated or not, and then putting it on a “blockchain” (1) to sell. The buyer can resell it on condition that 10% of the amount is returned to the artist. But like the cryptocurrency, the barely invented crypto art is in the hysterical movement of speculation. In this way, three works by young American artificial intelligence prodigy, Robbie Barrat, which sold for $ 150 each a few months ago, reached $ 100,000 each in December. Welcome to the wonderful world of technology!

The parable of Maurizio Cattelan and his banana glued to the wall said nothing else. The artwork is irrelevant, just the author’s signature to speculate about, as nothing but the encrypted and invisible signature distinguishes the original digital artwork that you store in a simple phone from any of the myriad of pirated copies available on the internet are. As for poetry, my poor soup, we can hope that it finds a little technological niche …

(1) A database that stores and transmits information, currencies (Bitcoin or Ethereum), stocks, contracts or now digital art with no middlemen.

From tulips to crypto daisies. Collective | Until March 6th, L’Avant Galerie Vossen, 58, Rue Chapon, Paris 3rd .. Telephone. : 06 60 22 25 02.

Will the cryptocurrency explode the contemporary art market?
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