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Auction house with 250 years of history offers a collage tokenized in Ethereum

Key facts:

Famous auction house Christie’s will accept ethers as a form of payment.

Months ago the British house sold a physical painting that recreates the founding code of Bitcoin.

Christie’s, a famous auction house with more than 2 centuries of history, will put out its first work of digital art tokenized on the Ethereum blockchain. From February 25 to March 11, it will offer as a single lot for sale a non-expendable token (NFT) with a collage of 5,000 pieces created by artist Mike Winkelmann, also known as Beeple.

The art created exclusively for Christie’s is listed by the auction house as “a unique work in the history of digital art.” Collect the images that Beeple created every day for 14 years (2007 to 2021) and now as a unique piece, he has titled “Every day: the first 5000 days.”

On its website Christie’s details that it coined the NFT on February 16, 2021 on the Ethereum blockchain. It also indicates that it is a work of 21,069 x 21,069 pixels (319,168,313 bytes). This in the physical world would represent a gigantic 100 square meter mural or roughly 2 Olympic swimming pools.

The auction house also informs that the initial offer is set at USD 100 and that it will accept Ethers, the cryptocurrency of Ethereum, as a form of payment.

Until the moment when Christie’s became interested in auctioning a work by who it considers to be “one of the world’s leading digital artists”, Beeple was exhibiting his works on platforms such as Nifty Gateway, a blockchain-based marketplace to access some of today’s most sought-after fine art and digital collectibles. It was there that the artist sold his collection of 21 original works in December of last year, generating $ 3.5 million in cryptocurrency, as noted on the Unchained podcast.

The success of an artist reached just two months after having known cryptocurrencies, was not something that went unnoticed by the auction house. Above all, after face a year in which galleries and museums closed their doors as an effect of the Covid-19 pandemic.

Christie’s tokenized in Ethereum a collage with the 5,000 pieces that the artist Beeple created, every day, for 14 years. Source: christies.com

Tokens, Bitcoin and blockchain in the evolution of art

While Beeple’s work will be the first NFT-based work to be auctioned by Christies, it is not his first auction related to the blockchain world. In october of last year Christie’s sold for $ 131,250, a work called Block 21 o Block 21, which was a physical painting together with a NFT, thus obtaining more than 10 times the estimated value for sale.

Block 21 is part of Portraits of a Mind, a global artistic project that recreates in 40 fragments, what would the founding code of Bitcoin look like in the physical world. This is said to be the largest work of art in the history of blockchain technology, with 40 frames over 50 meters long. Each of the 12.3 million digits of Satoshi Nakamoto’s version of the original code has been hand painted, and each painting contains 322,048 digits of the code.

The NFT was developed by the specialists at NFT Async Labs. It is described as a work with a “space-time” connection, meaning that the digital component of the art is only visible during the day, within the time zone in which it is located geographically.

So while galleries and other spaces traditionally dedicated to exhibiting works of art are closed in the physical world, the metaverse creates new places to house them. As reported by CriptoNoticias last year, one of these settings is located in Decentraland, the decentralized virtual universe, where the Argentine José Delbo, a renowned artist of the figures of the golden age of DC Comics, exhibited his works.