How Cryptocurrency and Blockchain Tech are Changing the Art World

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Financial industry is not art blockchain news only one to be interested in blockchain technology and implement it. The art market also realized the potential of this new technology. After all, it can help find solutions to the main problems that arise in this area, among which the authenticity of works, copyright and transparency, writes Cointelegraph.

Blockchain technology and cryptocurrencies inspired many artists to create paintings. Init was sold at a well-known eBay internet auction for 4. According to the author, bitcoin plays the same role in the world as Art blockchain news - he art blockchain news changed the world, some worship him and some ignore.

Blockchain is used in street art as well. Inart blockchain news the Moniker Art Fair, people started accepting bitcoins for the first time. Art blockchain news fair put up a meter interactive Renaissance today installation, which gave visitors the opportunity to learn new facts about cryptocurrencies.

Also, everyone could use the bitcoin ATM. Also, a "virtual artist" was created with the help of decentralized technology. The project was called the Scarab Experiment. Scarab is a public artist without a personality. It will create paintings based on the works of community members. To become a member of the Scarab Experiment, one must have at least one Scarab token. After the painting will be sold, all token art blockchain news will be rewarded. Blockchain did not leave museums and art galleries without attention as well.

Works of the artist Svetlana Smirnova helped demonstrate the new way of communication developing in art. Each work had an open digital certificate VerisArt, based on blockchain technology. Some galleries already sell paintings for digital money. The institution accepted 6 virtual currencies for payment, including bitcoin, Ethereum and Litecoin. Nevertheless, blockchain influenced digital art the most. Digital artists have a lot of problems with copyright and the authenticity of art blockchain news.

Some startups, including Monegraph, Ascribe, Verisart, use distributed ledger to create apps that help artists protect their work from plagiarism. Blockchain also changes the approach to collecting paintings. For example, the Maecenas startup creates digital certificates for each piece of art using distributed ledger.

Investors can buy and sell them at any time via the Maecenas exchanger. Soon the authors of the project intend to announce the list of paintings in which people will be able to invest this way.

Main News Blockchain and art: Meet new speakers and key news of the conference. Contacts Oksana Marysenko Head of the project o. Eugenia Rolko For speakers e. Konstantin Shebzuhov Customer service support k. Aleksandra Yanko For exhibitors and sponsors a. Tatyana Chirva For exhibitors and sponsors t. Pavlo Machulianskyi For exhibitors and sponsors p. Valeriy Gordyna For exhibitors and sponsors v.

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TNW uses cookies to personalize content and ads to make our site easier for you to use. We have come a long way since the times artists depended on the patronage of kings and queens for their financial stability. But while galleries and art dealers have mostly replaced this ancient system, a new breed of crowdfunded services like Patreon and Ulule are now lending even more fiscal independence to cash-strapped artists.

Despite this liberating disruption in the artist-patron dynamic, such services pose the same risk to the financial security of creatives as the old patronage system, the revised art dealership model capitalism brought, and the crowdsourced funding alternative facilitated by the recent technological boom. Namely, that the artists are in a chronic threat of having their streams of income severed — at the drop of a hat. But thanks to blockchain tech and cryptocurrencies, creatives might have a new viable option to make ends meet without leaving their fiscal stability in the hands of profit-oriented dealers and corporations.

Boyart recently attracted the attention of the cryptocurrency community after one of his pieces made its way to the top of the Bitcoin discussion board on Reddit. Indeed, numerous Redditors flocked to salute him for his witty use of QR codes as a way of funding his work with Bitcoin donations from inspired passers-by. Influenced by the the vision of Satoshi Nakamoto and Bitcoin, Boyart has made cryptocurrencies and decentralization a central theme in his work.

In his paintings, Bitcoin becomes not only an integral part of the piece itself, but also the very method by which Boyart can profit from his creation. The QR codes are both his statement against the dangers of central censorship and his weapon of liberation. In this sense, his artistic fascination with the technology is two-fold: This, precisely, is the conundrum Boyart addresses in his mural of esteemed Dutch painter Rembrandt whose life was marked by severe financial hardships despite his undeniable talent.

Boyart first got acquainted with Bitcoin in early , but it took him four years to grasp the promise the technology behind it. Anyone keen on supporting Boyart and his art can find his donation address at his personal website here: Curious to see more of his pieces? Go check out his work on Instagram here. Published May 8, — May 8, — Mix May 8, —