Christie’s To Auction Its First Non-Fungible Token Artwork

Christie’s auction house is planning to sell Bitcoin-inspired artwork in an upcoming auction. Upon the successful sale of the art piece, it would be the first non-fungible token artwork to be sold by the fine art auctioneer.

Called the “Portrait of a Mind,” the artwork was created by blockchain artist Robert Alice. Notably, the Portraits of a Mind is the largest work of art in the history of blockchain technology. The project also combines 40 paintings stretching more than 50 meters long.

In addition, the Portrait of a Mind has part of the transcription of the 12.3 million digits of code that launched Bitcoin. As revealed by Alice, one owner will not hold all of the code as it is distributed across the 40 painting:

“In each work, an algorithm has found a set of hex digits that together are highlighted in gold. These read a set of coordinates that are unique to each painting. Forty locations across 40 paintings – each location is a particular significance to the history of Bitcoin.”

According to a CoinDesk report, the first 20 paintings, Blocks 0-20, were privately offered to collectors in the crypto industry. Some of the collectors include Binance CEO Changpeng Zhao, Bloq chairman Matthew Roszak, and Coinscrum founder Paul Gordon.

Now, the last half of the painting will be auctioned at Christie’s in New York on the 7th of October. Before then, the artwork would be displayed in the house galleries beginning from the 1st of the same month.

Also, Christie’s said that “Block 21” will be up for sale and would cost between $12,000 and $18,000.

Image Credits: Pixabay