Crypto Art Sells for $100,000 on Async Art Platform
A crypto art piece by Matt Kane, titled 'Right Place & Right Time,' has sold for $100,000 on Async Art, a platform for programmable art that evolves over time. The artwork changes daily based on Bitcoin price volatility, using 24 layers synchronized with the previous day's price action. The buyer paid 262 Ethereum. This sale marks a record for crypto art, surpassing the previous $55,000 high. The work is an NFT (non-fungible token) on the Ethereum blockchain, ensuring provenance and scarcity. Collector TokenAngels sponsored the project, receiving 21% of future NFT and print sales. Only 210 editions of this NFT will be minted. The piece is set to be presented in Rome on October 20 at the Renaissance 2.0 conference curated by Eleonora Brizi, featuring artists like Hackatao. Kane, originally an oil painter turned web developer, describes crypto art as an emerging movement leveraging blockchain for authenticity.
Key facts
- Matt Kane's 'Right Place & Right Time' sold for $100,000 on Async Art.
- The artwork changes daily based on Bitcoin price volatility.
- The sale was paid in 262 Ethereum.
- Previous crypto art record was $55,000.
- TokenAngels sponsored the project and receives 21% of future sales.
- Only 210 editions of the NFT will be minted.
- The piece will be presented in Rome on October 20 at Renaissance 2.0.
- The conference is curated by Eleonora Brizi and features Hackatao.
Entities
Artists
- Matt Kane
- Hackatao
Institutions
- Async Art
- TokenAngels
- Renaissance 2.0
- Complesso di San Salvatore in Lauro
Locations
- Chicago
- Rome
- Italy