Cryptocurrency is becoming interesting and even real every day. The latest move is by Artist Andy Bauch with new painting series ‘New Money’ which combines art and crypto done by hiding abstract codes in his Lego art. The painting contain private keys to different wallets which contain as much as $9,000 worth of digital currencies each.
What surprised many is the fact that buying this piece of artwork does not mean that you now own the private key to the wallet. The private key is owned by anyone who figures out the code. By figuring out the code means that you now own all the money in that wallet.
The first exhibit was displayed at the Castelli Art Space which is in Lost Angeles on March 23-25 and contained a live feed of how the prices change based on the money of each private key. As at that time all the cryptocurrency appeared to be intact in each wallet which meant that no one cracked the wallet codes yet. All the painting have different values by range from $1,500 to $4,800. The price, however, does not reflect the value of its wallet holdings.
Bauch who is the main developer said that he came interested in cryptocurrency back in 2013. According to him: “Back then I was not smart enough to buy enough digital currencies.” He, however, began his journey by buying different currencies like Bitcoin and Litecoin in 2016. He then used the private keys from the two digital currencies to make an abstract pattern through an algorithm which allowed for a personal aesthetic change as long as it was able to keep the secret code valid.
Bauch believes that his work many times attempts to span the gap which exists between technology and humanity.
Blockchain technology has the ability to help artists in claiming ownership of their different projects according to the CEO of INK platform, Daniel Zhai. We interviewed him last year when he stated that there was a potential of developing a Blockchain platform which had the ability to help artists tokenize their projects which still creating a space for cryptocurrency crowdfunding.