IoT + (fine art x ethereum)3 = crypto currency asset backed derivative
With all the buzz around #blockchain and its unlimited uses and disruption, how is the world of art using this technology? Three compelling utilization in the art of cryptography are the Artofethereum, Opensea.io, and Mintbase.io. Together, these three technologies you can acquire, create, authenticate, and enjoy your very own crypto currency asset backed derivative. That’s a beautiful mouthful. The blockchain revolution is given rise to some profound realizations of this unique and revolutionary technology. This is a period of fast paced progression.
First, “001” was designed by Justin Van Genderen to be a pause for a breath; an artifact which denotes a specific moment in history. “With its bold, yet sophisticated and mesmerizing use of lines and space. 001 symbolizes the interconnected network nodes and the seemingly perpetual #Ethereum blockchain’s past, present, and future. 001 is tame yet avant-garde and serves as an irresistible conversation piece, worthy of display anywhere.”
Secondly, there is Artofethereum where, 001 is a living, breathing work of art. OK… Well not living or breathing in a biological sense. Albeit, the 24×48 001 print has a home other than my wall, an address on the Ethereum blockchain.
The Essence of the Internet of Things #IoT. Each of the only 20 prints contain its own NFC chip which provides it with a unique cryptographic identity. This crypto identity allows anyone to verify and utilize data such as the creator or print number and to definitively identify and authenticate each piece using the tamper-proof transaction hash and time-stamp, courtesy of the Ethereum blockchain. And you can scan it with an android app.
Thirdly, Opensea.io is an open blockchain platform to democratize the world of art. You can own shares of already famous art works, or register your own works of art. Here is where it gets really interesting. “Once an artwork is listed on the platform, the art owner becomes the legal custodian of the NFT asset. As an investor, you acquire asset-backed certificates that give you financial participation in the art piece. The certificates are protected by a strong cryptographic framework that guarantees your rights over the asset while it remains in expert hands to guarantee its safety and proper care.”
Finally, purchase said artwork using the actual crypto-currency ETH. This cryptographic seals all three transactions into the Ethereum blockchain forever. In addition, one could perhaps imagine sending some ETH to the artwork, where the artwork could also increase in value with the currency.
Justin Van Genderen produced 101 “Art/Ethereum” which may still be for sale (minus one)
Astir Technologies is focused on applied machine learning, blockchain, advanced visualization, and data science solutions for blockchain, which we believe hold the most promise for future improvements to cryptographic technologies. Research and development focuses on new and emerging technologies to create a vision and applied methods of how technology will transform our future. We innovate and turn technology into advanced business solutions.