03/08/21

How Far is Museum from the Cryptosphere?

Are You Ready to Collect Museum Art through NFTs?

Collecting Caravaggio, Van Gogh and Monet through NFTs (Non-Fungible Tokens) is one of the most disruptive and bizarre occurrence in today’s art world, along with Beeple’s ongoing auction at Christie’s, offering a purely digital artwork (NFT) first of its kind in the history.

Conventional vs NFTs

Although Provenance and authenticity is the common ground between a conventional piece of art and NFT art, the aesthetics and financial liquidity is of a world of difference. According to Artnet, the top 3 most expensive works of art sold at auction in 2020 were Triptych Inspired by the Oresteia of Aeschylus (1981) by Francis Bacon, at $84.6 million; Ten Views of a Lingbi Rock (1610) by Wu Bin, at $76.6 million; and Nude With Joyous Painting (1994) by ​Roy Lichtenstein, at $46.2 million; while the top 3 most expensive NFT artworks so far were CROSSROAD by Beeple at $6,600,000.00 (3,693.072 ETH); THE COMPLETE MF COLLECTION , also from Beeple, at $777,777.77 (435.211 ETH); as well as The EverLasting Beautiful by FEWOCiOUS fewocious | parrott_ism | odious | jonathanwolfe, at $550,000.00 (307.756 ETH), according to cryptoart.io.

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How Far is Museum from the Cryptosphere?

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