What kind of art can one really get for $450 million nowadays? The painting that sold for that amount at Sotheby’s last year was determined to be enough of a Leonardo to warrant the enormous price tag. In today’s art market, it’s actually the not knowing that can drive up the numbers.
Digital art has little of the aura of a Leonardo, but it has just as much of a problem with provenance: it can be repurposed, copied, or straight-up stolen. It’s a unique problem, and the blockchain might be the solution.
At The Paris Review, Daniel Penny attends the first Rare Digital Art Festival (“aka Rare AF, aka Rare as Fuck”) and finds that limited edition crypto collectibles represent a rare thing in the volatile crypto market: a move towards stability. One of the more popular memes, Cryptokitties, has proven to be more than a joke; its…
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