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Will cryptocurrencies be the art market’s next big thing?

by
Scott Reyburn
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Cryptocurrencies in the art world

Olivier Sarrouy devised an experiment to explore how a cryptocurrency could relate to scarcity in the art market. “Ready Made Token” was auctioned as a unique unit of a cryptocurrency made from Ethereum’s technology and attracted four bidders.

Turning memes into blockchain assets

  • CryptoKitties, a company that facilitates the trading of virtual cats, has attracted almost 37,000 Ether in transactions.
  • Digital collectibles have gained popularity in the analogue art world.
  • Cryptocurrencies have little utility; now the blockchain can be used as a medium for art.
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