THIS CRYPTO-ART ROSE IS THE MOST VALUABLE VIRTUAL ART, SOLD FOR $1 MILLION

February 21, 2018 by Dunja Djudjic Add Comment

While some of us still struggle to embrace the concept of cryptocurrencies, the others are taking a step forward and merging it with art. Artist Kevin Abosch brought blockchain technology and photography together and created a piece of digital art titled Forever Rose. The artwork was based on Abosch’s photo and sold for $1 million worth of cryptocurrencies, which makes it the world’s most valuable virtual artwork ever sold.

The Forever Rose project is a result of a personal collaboration between Abosch and Andy Tian, founder of GIFTO – Decentralized Universal Gifting Protocol. It started as a celebration of Valentine’s Day, as explained in the press release. The earnings from the sale will be donated to charity, which makes the Forever Rose “the historical merging of blockchain technology, fine art, and charitable causes.”

Reportedly, there were over 150 potential buyers interested in buying the Forever Rose. The decision was made to select ten buyers and a ballot was held to determine who they would be. These are the ten buyers who invested in this crypto-art:

• ORCA Fund, the premier digital asset fund in Asia
• Future Money and Ink, a leading blockchain investment fund and IP asset exchange
• Node Capital and Jinse Finance, a leading crypto fund and financial media in Asia
• TLDR Capital, a leading blockchain advisory firm
• Project Boosto, power global influencers with their own dApps and tokens
• Project DAC, a platform for decentralized interactive audio
• Project Nebulas, a search framework for blockchains
• Project Caring Chain, a decentralized charitable cause platform
• Meng Zu, a leading crypto investor in China
• 1 collector who wishes to remain anonymous

As explained in the press release, the cost of the Forever Rose was split among the 10 buyers evenly. Each buyer paid US$100,000 in cryptocurrencies and received 1/10 of the ROSE token. They can choose what to do with their portion: they can hold it, sell it, or give it away as a gift.

Abosch and the GIFTO team have decided to donate all the funds from the sales to The CoderDojo Foundation. Their mission is to help children around the world learn coding skills for free and “be creative with technology in a safe and social environment.”

Other than creating the most valuable crypto-artwork ever sold, Abosch has merged blockchain technology with another project of his. IAMA Coin project combines virtual and physical artwork with the artist’s own blood.

Some call cryptocurrencies “the future of money.” The others, like Kevin Abosch, take it even further and merge it with art. Still, some comments read that the Forever Rose should have actually been a tulip.

https://www.diyphotography.net/crypto-art-rose-valuable-virtual-art-sold-1-million/