9 Oct, 2019

In a First, Andy Warhol Painting Sold to Bitcoin Bidders

One part of the world wants to regulate cryptocurrencies and monitor their use among the community and the other part of the world, is already light years ahead when it comes to adoption of cryptocurrencies.

Famed artist Andy Warhol was a man who was way ahead of his time, but even he wouldn’t have seen this coming. For the first time in history, a Warhol art has been put on the blockchain and has been tokenized.

The art which is titled “Fourteen Small Electric Chairs (1980)”, is part of Warhol’s Reversals series and this tokenization was made possible by a cryptocurrency broker Dadiani Syndicate and digital investment platform Maecenas.

The founder of Dadiani Syndicate, Eleesa Dadiani, told news portal Express.co.uk, “I am beyond excited. I know we are standing in front of something that is huge. This is no longer just a theory or an experiment. We can see that the world is ready to accept certain industry changes. And it is a delicate process – we are not trying to bulldoze through – we want our values to be aligned with the current system.”

Dadiani, who is occasionally referred to as ‘Queen of Crypto’ said that the process was not brought about to disrupt the age-old traditions pertaining to art. She said, she wanted to ‘unprivatize’ art history- instead of shutting off artworks to general public, enable them to be owned by the general public through fractional ownership.

She said, “There are different ways of owning art. There is the possessive way of ownership where you have your beloved piece of work on your wall and it belongs only to you. Or there is the way of ‘un-privatising’ what is held privately and giving it back to the people and into the public domain.”

This small step, could someday, lead to a greater form of adoption in cryptocurrencies.