Artistic creation combined with cryptocurrency redefines value thinking.

Pooja193

Artist Andy Bauch has launched a new series of artworks, each containing a private key, but buyers must solve the puzzle themselves.
"New Money" was created using 100,000 LEGO bricks and $10,000 worth of cryptocurrency. Clever individuals can decode the patterns to retrieve the corresponding cryptocurrency from the artwork. The works are displayed at the Castelli Gallery in Los Angeles, composed of colorful LEGO blocks. Each painting is priced between $1,500 and $1,800, with different names and different cryptocurrencies and quantities included. On the New Money website, there are wallet links for each artwork, allowing you to see if the tokens have been withdrawn. The names of the artworks are intriguing, such as "Bitcoin Initial Value $20," "Bitcoin Initial Value $30," "Bitcoin Initial Value $40," "Litecoin Initial Value $250," "Litecoin Initial Value $10," and more, with a total of five cryptocurrency series.

The cryptocurrency value inside each artwork does not necessarily equal the selling price. Bauch bought various cryptocurrencies in 2016 and used an algorithm to convert the keys into abstract patterns and create the artwork. He became interested in cryptocurrencies in 2013 and wanted to bridge the gap between new technology and humans through art. Bauch mentioned in an interview that buyers of these works will receive a clue from him.
This is not the first time someone has created art based on cryptocurrency. In 2015, Rob Myers and Twitter user @coin_artist created a painting worth $50,000, and three years later, in February 2018, someone successfully cracked it and took away 5 bitcoins.

Bauch's work may represent a modern art implication. He once commented in 2013 that he should have bought more bitcoins, regretting that he was not smart enough at the time.
Cryptocurrencies and art may have some similarities in terms of value assessment. Art investors and collectors cannot evaluate the value of art assets like traditional assets, based on potential gains, risk assessment, etc., but rather predict future value through taste, hype, and market preferences. It feels quite familiar, perhaps more and more friends from the traditional financial world are starting to discuss cryptocurrencies with you and challenge this nascent field with their professional investment analysis. At that time, you may be able to tell them, I invested in a piece of art!