SAN FRANCISCO, Sept. 21, 2020 /PRNewswire/ -- The record-breaking sale of Matt Kane's "Right Place & Right Time" on Async.art marks the first time a piece has sold for more than $100,000 in cryptoart movement. A historical sale for an art-based non-fungible token (NFT), it signals the emerging market is gaining traction despite uncertain economic times.
The artwork is a one-of-a-kind programmable piece that generates a new image each day. Made of 24 Layers synchronized with Bitcoin's price volatility from the previous 24 hours, it was created exclusively on Async Art.
With the patronage of TokenAngels, the artwork's collector, the artist gained an unique opportunity to experiment: sharing revenue with a collector in the form of subsequent minted variations of the artwork. Through volatility.art, Matt Kane will periodically produce and sell a digital art NFT to represent a day in the life of Bitcoin. This NFT will also grant its owner the right to purchase a physical print.
"As a nod to Bitcoin's 21 million fixed supply, the collector receives 21% of the individual NFT and print sales. Only 210 NFTs will be minted. Our partnership, a first between artist and collector, is one we hope inspires future partnerships, which will continue to innovate upon and strengthen this new model we've birthed," says artist Matt Kane.
Estimated to run for the next 10+ years, this promises to become one of the longest running art collaborations. One day at a time, "Right Place & Right Time" could become one of the most significant pieces in the cryptoart movement.
Our press media kit includes media contacts, additional high-res images and a letter for the cryptoart community.
About the Artist
Matt Kane is a Chicago born artist whose oil paintings granted a successful entry into the collectors' driven market back in 2004. As a self-taught programmer, he designs the custom software with which he produces his vibrant, infinitely detailed and multilayered artistic visions.
Predominantly figurative, his current practice addresses and reworks the most varied subjects, from Victorian family pictures to contemporary icons, coating them in intricate, audaciously coloured patterns. In his own words, Kane is "interested in exploring historical aesthetics with code; to do with geometry what the great painters did with oils."
Bio credit: Chiara Braidotti - MOCDA
Async Art is a new art movement built on the blockchain. Create, collect, and trade programmable art: digital paintings split into "Layers", which you can use to affect the overall image. Art that can evolve over time or react to its owners is now possible with programmable art.
Launched in February 2020, there has already been over $2,300,000 exchanged on the platform and over $400,000 in artist sales.
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SOURCE Asynchronous Art, Inc