Blockchain Technology, Andy Warhol and Alternative Investing
A frontline London art platform will let you invest in Warhol jams via cryptocurrencies and derivatives.
London-based investment platform Maecenas has teamed up with Dadiani Syndicate to slice and dice Warhol assets into liquid alternative investments so ordinary punters can own a piece of the pop artist’s lucrative oeuvre. Andy Warhol’s ‘14 Small Electric Chairs’ (1980 – above/below) is now available for speculation using Bitcoin, Ethereum and ‘ART’ (a cryptocurrency issued by Maecanas). Valued at about 850 Bitcoin (approximately $5.6 million dollars), the sponsors will let you take fractional ownership of the Warholian-backed instrument.
Using derivatives to spice up your portfolio, the underwriters aim to “democratize access to fine art” by providing liquid risk assets for traders and investors. “We’re making history. This event marks the first-ever artwork to be tokenized and to be sold using blockchain technology. We are proud to be pioneers in this space – this is the result of many years of hard work,” said Marcelo Garcia Casil, a technologist and the director of Maecenas. “This Warhol is the first artwork of many more to come.”
Utilizing Ethereum’s cryptographically solid ‘smart contracts’ as the auction architecture, the backers are the first to fuse art, crypto and blockchain into a tradable asset that we can all get exposure to so long as we pony up enough dosh. ‘14 Small Electric Chairs’ is one of Warhol’s most recognized works and has been showcased around the world as part of his ‘Reversal Series’ that reworked the 1960s ‘Death and Disaster’ collection.
At VIVISXN we don’t have much conviction in the whole cryptocurrency mania (sorry, bros). But blockchain infrastructure is obviously cool. We’ll be watching the flow of funds into this novel space. Good luck to Dadiani Syndicate and Maecanas! Learn more here.
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