Andy Warhol painting to be auctioned off for cryptocurrencies

10 June, 2018, 17:58 | Author: Cecil Buchanan

In fact, the sale of digital certificates relating to the piece on the block - "Fourteen Small Electric Chairs" - will effectively created a blockchain secured crowdshare, allowing investors their own slice of the art world. It is the first time that a work of art from an internationally renowned artist will be sold using blockchain technology. Further, for the goal of facilitating the auction, Maecenas has announced its partnership with Dadiani Fine Art, a member of the Dadiani Syndicate. From a buyer's perspective, this means that owning such a portion would not present them with any true autonomy over where the painting is located, however, the buyer would be eligible to receive payment if the painting is ever sold again.

Maecenas is an art blockchain platform enabling fractional ownership of artworks. The Dadiani Syndicate, an upscale platform for investment into different market areas, works with Bitcoin, Ethereum, and Litecoin. The final price of the painting will be determined by smart contracts run on the Ethereum blockchain. We are proud to be pioneers in this space-this is the result of many years hard work. This Warhol is the first artwork of many more to come.

'We're starting this exciting journey alongside our strategic partner Dadiani, who not only fully supports our vision but also plays a key long-term role in helping us transform the art market'.

If you've ever dreamed of owning a Warhol, and have a bit of cryptocurrency tucked away in wallet somewhere, now could be your chance. This is not a divisive strategy but a win-win for all. Blockchain technology can significantly revolutionize the art world when it comes to authentication, as forgeries make up for about 40 percent of the artworks in market circulation.

Melania Trump Denies Talking Stormy Daniels Scandal With Rudy Giuliani
Later, according to the lawsuit , Cohen texted that the "wise men" decided it wasn't "smart for her to do any interviews". But Melania Trump's spokeswoman, Stephanie Grisham, said in response to Giuliani's remarks: "I don't believe Mrs.


Trump talks tariffs, NAFTA and G7 relationships as he leaves summit early
Mr Trump left the summit early for Singapore, where he will meet North Korean leader Kim Jong Un next week. Trump also railed against French President Emmanuel Macron , after Macron likened him to a rogue leader.


Come watch EA's E3 2018 press conference with us!
A live demo showcased some new fast-paced, danger-filled chase sections, with a bird chasing our poor yarn-based heroes. More so when you consider that EA doesn't really have any big games slated for that time of the year.


"We aim to render the future of fine art investments to global reach".

The reserve price of 14 Small Electric Chairs (1980) is to be set at $4m / £3m.

Even though this is not the first time an art piece is bought via cryptocurrency, it is regarded to be the most expensive and most high profile.

Along with Warhol's Campbell's Tomato Soup Can, Green Coca-Cola, Dollar Bill and Marilyn Monroe, the Electric Chair is one of Warhol's most iconic images. The event will take place at fintech-welcoming United Kingdom gallery Dadiani Syndicate on June 20, where an Andy Warhol painting will be sold using blockchain technology.

Recommended:

  • United Kingdom  calls on Israel to conduct ‘independent inquiry’ into Gaza deaths

    United Kingdom calls on Israel to conduct ‘independent inquiry’ into Gaza deaths

    It said that the plan involved sneaking in an operative from Jordan and that "significant terrorist activity" was foiled. It said on Tuesday that Mahmad Rashdeh had also collected intelligence on his Syrian handler's behalf to target the U.S.
    LeBron James' ex-teammate, Chris Bosh, thinks he'll join Rockets this summer

    LeBron James' ex-teammate, Chris Bosh, thinks he'll join Rockets this summer

    Yet it doesn't seem unreasonable, based on what we saw in the first two games, to ask whether the Cavaliers could win even one. That's what happens when the best basketball player in the world runs into arguably the greatest team ever concocted.
    Trump Kim summit: Who's pulling the strings?

    Trump Kim summit: Who's pulling the strings?

    He also indicated that South Korea , China and Japan would be prepared to invest in the North to boost its besieged economy. Monday Eastern time - at the Capella Hotel on the resort island of Sentosa off Singapore's southern coast.
  • Tyson Fury beats Sefer Seferi in comeback fight

    Tyson Fury beats Sefer Seferi in comeback fight

    We picked Seferi because he had gone ten rounds with Manuel Charr. But he took me a few rounds, which I was more than happy with. He didn't come to fight, he came to run around the ring.
    G7 commits to 'rules-based trading system' despite tensions with US

    G7 commits to 'rules-based trading system' despite tensions with US

    Trump's about-face sparked dismay and anger among Canadian and American free trade advocates alike. Russia, meanwhile, has much to gain from Trump's comments.
    USA  retailers welcome Congressional move to rein in tariffs

    USA retailers welcome Congressional move to rein in tariffs

    Lindsey Graham, R-S.C., who was one of a handful of Senate Republicans who met with President Trump Wednesday to talk trade, said. That bill also is backed by Sens. "I actually assume ZTE is an even bigger nationwide safety menace than metal from Argentina.
  • India beats Pakistan by 7 wickets in Women's T20 Asia Cup

    On the other hand, Shikha Pandey, Anuja Patil, Deepti Sharma and Poonam Yadav chipped in with one-wicket each. India women's team are rolling with their high confidence and performance in the Women's Asia Cup T20 trophy.
    Alleged Xiaomi Redmi Note 6 Appears In A Real-Life Image

    Alleged Xiaomi Redmi Note 6 Appears In A Real-Life Image

    I haven't seen any slowdowns on the Redmi Y2 , and I've been using the version with 3GB of RAM and 32GB of storage . Under the hood is a Qualcomm Snapdragon 625 octa-core SoC that is well known for its performance and battery life.
    The New Command and Conquer

    The New Command and Conquer

    Rivals , players choose a Commander to lead their forces, each with his own abilities that can influence the gameplay style. Players will mine tiberium and spawn as many units as possible to hold onto these zones by any means necessary.
  • Organizers Preparing To 'Light The Night' At June 16 Relay For Life

    Organizers Preparing To 'Light The Night' At June 16 Relay For Life

    Ayla was inspired to do all of this in honour of her twin sister Arwen, who lost her battle with brain cancer at three years old. After the ceremony, they will have a survivors lap where cancer survivors and caretakers will walk to celebrate them.
    Lyon end talks with Liverpool over Fekir transfer

    Lyon end talks with Liverpool over Fekir transfer

    Fekir is one of the best attacking players in Europe who would be a great signing or Liverpool in the summer transfer window. The Reds were expected to complete a deal for the 24-year-old former Saint-Priest frontman.
    Theresa May and Jeremy Corbyn face rebellions from backbenches

    Theresa May and Jeremy Corbyn face rebellions from backbenches

    Mrs May wants to leave the court's jurisdiction, although with some exceptions. The LBC host was critical of Mrs May's exchanges with the Labour party leader.


Popular

French Authorities Release Statement On Anthony Bourdain's Passing
"Every time he would walk on set I would always shout at him, 'In my next life I'm coming back as Anthony Bourdain!'" she said . Following the shocking death, many celebrities, including his girlfriend, took to social media to remember the chef.

E3 2018: BioWare Intends to Return to Mass Effect in the Future
Since other players will only ever see you decked out in your mecha armor, you'll obviously want to make it as rad as possible. It's an interesting move by BioWare, which seems to be positioning Anthem as the most story-rich of the big hobby games.

Generation Zero’s Announcement Trailer Introduces Four Players Against Deadly Machines
And since the robots are roaming the landscape looking for you, it might not be too long before you run into them again. By tactically combining weapons, skills and equipment, you'll be able to lure, cripple, and destroy your enemies.

Trump slams Trudeau's post summit remarks as 'very dishonest & weak'
On climate change, the G7 failed to find consensus after the United States withdrew from the Paris climate accord past year . On 1 June, the USA imposed a 25% tariff for steel and 10% for aluminium on imports from the EU, Canada, and Mexico.

China, Russia, Mongolia vow to strengthen cooperation
Putin, however, voiced his support for Trump's summit with North Korean leader Kim Jong Un in Singapore on Tuesday. Rouhani also extended his appreciation to Beijing and Moscow for continuing their support of the nuclear deal.

Listen to Kanye West & KiD CuDi's 'KIDS SEE GHOSTS' album…
Kid Cudi returned the favor and appeared on West's album 808's & Heartbreak as well as his recent track " Ghost Town" from ye. It would make sense that this song is "4th Dimension", and that the opener is actually "Feel the Love".

Donald Trump asks United States representatives not to endorse G7 Summit communique
Trudeau said he "accepted" the long USA explanation in the statement about how Washington did not back the Paris agreement. The President lashed out at European Union states for treating the U.S. like "a piggy bank hat everybody's robbing".

BT boss Gavin Patterson stepping down later this year
When you devise a strategy which has the "full support" of the board then you expect that you will be around to execute it. BT's chief executive , Gavin Patterson, is to step down after the company said a change of leadership was needed.

Frays in that Social Security Blanket…
Some Republicans say that will change if promised economic growth from tax cuts boosts government revenue. The trustees include Treasury Secretary Steven Mnuchin and Health and Human Services Secretary Alex Azar.

After 12 Quiet Innings, Aaron Judge’s Blast Lifts the Yankees
Yankees starter Sonny Gray held the Blue Jays to two hits and two walks and had eight strikeouts in eight scoreless innings. Conine joins Vladimir Guerrero Jr., Bo Bichette, Cavan Biggio, Kacy Clemens and Dwight Smith Jr., in the Blue Jays system.