This portrait of Vitalik Buterin—Ethereum’s founder— dressed in medieval jester attire, smirking as he relaxes on an antique amidst a backdrop of what looks like ethereum-blossoming vines may look odd at first. But, what may shock you more is that this programmable NFT crypto art sold for a recording-breaking 260 ETH (approx. $151,320).
What Makes this the Most Expensive and Unique Crypto Art Ever Sold?
Its technical innovations and continuously changing value, making it a representation of Ethereum as an NFT (non-fungible token).
How Was it Made?
Crypto artists, Jones and Alotta Money, created the digital piece called EthBoy using a layering technology on the developer platform Async Art. This allows the art to change over time according to several factors: ETH price variations, the price of gas, and even milestones like Buterin’s birthday and Ethereum’s anniversary.
Who Bought the Art and Why?
Although the art morphs day by day, there is only one original version. This version was auctioned off and bought by Twitter handle @Maxstealth5. However, the lucky winner isn’t just an art-enthusiast or an Ethereum admire, they are an investor.
How Does the Art Turn a Profit?
Both the artists and the owner of the art will earn money off of the variations of the original. That is, twice a year for 5 years the new digital versions of the NFT will be auctioned as individual NFTs on the OpenSea crypto market. A small portion of the proceeds will go toward further development of the transitional art.
Artists’ Other Work
Jones and partnering artists have sold a number of other pieces (shown on his website here) over the last few months, notable the paintings Picasso’s Bull and a Batman collaboration which sold for 302 ETH. However, EthBoy is the most profitable digital artwork, especially with the rise of Ethereum over the past few days.