A blockchain crypto-art rose titled `Forever Rose` has been sold to a collective of investors for cryptocurrencies with a value equivalent to $1,000,000 USD. The collective is composed of 10 investors, each of whom contributed an equal amount toward the digital rose. The artwork is based on Kevin Abosch`s photograph of a rose and was created by Abosch and GIFTO, a decentralized universal gifting protocol.
Blockchain technology is behind cryptocurrencies like bitcoin and rights management platforms like KODAKOne. The tech can also be used for art, as demonstrated by Abosch with `Forever Rose.` Abosch previously sold an image of a potato titled `Potato #345` in 2016 for more than $1 million.
More than 150 buyers expressed interest in the Forever Rose, according to a press release detailing the sale. Ten collectors were ultimately chosen using a ballot-the buyers include ORCA Fund, Chinese crypto-investor Ms. Meng Zu, blockchain advisory firm TLDR Capital, and others. Payments were made in IAMA and GTO-by-GIFTO cryptocurrencies, with each buyer paying the crypto-equivalent of $100,000 to get 1/10 of the ROSE, an ERC20 token on the Ethereum blockchain.
Forever Rose is believed to currently be the most valuable virtual artwork in the world. The buyers can choose to hold onto their rose tokens, sell them, or give them away. Abosch and GIFTO will donate the sale proceeds to The CoderDojo Foundation, which provides kids around the world with the opportunity to learn coding skills for free.
Press Release
World´s Most Valuable Crypto-Artwork Sells for US$1 million
HONG KONG, Wednesday, February 14, 2018 - IN CELEBRATION of Valentine´s Day, the Forever Rose, a crypto-art project produced by world-renowned visual conceptual artist Kevin Abosch and blockchain universal virtual gifting protocol project GIFTO, sold for US$1 million worth of cryptocurrency to a group of 10 collectors.
With the sale, the Forever Rose is now the world´s most valuable piece ...
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