This is crypto art, a new discipline that grows by millions in the wake of bitcoin and the blockchain

17/06/2021 – 16:09

Javier Arrés is a Spanish artist who in little more than a year has gone from having 300 euros in his checking account to almost a million, according to what he told the television program Zapping of laSexta. An exponential growth that has been achieved thanks to a new artistic discipline, the so-called crypto art, which grows under the shelter of blockchain technology and cryptocurrencies.

What is crypto art?

It is a new creative aspect that focuses on the production of digital art, but ensuring its authenticity under technology. blockchain, a chain of encrypted and decentralized blocks that do not depend on the control of a third party but on the management of the users themselves. The most paradigmatic case is that of cryptocurrencies, whose purpose is economic. However, in the world of crypto art this system is used for the acquisition of an authorship between two people: A and B.

How does crypto art work?

The telecommunications services company Lowi explains that the path of this discipline begins when an artist transforms his work into crypto art, that is, taking his work to a parallel and virtual world. After the process, this creation is protected and encrypted, thus guaranteeing both its authenticity and its authorship. What happens when someone buys a piece of Crypto Art? That he buys something non-material. That is, it is not like someone who goes, for example, to the ARCO Art Fair and pays millions for a work that they take home after that exhibition.

Other Spaniards leading the crypto art

Javier Arrés is not the only Spaniard who is succeeding in the incipient world of crypto art. A multitude of works in this sector with a Spanish accent went up for auction last May in NFT format (non-fungible token) in a gallery in Brooklyn (New York). One of them was The Empathy Muscle, a performance by the Spanish poet Marcos de la Fuente that unites the spoken word and technologies to create a hybrid three point zero that was later encrypted.

Once converted into cryptographic art, pieces like the one by Marcos de la Fuente became a digital asset hosted on an inimitable blockchain that can be bought with cryptocurrencies such as bitcoin, ethereum, doge or tezos. “Until now, digital could not be authenticated, it had no value. The possibility makes each piece unique. It is the true revolution,” he told EFE From the source.

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