Crypto-artwork of a rose sells for $1 million [CNN]
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Source: CNN
Crypto-artwork of a rose sells for $1 million A piece of crypto-artwork sold for $1 million on Valentine's Day. The digital photo of a red rose sold to a group of 10 collectors who split the cost evenly in cryptocurrency. This is thought to be the highest price ever paid for virtual artwork. The project, called the Forever Rose, was produced by artist Kevin Abosch and GIFTO, virtual gifting platform on blockchain -- a digital ledger. It's the technology that supports cryptocurrencies such as bitcoin, but in this case it's hosting a digital picture. Crypto-art is a new market. While you can't touch the artwork or hang it in your home, collectors can choose to hold their "rose token," sell it or give it to someone for a special occasion. It's an abstract concept designed to get people thinking about how blockchain technology could be applied to the art world, according to a press release from both parties. Related: These Valentine's Day roses cost $39 each but last an entire year
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