Crypto artist sold his “I Can’t Breathe” art piece for crypto on a blockchain-backed social network.
Osinachi, a self-taught Nigerian digital and crypto artist, has sold his latest “I Can’t Breathe” digital art piece on May 31 for 7 Etherum (ETH), about $1,703 at press time on a blockchain art social network site SuperRare.
Funding goes to a cause
Osinachi’s piece reflects on the violence that unravelled in an American city of Mediapolis, and was sold in less than six hours at an auction. According to the artist, part of the proceeds will go to a notable cause. He stated that: “Part of the proceeds from this NFT will go to the Black Lives Matter movement.”
Osinachi was the first-ever Nigerian artist to showcase artworks at the Ethereal Summit in New York in 2018. He was also shortlisted for the Bridgeman Studio Award 2019.
As Cointelegraph reported previously, crypto art can be seen as an investment with just as much potential as any other cryptocurrency coins and tokens.
Blockchain powered marketplace for art
Each artwork on the SuperRare is authentically created by an artist in the network. They are then backed by Ethereum blockchain to verify the origin and trace the entire history of the piece.
The art piece was tokenized as a non-fungible ERC-721 token, a crypto-collectible digital item that can either be traded or held as long term investment, since it’s a token that is as unique as the artwork itself. Artists can choose to either put their creations up for an auction or sell at a set price.