The work known as “Castello’s Cube / Castello’s Cube”. will be on display in Central Park through the evening of February 3rd, and those interested in participating in the auction an auction is a public sale through a bidding process where an asset is sold to the highest bidder. of the NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. you can visit their website.
The German artist Niclas Castello This morning he surprised visitors to the iconic Central Park in New York City, as he shared with all attendees his cubic sculpture of 186 kilograms of pure 24 karat gold, which will be available in the park’s spaces for today only.
While the news itself may not be new as many other artists have made similar appearances, Castello’s team reported that they will be auctioning off NFT and commercializing its own digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency, better known as CAST. The tokens in question are available now via the creator’s website at a price of EUR 0.39 per token, and the auction of the digital collectibles will take place on 21 February.
About Castello’s work
As previously reported, the work in question consists of a hollow cube made of thick layers of 24-karat gold. This creation itself is not for sale, but its material value is estimated to be around USD $11.7 million given that it has a total weight of 410 pounds.
Castelo, the 43-year-old artist responsible for the sculpture, describes this work as a “ world’s foundation “for today’s times. It will be on display in the spaces of Central Park until the evening of February 3, and at the moment it is not known what will be the next destination thought for this.
The Castello cube was made in a foundry located in Switzerland, which required a special handmade furnace to support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. the size and volume how much cryptocurrency has been traded over a set period, such as the past 24 hours. of the gold used, so it was able to withstand the high temperatures necessary for casting and manufacturing. The work measures about half a meter on each side and the layers are almost 0.5 cm thick.
About the concept of the cube, the gallerist Lisa Kandlhofer explained:
“The cube can be seen as a kind of communiqué between an emerging 21st century cultural ecosystem based on cryptocurrencies and the ancient world where gold reigned supreme.”
Artists and the leap to the NFT
Qualified as a fashion by some and as a revolution in the concept of art by others, the truth is that the NFT today enjoy great popularity, and its ecosystem currently moves large amounts of capital capital is most commonly defined as the large sum of money you would use to invest. within the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. sector, attracting both own and strangers to this new form of business based on digital assets.
The proposal of the NFT for artists lies in being able to offer them greater control over the marketing of their digitized works, using the benefits of technology. Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. and the tokenization of assets, which generates digital certificates that serve as proof of ownership of the artistic creation.
Platforms such as OpenSea move billions of dollars weekly in commercial activity linked to these digital assets alone, and to date the most expensive NFT traded to date was the work of the artist Beeple called “Everydays: The first 5.000 days”which sold for USD $69 million.
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Version by Angel Di Matteo / DiarioBitcoin
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