As an analyst with a background in both traditional art and emerging digital technologies, I find the sale of “Ascend” by Ryan Koopmans and Alice Wexell at Christie’s for $57,450 not only significant but also intriguing. This marks a milestone not just for the artists, but also for the Bitcoin Ordinals protocol and digital art as a whole.
At Christie’s Post-War and Contemporary Art Auction, a digital artwork known as “Ascend,” engraved on Bitcoin‘s Ordinals protocol, was sold for an impressive $57,450. This surpassed its minimum predicted price of $39,000.
On October 10, the Bitcoin Ordinal “Ascend” by Ryan Koopmans and Alice Wexell was auctioned off at Christie’s Post-War and Contemporary Art Day sale for a staggering £44,100 (approximately $57,450). This piece exceeded its initial estimated selling price of £30,000 ($39,222).
As a researcher delving into the realm of digital currencies, I’m excited to announce that this is my first encounter with a Bitcoin Ordinal being showcased at a live auction held by Christie’s – an esteemed auction house dating back to 1776, one of the oldest and most revered in the world.
In my analysis, the digital art vividly portrays the rejuvenation of the Iveria Sanatorium in Tskaltubo, Georgia – a place that time had left in ruins. Through the masterful hands of Koopmans and Wexell, this once-abandoned structure has been brought back to life in the digital realm.
Ascend” is included in the “The Wild Within” project by Koopman and Wexell, where they blend visual photography with 3D technology to rejuvenate deserted buildings.
In a recent auction, the piece titled ‘Ascend’ by artists Ryan Koopmans and Alice Wexell was sold for £44,100 ($57,450)! This price sets a new record in the artists’ secondary market. Bravo to the lucky buyer!
— Christie’s Digital Art (@ChristiesDigArt) October 10, 2024
Sebastian Sanchez, the Digital Art Sales Manager at Christie’s, discussed the differences between Bitcoin Ordinals and NFTs on Ethereum, highlighting a fresh obstacle for artists striving to work within this sphere.
In an email to crypto.news, Sanchez stated, “Ordinals offer unique limitations, like smaller file sizes compared to Ethereum. As a result, we don’t often see high-quality artwork due to these constraints. Yet, artists are innovatively exploring and testing the boundaries of what can be achieved within these limitations.
He pointed out that Ordinals provide an additional security layer that’s not found in external databases. In contrast, external servers may accidentally delete stored image files if they become inactive. However, Ordinals embed images and videos directly onto a Satoshi, the smallest bitcoin unit, without relying on external links for storage.
While Ordinals might present a challenge due to their more complex technical aspects, according to Sanchez’s viewpoint, they could be perceived as more difficult to integrate into the broader art community when compared to NFTs.
Additionally, he noted that an increasing number of artists are exploring the fusion of digital and tangible art forms, merging these realms together.
He mentioned instances where artists produce digital artwork that comes with a signed print and also tangible pieces accompanied by authenticity certificates stored on a blockchain.
Both Wexall and Koopmans are no strangers to the worlds of traditional fine art and photography.
In September 2024, pieces from their renowned digital art series titled “The Wild Within” were set up for display at the inaugural International Biennale of Modern Art, held at the old Royal Villa of Durres, Albania.
As an analyst, I am excited to share that I’m part of the team overseeing the installation of pieces from The Wild Within art collection across the renovated Royal Villa of Durres. This collaboration is a joint effort between the Swedish Embassy and Albanian state institutions, marking our participation in the inaugural International Biennale of Contemporary Art held in Durres, Albania.
— Ryan Koopmans (@ryankoopmans) September 12, 2024
One more artwork titled “The Thought of You” by them originated from a derelict villa in Italy. This masterpiece was exhibited at the Enter Art Fair in Copenhagen, Denmark from August 29th to September 1st.
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2024-10-11 12:30