New Ethereum-Based Tokens for Artistic Expression of Value

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New Ethereum-Based Tokens for Artistic Expression of Value

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Chinese artist and activist Ai Weiwei has joined with artist Kevin Abosch who is continuing his ongoing relationship with cryptocurrency through artistic project labeled “priceless.”

Abosch, is an Irish conceptual artist and photographer based in New York City. His last project explored cryptocurrency in a unique way. Apart from owning the most valuable piece of art ever stored on a blockchain, earlier this year he created 10 million IAMA Coin tokens using the Ethereum ERC-20 protocol and drew six vials of blood from his own body and used it to stamp 100 blockchain addresses where the IAMA Coins reside, onto 100 separate pieces of paper.

Other projects involving crypto are fast making him the go-to artist for crypto enthusiasts.

Ai Weiwei, artist and highly critical defender of human rights in China and son of Chinese poet Ai Qing, is also interested in blockchain, and with Abosch’s knowledge of the industry, is collaborating on the new project.

Together the two artists have created two tokens in an attempt to show to the world how value is perceived by society. One token is highly unattainable and the other is available to all, in the sense that anyone is able to own a fraction of it. As Ali explained:

“It’s not about a potential for creating art, but, rather, to question the existing system and the potential to create a new system outside of the established one.”

Abosch commented:

“From the moment we’re born, people try to ascribe value to us — ‘Oh, that boy is so full of potential, or oh, that girl is worthless’ — it’s something society does to us and it’s something we do to ourselves … Our project is just another thing to engage people in the hope that they will spend a little bit more time reflecting on the perversity of how most of us ascribe value to things.”

The wallet addresses containing PRCLS tokens are printed and then sold to buyers. Each address represents “priceless moments” shared between the two artists, intended to demonstrate how a token can represent value, such as human life and human interaction. Cryptocurrency critics have long contested that tokens have no actual value.

Ali says that blockchain is an opportunity for change, bringing down an old system in order to “at least offer a new possibility for communication.”

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