New York’s Christie’s auction house announced yesterday that the bitcoin-based artwork “Block 21” has managed to sell for over $130,000 – almost six times its original auction price. This artwork sale is part of a series of upcoming auctions revolving around Robert Alice’s highly-ambitious bitcoin art project, as reported by Coinmod last September 24. Notably, this purchase also marks the very first time a non-fungible token, or NFT, was auctioned off at a prominent auction house.
As per Christie’s, the Block 21 artwork was purchased for $131,250 by a still unidentified buyer this last October 7, marking a new record price for an auctioned NFT (the previous record was $105,000). It has also noted that the bidding started at only $22,000 and worked itself up to the $100k plus concluding bid. It is also worth noting that Christie’s initially estimated that Block 21 would only sell between $12k and $18k.
Portraits of a mind: Block 21
The Block 21 artwork is part of the unprecedented bitcoin-inspired art project of Robert Alice dubbed the “Portraits of a mind.” It is but one of the 40 different physical hand paintings that each contains a series of hex digits from the genesis code of Bitcoin emphasized with pure gold. Robert Alice’s official website states that the collective artwork explores the many-varying identities of Satoshi Nakamoto – the professed father of Bitcoin.