As soon as you thought it was impossible to bring something new and intriguing to the world of art, 0xowns.art shows up and steals all the attention.
0xowns.art is a platform that enables you to make art from pure ownership. In this case, ownership is both the proof of the existence of art and the art itself. Confused? You shouldn’t be.
Take a look a few decades, or rather hundreds of years in the past. Throughout history, art has been valued based on the story it tells, the economic, cultural and political situation it portrays, rather than keeping its own intrinsic value. When you truly start thinking about it, it becomes clear that it’s rather challenging, if not impossible, to determine the intrinsic value of the art. When you try to do that, it turns into the evaluation of the time at which the art was created, and again to the cultural, economic, and political situation of that time. Art has value because society decided it has value. The same goes for the cryptocurrency.
0xowns.art’s creator, CalArts MFA Alexander Rafalovich, says that cryptocurrency always had something artistic about it. The main idea behind the creation of 0xowns.art is based on the fact that cryptocurrencies completely abandon any intrinsic measures. That concept made its way into this platform and took the form of the creation of artwork that does not exist in the physical world and provides no proof of ownership in any way. By purchasing the art, you create art. The artwork exists only in the form of transactions made by the buyers.
The platform uses Ethereum, which is an open-source blockchain platform and cryptocurrency, and by using this cryptocurrency, users can check the artwork’s current value, purchase it, and set a new resale price. As soon as some other user matches that price, the ownership is transferred and the seller’s account credited. However, no digital tokens or anything of that kind is being transferred or granted, leaving the transaction in the Ethereum blockchain as the single proof of the ownership. Moreover, the names and other information of purchasers of the art will not be recorded. No endowments, no commemorations on plaques, nothing but the transaction. What you, as a buyer do get however, is a chance to enter history as one of the first people to express ownership as art.
This is a completely new, bizarre, intriguing, and one hundred percent virtual expression of art. This platform allows us to regard the art completely outside of the physical world, and it merges the abstractness of cryptocurrency and art into one. We now have a chance to be a part of something revolutionizing. 0xowns.art is taking the art outside of the concrete reality and it makes it a part of something virtual and abstract.