Crypto Art is a relatively new type of art that uses encryption software to define what can be viewed, who can view it, and for how long. The paintings are impossible to copy, impossible to steal, and certainly impossible to vandalize-they’re locked with digital keys. The way the paintings work is that the artist uploads his or her encrypted work to the blockchain. This means that rather than storing data on your hard drive like you would with traditional art, all the information is stored on an online ledger collectively maintained by thousands of people around the world. There are different types of Crypto Arts including digital painting/drawing programs such as “Paintings in Blockchain” which allows artists using their website’s interface to paint onto a canvas which is then converted to hexadecimal code and inserted into the blockchain.
What is Crypto Art and how does it work
Art has always been a reflection of life. Some people believe that Crypto Art is art reflecting the age of digital technology. Crypto Art is different from traditional art because traditional art can be copied, stolen, and vandalized whereas Crypto Art cannot. The way that Crypto Arts works is that the artist uploads their encrypted work to the blockchain which means that rather than storing data on your hard drive like you would with traditional art, all the information is stored on an online ledger collectively maintained by thousands of people around the world. There are different types of Crypto Arts including digital painting/drawing programs such as “Paintings in Blockchain” which allows artists using their website’s interface to paint onto a canvas which is then converted to hexadecimal code and inserted into the blockchain.
Crypto Art as a reflection of life
Some people believe that Crypto Art is art reflecting the age of digital technology, but it has been around since 1989 where “The Legend of Zelda” was released on NES with a save file encrypted by a password which caused a lot of media attention for its time because it showed how electronic data could be stored and re-accessed. In 2001, Reality Keys introduced mainly used for financial derivatives to timestamp information onto the Bitcoin Blockchain, which meant that it became impossible to change previous data without someone knowing about it. Additionally, in 2014 Blockchain became even more popular when the first CryptoKitty was born from it. This Cryptokitty had an auction price of $140,000 making it the most expensive Cryptokitty ever sold. Since then there have been many more CryptoKitties with different DNA, some being worth several hundred thousand dollars.
Advantages of the crypto art
The advantages of the crypto art is that it will ensure the anonymity of the artist and his or her work. The paintings are impossible to copy, impossible to steal, and certainly impossible to vandalize-they’re locked with digital keys. The other advantage is that they can be monetized without using any third parties. The way the paintings work is that the artist uploads his or her encrypted work to the blockchain. This means that rather than storing data on your hard drive like you would with traditional art, all the information is stored on an online ledger collectively maintained by thousands of people around the world.
How the crypto art is different from traditional art?
The main difference with traditional art is that you can’t technically “pirate” it. The information about the painting-including the title, dimensions, and price-is hashed into a series of numbers called a hash code which is stored on the blockchain.
To decode the file requires its encryption key, or private key. And this isn’t something you can easily find out-the only way to figure out someone’s private key would be for them to give it to you. If they did this, there’d be no way for them to take it back-it’s kind of like giving someone your password for your email account. Once they have the key, all the information stored on the blockchain would be open to them. So, even if someone had access to the blockchain, it still wouldn’t help them steal your painting.
Another big difference between crypto art and traditional art is that you can buy it with cryptocurrencies like Bitcoin. Say you met an artist who sold some work through a site like OpenBazaar-a peer-to-peer ecommerce site that allows people to sell all sorts of things using cryptocurrency payments rather than PayPal or credit cards. You could buy their painting with Bitcoin directly without having to go through a third party like PayPal or Stripe which takes out fees for processing transactions.
The only way I could see this being a problem is if the value of Bitcoin skyrockets so much in the future that it would be impractical to transact in fractions of a coin.
Traditional art also isn’t really transferable. Once you buy it, they’re your paintings. You can sell them or whatever, but generally speaking, they’re gone forever. One big difference with crypto art is that you could give (or even sell) people certain rights to see it-by sharing their private key with someone else, you’re essentially giving them access to view the painting for however long they have access to it.
People like Andy Boot can make parts of his painting inaccessible after a certain time period by introducing time delays into the file itself (although he doesn’t do this with his work, you can see a demo of how it works here). This would make it kind of like a pay-per-view system. The only way you could get the key to view the painting for longer would be to buy its original from Andy directly.
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