NBC News

October 27, 2020

How blockchain technology reached Christie's and changed the art world along the way

Matt Kane sold oil paintings in the early 2000s before becoming a web developer. He taught himself how to code and eventually created his own art software to make crypto art. To date, his tokenized work “Right Place & Right Time” is the second-most expensive piece of digital art sold, behind Gentilli’s. It sold for $101,593 in September.

Kane said many people in the crypto art space are trying to create a more equitable model for the future, one that cares about the artist as they age and allows them to participate in their own success.

“This is the spirit that is born out of the crypto space. We’re interested in the welfare of the many over the profit of the few,” Kane said. “I think that’s sort of an ethic that we all find very easy to believe in.”